Michael Waterman - May 2, 2022 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Role
Chief Sales Officer
Signature
/s/ Jason Minio, Attorney-in-Fact
Stock symbol
ACVA
Transactions as of
May 2, 2022
Transactions value $
-$37,370
Form type
4
Date filed
5/4/2022, 04:58 PM
Previous filing
Apr 18, 2022
Next filing
Oct 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACVA Class A Common Stock Conversion of derivative security +2.93K +4.38% 69.9K May 2, 2022 Direct F1
transaction ACVA Class A Common Stock Sale -$37.4K -2.93K -4.19% $12.75 67K May 2, 2022 Direct F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ACVA Class B Common Stock Conversion of derivative security $0 -2.93K -1.58% $0.00 183K May 2, 2022 Class A Common Stock 2.93K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Class B Common Stock is convertible at any time at the option of the Reporting Person into one share of Class A Common Stock. Each share of Class B Common Stock will convert automatically into shares of Class A common stock, on a one-to-one basis, upon the following: (1) the sale or transfer of such share of Class B Common Stock, subject to certain exceptions specified in the Issuer's amended and restated certificate of incorporation; (2) the death of the Reporting Person; and (3) the final conversion date, defined as the earlier of (a) the first trading day on or after the date on which the outstanding shares of Class B Common Stock represent less than 5.0% of the Issuer's then-outstanding Class A and Class B Common Stock; (b) the tenth anniversary of this offering; or (c) the date specified by vote of the holders of a majority of the outstanding shares of Class B Common Stock, voting as a single class.
F2 Shares sold pursuant to a Rule 10b5-1 trading plan.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $12.51 to $13.26 inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F4 Includes shares previously reported as restricted stock units.