Vikas Mehta - 01 Jul 2021 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Role: Chief Operating Officer
Signature: /s/ Michelle Webb, Attorney-in-fact
Issuer symbol: ACVA
Transactions as of: 01 Jul 2021
Net transactions value: -$827,968
Form type: 4
Filing time: 06 Jul 2022, 18:11:32 UTC
Next filing: 18 Apr 2022
SEC: View on sec.gov

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		+15,320			15,320	01 Jul 2021	Direct	F1
transaction	ACVA	Class A Common Stock	Conversion of derivative security		+14,393	+94%		29,713	01 Oct 2021	Direct	F1
transaction	ACVA	Class A Common Stock	Tax liability	$35,500	-5,470	-3.4%	$6.49	154,324	01 Jul 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	Tax liability	$195,971	-7,883	-0.78%	$24.86	1,003,550	01 Jul 2021	Class A Common Stock	7,883		Direct	F1, F2, F4
transaction	ACVA	Class B Common Stock	Conversion of derivative security	$0	-15,320	-1.5%	$0.000000	988,230	01 Jul 2021	Class A Common Stock	15,320		Direct	F1, F4
transaction	ACVA	Class B Common Stock	Tax liability	$156,906	-8,810	-0.89%	$17.81	979,420	01 Oct 2021	Class A Common Stock	8,810		Direct	F1, F2, F4
transaction	ACVA	Class B Common Stock	Conversion of derivative security	$0	-14,393	-1.5%	$0.000000	965,027	01 Oct 2021	Class A Common Stock	14,393		Direct	F1, F4
transaction	ACVA	Class B Common Stock	Tax liability	$174,138	-9,243	-0.96%	$18.84	955,784	01 Jan 2022	Class A Common Stock	9,243		Direct	F1, F2, F4
transaction	ACVA	Class B Common Stock	Tax liability	$188,572	-12,447	-1.3%	$15.15	943,337	01 Apr 2022	Class A Common Stock	12,447		Direct	F1, F2, F4
transaction	ACVA	Class B Common Stock	Tax liability	$76,881	-11,846	-1.3%	$6.49	931,491	01 Jul 2022	Class A Common Stock	11,846		Direct	F1, F2, 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 last trading day of the fiscal quarter immediately following the tenth anniversary of the effective date of the Issuer's tenth amended and restated certificate of incorporation; (b) the last trading day of the fiscal quarter during which the then-outstanding shares of Class B Common Stock first represent less than 5% of the aggregate number of then-outstanding shares of Class A Common Stock and Class B Common Stock.
F2	These shares were withheld by the Issuer to cover the tax liability upon the vesting of a time-based restricted stock unit previously granted, and does not represent a discretionary sale by the reporting person.
F3	Amount reflects a grant of restricted stock unit award for Class A Common Stock reported April 18, 2022, and Class A Common Stock obtained through an ESPP.
F4	Includes shares previously reported as restricted stock units.