George Chamoun - 28 Oct 2022 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Signature
/s/ Michelle Webb, Attorney-in-fact
Issuer symbol
ACVA
Transactions as of
28 Oct 2022
Net transactions value
-$2,345,439
Form type
4
Filing time
01 Nov 2022, 18:20:16 UTC
Previous filing
05 Oct 2022
Next filing
05 Jan 2023

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 +82,070 +37% 302,629 28 Oct 2022 Direct F1
transaction ACVA Class A Common Stock Sale $730,201 -82,070 -27% $8.90 220,559 28 Oct 2022 Direct F2, F3
transaction ACVA Class A Common Stock Conversion of derivative security +84,841 +38% 305,400 31 Oct 2022 Direct F1
transaction ACVA Class A Common Stock Sale $774,446 -84,841 -28% $9.13 220,559 31 Oct 2022 Direct F2, F4
transaction ACVA Class A Common Stock Conversion of derivative security +91,465 +41% 312,024 01 Nov 2022 Direct F1
transaction ACVA Class A Common Stock Sale $840,792 -91,465 -29% $9.19 220,559 01 Nov 2022 Direct F2, F5

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 -82,070 -1.9% $0.000000 4,268,426 28 Oct 2022 Class A Common Stock 82,070 Direct F1, F6
transaction ACVA Class B Common Stock Conversion of derivative security $0 -84,841 -2% $0.000000 4,183,585 31 Oct 2022 Class A Common Stock 84,841 Direct F1, F6
transaction ACVA Class B Common Stock Conversion of derivative security $0 -91,465 -2.2% $0.000000 4,092,120 01 Nov 2022 Class A Common Stock 91,465 Direct F1, F6
* 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 Shares sold pursuant to a Rule 10b5-1 trading plan dated September 13, 2022.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.64 to $9.03 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 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $8.84 to $9.34 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.
F5 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $9.00 to $9.50 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.
F6 Includes shares previously reported as restricted stock units.