Brian Hirsch - Jun 12, 2023 Form 4/A - Amendment Insider Report for ACV Auctions Inc. (ACVA)

Role
Director
Signature
/s/ Brian Hirsch
Stock symbol
ACVA
Transactions as of
Jun 12, 2023
Transactions value $
-$711,721
Form type
4/A - Amendment
Date filed
9/1/2023, 06:54 PM
Date Of Original Report
Jun 14, 2023
Previous filing
Jun 8, 2023
Next filing
Sep 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACVA Class A Common Stock Sale -$712K -40.3K -19.37% $17.64 168K Jun 14, 2023 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 This transaction was made pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 14, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.39 to $17.91 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.

Remarks:

This amendment is being filed to amend the Form 4 originally filed by the Reporting Person on June 14, 2023 (the "Original Form 4") to correct the number of shares of Class A common stock sold by the Reporting Person on June 14, 2023 to 40,347 (and not 25,702, as previously reported). This correction also affects (and is deemed to also correct and amend) the total number of shares of Class A common stock owned by the Reporting Person following any transactions reported on Form 4s filed subsequent to the Original Form 4, but prior to the filing of this amendment.