Eileen A. Kamerick - Sep 4, 2024 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Role
Director
Signature
/s/ Michelle Webb, Attorney-in-Fact
Stock symbol
ACVA
Transactions as of
Sep 4, 2024
Transactions value $
-$333,250
Form type
4
Date filed
9/6/2024, 04:11 PM
Previous filing
Aug 16, 2024
Next filing
Sep 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACVA Class A Common Stock Options Exercise +25K +270.59% 34.2K Sep 4, 2024 Direct F1
transaction ACVA Class A Common Stock Sale -$446K -25K -73.02% $17.83 9.24K Sep 4, 2024 Direct F2

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 Stock Option (Right to Buy) Options Exercise $0 -25K -23.59% $0.00 81K Sep 4, 2024 Class B Common Stock 25K $4.50 Direct F3
transaction ACVA Class B Common Stock Options Exercise $113K +25K $4.50 25K Sep 4, 2024 Class A Common Stock 25K Direct F1
transaction ACVA Class B Common Stock Conversion of derivative security $0 -25K -100% $0.00 0 Sep 4, 2024 Class A Common Stock 25K Direct F1
* 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 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $17.76 to $17.98 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 at each separate price within the range set forth in this footnote.
F3 The stock options vested or shall vest in twelve (12) equal quarterly installments, with the first vesting having occurred on June 5, 2020, subject to the Reporting Person's continuous service through each such date.