Michael Waterman - Oct 1, 2024 Form 4 Insider Report for ACV Auctions Inc. (ACVA)

Signature
/s/ Michelle Webb, Attorney-in-Fact
Stock symbol
ACVA
Transactions as of
Oct 1, 2024
Transactions value $
-$619,942
Form type
4
Date filed
10/3/2024, 05:29 PM
Previous filing
Sep 19, 2024
Next filing
Oct 17, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ACVA Class A Common Stock Tax liability -$43.4K -2.2K -0.6% $19.77 364K Oct 1, 2024 Direct F1
transaction ACVA Class A Common Stock Tax liability -$97.2K -4.92K -1.35% $19.77 359K Oct 1, 2024 Direct F1
transaction ACVA Class A Common Stock Tax liability -$68.4K -3.46K -0.96% $19.77 356K Oct 1, 2024 Direct F1
transaction ACVA Class A Common Stock Options Exercise +8.52K +2.39% 364K Oct 1, 2024 Direct F2
transaction ACVA Class A Common Stock Sale -$321K -16.1K -4.42% $19.95 348K Oct 1, 2024 Direct F3, F4

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 -$90.3K -4.57K -13.12% $19.77 30.2K Oct 1, 2024 Class A Common Stock 4.57K Direct F1, F2, F5
transaction ACVA Employee Stock Option (Right to Buy) Options Exercise $0 -8.52K -2.4% $0.00 346K Oct 1, 2024 Class B Common Stock 8.52K $0.06 Direct F6
transaction ACVA Class B Common Stock Options Exercise $511 +8.52K +28.17% $0.06 38.8K Oct 1, 2024 Class A Common Stock 8.52K Direct F2, F5
transaction ACVA Class B Common Stock Conversion of derivative security $0 -8.52K -21.98% $0.00 30.2K Oct 1, 2024 Class A Common Stock 8.52K Direct F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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
F2 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.
F3 Shares sold pursuant to a Rule 10b5-1 trading plan enter into on February 28, 2024.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $19.76 to $20.04 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
F5 Includes shares previously reported as restricted stock units.
F6 One-fourth (1/4th) of the shares subject to the option award vested on October 26, 2017, and thereafter one-forty-eighths of the shares subject to the option award vested monthly, subject to the Reporting Person's continuous service.