CACC - Erin J Kerber At Credit Acceptance Capitalizes: Options Exercised Resulting In $1.08M | Benzinga
In a new SEC filing on February 6, it was revealed that Kerber, Chief Legal Officer at Credit Acceptance (NASDAQ:CACC), executed a significant exercise of company stock options.
What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Tuesday showed that Kerber, Chief Legal Officer at Credit Acceptance, a company in the Financials sector, just exercised stock options worth 4,875 shares of CACC stock with an exercise price of $333.94.
The latest update on Wednesday morning shows Credit Acceptance shares down by 0.0%, trading at $554.51. At this price, Kerber's 4,875 shares are worth $1,075,278.
Get to Know Credit Acceptance Better
Credit Acceptance Corp is a consumer finance company that specializes in automobile loans. These loans are offered through a U.S. nationwide network of automobile dealers that benefit from sales of vehicles to consumers who could otherwise not obtain financing. The company also benefits from repeat and referral sales, and from sales to customers responding to advertisements for financing, but qualify for traditional financing. The company derives its revenue from finance charges, premiums earned on the reinsurance of vehicle service contracts, and other fees. Of these, financing charges, including servicing fees, are by far the largest source ...