Trust related to 10% owner files Form 144 to sell $12.5M in stock, part of a larger family distribution

summarizeSummary

A trust related to a 10% owner of Credit Acceptance Corp has filed a Form 144 to sell $12.5 million in stock, part of a larger family plan to sell up to $31.9 million, adding to a trend of insider selling near 52-week highs.

check_boxKey Events · Ownership and Investor Activity · CACC

• Intent to Sell $12.5 Million

  Jill Foss Watson Irrevocable Trust has filed a Form 144 indicating an intent to sell 20,000 shares of common stock, valued at approximately $12.5 million.

• Broader Family Distribution

  This specific sale is part of an aggregated plan by related trusts within the Jill Foss Watson family to sell up to 50,000 shares, totaling approximately $31.9 million.

• Context of Insider Selling

  This filing adds to a recent trend of insider distribution, with over $58 million in net insider sales over the last 90 days, including other Form 144 filings from officers and a different 10% shareholder.

• Timing Near 52-Week Highs

  The proposed sale occurs while Credit Acceptance Corp's stock is trading near its 52-week high, potentially indicating opportunistic selling.

auto_awesomeAnalysis · CACC · Finance

Jill Foss Watson Irrevocable Trust, connected to a 10% owner, has filed a Form 144 indicating an intent to sell 20,000 shares of Credit Acceptance Corp stock, valued at approximately $12.5 million. This specific sale is part of a broader plan by related trusts within the Jill Foss Watson family to sell an aggregate of up to 50,000 shares, totaling approximately $31.9 million. This significant intent to sell by a major shareholder's family, occurring while the stock is trading near its 52-week high, contributes to a pattern of insider distribution observed over the past 90 days, where net insider sales total over $58 million.