Form 8-K - Current report

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):   June 5, 2024

CREDIT ACCEPTANCE CORPORATION

(Exact name of registrant as specified in its charter)

Michigan

000-20202

38-1999511

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification No.)

25505 West Twelve Mile Road

Southfield,

Michigan

48034-8339

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code:   [phone]

			Not Applicable
(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $.01 par value

CACC

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

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Item 5.07. Submission of Matters to a Vote of Security Holders.

On June 5, 2024, Credit Acceptance held its Annual Meeting of Shareholders at which shareholders:

1.Elected six directors to serve until the 2025 annual meeting;

2.Approved an amendment to the Credit Acceptance Corporation Amended and Restated Incentive Compensation Plan;

3.Approved named executive officer compensation on an advisory basis;

4.Ratified the selection of Grant Thornton LLP as our independent registered public accounting firm for 2024.

Shareholders cast their votes on each of these four proposals as follows:

1. Election of six directors to serve until the 2025 Annual Meeting of Shareholders:

Director Nominees						For						Withheld						Broker Non Votes
Kenneth S. Booth						6,935,538						44,584						2,013,976
Glenda J. Flanagan						6,424,031						556,091						2,013,976
Vinayak R. Hegde						6,719,777						260,345						2,013,976
Sean E. Quinn						6,964,871						15,251						2,013,976
Thomas N. Tryforos						6,635,141						344,981						2,013,976
Scott J. Vassalluzzo						6,668,295						311,827						2,013,976

2.Approval of an amendment to the Credit Acceptance Corporation Amended and Restated Incentive Compensation Plan:

For						Against						Abstain						Broker Non Votes
6,905,095						72,537						2,490						2,013,976

3.Approval of the advisory vote on named executive officer compensation:

For						Against						Abstain						Broker Non Votes
6,867,145						109,552						3,425						2,013,976

4.Ratification of the selection of Grant Thornton LLP as our independent registered public accounting firm for 2024:

For						Against						Abstain						Broker Non Votes
8,963,346						28,982						1,770						—

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			CREDIT ACCEPTANCE CORPORATION
Date: June 5, 2024			By:			/s/ Jay D. Martin
						Jay D. Martin
						Chief Financial Officer

Cover	Jun. 05, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jun. 05, 2024
Entity Registrant Name	CREDIT ACCEPTANCE CORP
Entity Incorporation, State or Country Code	MI
Entity File Number	000-20202
Entity Tax Identification Number	38-1999511
Entity Address, Address Line One	25505 West Twelve Mile Road
Entity Address, City or Town	Southfield,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48034-8339
City Area Code	248
Local Phone Number	353-2700
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	CACC
Security Exchange Name	NASDAQ
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000885550
Amendment Flag	false

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