Foss/Watson Group Files 11th 13D Amendment on Credit Acceptance Corp.

Ticker: CACC · Form: SC 13D/A · Filed: 2024-02-14T00:00:00.000Z

Sentiment: neutral

Topics: insider-ownership, amendment, beneficial-ownership, group-filing

Related Tickers: CACC

TL;DR

🚨 **Major shareholder group, including Jill Foss Watson, filed their 11th 13D amendment on Credit Acceptance Corp. today.**

AI Summary

Jill Foss Watson and a group of related trusts, including the Donald A. Foss 2009 and 2010 Remainder Trusts, filed an Amendment No. 11 to Schedule 13D on February 14, 2024. This filing pertains to their beneficial ownership in Credit Acceptance Corporation (CUSIP 225310 10 1). The amendment updates previous disclosures by this group of reporting persons.

Why It Matters

This amendment indicates ongoing disclosure requirements for a significant ownership group in Credit Acceptance Corporation. Investors monitor 13D filings for changes in beneficial ownership and intent, which can signal future strategic moves or passive investment status.

Risk Assessment

Risk Level: low — An amendment to a long-standing 13D filing, without specific content indicating a change in intent (which is not provided here), is typically a routine disclosure and poses low immediate risk.

Key Numbers

Key Players & Entities

FAQ

Who filed this SC 13D/A?

The filing was made by Jill Foss Watson and a group of related trusts, including various trusts associated with Donald A. Foss and Jill Foss Watson.

What is the subject company of this filing?

The subject company is Credit Acceptance Corporation, identified by CIK 0000885550 and CUSIP 225310 10 1.

What type of filing is this and what is its amendment number?

This is an SC 13D/A filing, which is Amendment No. 11 to the original Schedule 13D.

When was this document filed with the SEC?

The document was filed with the SEC on February 14, 2024.

What is the business address of Credit Acceptance Corporation?

The business address of Credit Acceptance Corporation is 25505 West Twelve Mile Road, Southfield, MI 48034-8334.

Filing Stats: 3,866 words · 15 min read · ~13 pages · Grade level 10.9 · Accepted 2024-02-14 15:48:59

Filing Documents

Security and Issuer

Item 1. Security and Issuer. The class of equity securities to which this Schedule 13D relates is the common stock of Credit Acceptance Corporation (“Issuer” or “CACC”). The principal executive offices of CACC are located at 25505 West Twelve Mile Road, Southfield, Michigan 48034-8339.

Identity and Background

Item 2. Identity and Background. This statement is filed jointly by the Donald A. Foss 2009 Remainder Trust, the Donald A. Foss 2010 Remainder Trust, the Jill Foss Watson Living Trust, the Jill Foss Watson Irrevocable Trust, the Karol A. Foss Irrevocable Grandchildren’s Trust, the Jill Foss Watson 2014 Children’s Trust FBO Gwyneth Ellen Watson, Jill Foss Watson 2014 Children’s Trust FBO Duncan Todd Watson, Jill Foss Watson 2021 Grantor Retained Annuity Trust, each established under the laws of Michigan (collectively, the “Trusts”), and Jill Foss Watson, a citizen of the United States (collectively, with the Trusts, the “Reporting Persons”). Mrs. Watson is the trustee of the Trusts. Mrs. Watson is principally responsible as trustee of the Trusts. Her address is 26055 Northpointe Farmington Hills, MI 48331. The principal office of the Donald A. Foss 2009 Remainder Trust and the Donald A. Foss 2010 Remainder Trust is 101 West 14 Mile Road, 2nd Floor, Madison Heights, MI 48071. The principal office of the Jill Foss Watson Irrevocable Trust, the Karol A. Foss Irrevocable Grandchildren’s Trust, the Jill Foss Watson 2014 Children’s Trust FBO Gwyneth Ellen Watson, Jill Foss Watson 2014 Children’s Trust FBO Duncan Todd Watson, and the Jill Foss Watson 2021 Grantor Retained Annuity Trust is 26055 Northpointe Farmington Hills, MI 48331. During the last five (5) years, none of the Trusts nor Mrs. Watson has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration. Not applicable.

Purpose of Transaction

Item 4. Purpose of Transaction. This Schedule 13D/A is being filed to report shares beneficially owned by the Reporting Persons. The Reporting Persons intend to evaluate on an ongoing basis the investments in the Issuer and their options with respect to such investments. The Reporting Persons may from time to time, acquire additional common stock from time to time for investment purposes if market conditions are favorable, in the open market, in privately negotiated transactions or otherwise. The Reporting Persons may also dispose of some or all of the Issuer’s common stock that the Reporting Persons beneficially own, periodically, by public or private sale (registered or unregistered and with or without the simultaneous sale of newly-issued common stock by the Issuer), gift, expiration of options, forfeiture of restricted shares or otherwise, including, without limitation, sales of common stock pursuant to Rule 144 under the Securities Act of 1933, as amended, or otherwise. The Reporting Persons reserve the right not to acquire common stock at any given time and not to dispose of all or part of common stock the Reporting Persons may own at any given time if they determine such acquisition or disposal is not in their best interests at the time in question. Other than as described above, the Reporting Persons does not have any current plans or proposals which relate to, or would result in, (a) any acquisition or disposition of securities of the Issuer, (b) any extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries, (c) any sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries, (d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the Board, (e) any material change in the Issuer’s present capitalization or d

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer Reporting Person Amount beneficially owned: Percent of Class* Sole power to vote or direct the vote: Shared power to vote or to direct the vote: Sole power to dispose or to direct the disposition of: Shared power to dispose or to direct the disposition of: The Donald A. Foss 2009 Remainder Trust 874,059 7.1% 0 874,059 0 0 The Donald A. Foss 2010 Remainder Trust 571,058 4.6% 0 571,058 0 0 Jill Foss Watson Living Trust 122,107 1.0% 122,107 0 122,107 0 Jill Foss Watson Irrevocable Trust** 53,846 0.4% 53,846 0 53,846 0 Karol A. Foss Irrevocable Grandchildren’s Trust** 167,428 1.4% 167,428 0 167,428 0 Jill Foss Watson 2014 Children’s Trust FBO Gwyneth Ellen Watson 37,276 0.3% 37,276 0 37,276 0 Jill Foss Watson 2014 Children’s Trust FBO Duncan Todd Watson 37,276 0.3% 37,276 0 37,276 0 Jill Foss Watson 2021 Grantor Retained Annuity Trust 0 0.0% 0 0 0 0 Jill Foss Watson** 1,863,050 15.1% 417,933 1,445,117 417,933 0 * The percentage is calculated based upon total outstanding shares of 12,302,955 as of February 1, 2024, as reported in the Issuer’s annual report on Form 10-K filed with the SEC on February 12, 2024. ** Mrs. Watson is the co-trustee of the Donald A. Foss 2009 Remainder Trust and the Donald A. Foss 2010 Remainder Trust. Mrs. Watson is the trustee of the Jill Foss Watson Living Trust, the Karol A. Foss Irrevocable Grandchildren’s Trust, and the Jill Foss Watson 2021 Grantor Retained Annuity Trust. Mr. Todd Watson, spouse of Jill Foss Watson, is the trustee of the Jill Foss Watson Irrevocable Trust, the Jill Foss Watson 2014 Children's Trust FBO Gwyneth Ellen Watson, and the Jill Foss Watson 2014 Children's Trust FBO Duncan Todd Watson. (c) None. (d) The respective beneficiaries of the Donald A. Foss 2009 Remainder Trust, th

Contracts, Arrangements, Understandings or Relationships

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer. Allan Apple is co-trustee of The Donald A. Foss 2009 Remainder Trust, The Donald A. Foss 2010 Remainder Trust and has investment discretion with regard to the assets of the trusts, including the shares of the Issuer.

Material to be Filed as Exhibits

Item 7. Material to be Filed as Exhibits. Joint Filing Agreement (included as Exhibit A below) [Signature page follows] SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 14, 2024 The Donald A. Foss 2009 Remainder Trust /s/ Jill Foss Watson Name: Jill Foss Watson Title: Trustee The Donald A. Foss 2010 Remainder Trust /s/ Jill Foss Watson Name: Jill Foss Watson Title: Trustee Jill Foss Watson Living Trust /s/ Jill Foss Watson Name: Jill Foss Watson Title: Trustee Jill Foss Watson Irrevocable Trust /s/ Todd Watson Name: Todd Watson Title: Trustee Karol A. Foss Irrevocable Grandchildren’s Trust /s/ Jill Foss Watson Name: Jill Foss Watson Title: Trustee Jill Foss Watson 2014 Children's Trust FBO Gwyneth Ellen Watson /s/ Todd Watson Name: Todd Watson Title: Trustee Jill Foss Watson 2014 Children's Trust FBO Duncan Todd Watson /s/ Todd Watson Name: Todd Watson Title: Trustee Jill Foss Watson 2021 Grantor Retained Annuity Trust /s/ Jill Foss Watson Name: Jill Foss Watson Title: Trustee Jill Foss Watson /s/ Jill Foss Watson Jill Foss Watson, Individually EXHIBIT A JOINT FILING AGREEMENT In accordance with Rule 13d-1(k) promulgated under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with all other Reporting Persons (as such term is defined in the Schedule 13D referred to below) on behalf of each of them a statement on Schedule 13D (including amendments thereto, if any) with respect to the shares of common stock of Credit Acceptance Corporation, a Michigan corporation, and that this Agreement may be included as an Exhibit to such joint filing. Each of the undersigned agrees to be responsible for the timely filing of the Schedule 13D, and for the completeness and accuracy of the information concerning itself conta

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