Credit Acceptance Corp. SC 13D/A Filing Update

TL;DR

Foss family trusts update CACC stake in new 13D/A filing.

AI Summary

On March 25, 2024, an amendment (Amendment No. 12) was filed for Credit Acceptance Corporation (CACC). The filing lists several trusts and individuals, including Donald A. Foss, Jill Foss Watson, and Jill Foss Watson's trusts, as group members. These entities collectively hold a significant stake in the company, with the filing indicating changes or updates to their beneficial ownership.

Why It Matters

This filing provides updated information on significant beneficial ownership of Credit Acceptance Corporation, which can influence investor perception and potential strategic decisions regarding the company.

Risk Assessment

Risk Level: medium — Filings related to significant beneficial ownership changes can indicate shifts in control or strategy, potentially impacting stock price.

Key Players & Entities

• Credit Acceptance Corporation (company) — Subject Company
• Donald A. Foss 2009 Remainder Trust (company) — Group Member
• Donald A. Foss 2010 Remainder Trust (company) — Group Member
• Jill Foss Watson 2014 Children's Trust FBO Duncan Todd Watson (company) — Group Member
• Jill Foss Watson 2014 Children's Trust FBO Gwyneth Ellen Watson (company) — Group Member
• Jill Foss Watson Irrevocable Trust (company) — Group Member
• Jill Foss Watson Living Trust (company) — Group Member
• Karol A. Foss Irrevocable Grandchildren's Trust (company) — Group Member
• Jill Foss Watson (person) — Group Member
• Bradley J. Wyatt (person) — Attorney

FAQ

Key Financial Figures

• $546.07 — ranging from the average daily price of $546.07 per share to $569.81 per share. None of
• $569.81 — age daily price of $546.07 per share to $569.81 per share. None of the other Reporting

Filing Documents

• tm249733d1_sc13da.htm (SC 13D/A) — 156KB
• 0001104659-24-038480.txt ( ) — 158KB

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, and the Jill Foss Watson 2014 Children’s Trust FBO Duncan Todd Watson, 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 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, and the Jill Foss Watson 2014 Children’s Trust FBO Duncan Todd Watson 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 a change in the 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 cap

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 810,345 6.6% 0 810,345 0 0 The Donald A. Foss 2010 Remainder Trust 507,343 4.1% 0 507,343 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** 1,735,621 14.1% 417,933 1,317,688 417,933 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 and the Karol A. Foss Irrevocable Grandchildren’s 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) Commencing January 26, 2024, both the Donald A. Foss 2009 Remainder Trust and the Donald A. Foss 2010 Remainder Trust began disposing of shares in the open market pursuant to their Form 144s filed on January 26, 2024. As of

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: March 25, 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 /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 contained therein. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute