ACV Auctions Inc. — Director's Dealing 2023

Sep 15, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACV Auctions Inc. (ACVA)
CIK: 0001637873
Period of Report: 2023-09-12

Reporting Person: Bessemer Venture Partners IX L.P. (10% Owner)
Reporting Person: Bessemer Venture Partners IX Institutional L.P. (10% Owner)
Reporting Person: 15 Angels III LLC (10% Owner)
Reporting Person: Deer IX & Co. L.P. (10% Owner)
Reporting Person: Deer IX & Co. Ltd. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-09-12	Class A Common Stock	C	1987693	$0.00	Acquired	1987693	Indirect
2023-09-12	Class A Common Stock	S	128479	$16.21	Disposed	1859214	Indirect
2023-09-13	Class A Common Stock	S	5549	$16.07	Disposed	1853665	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-09-12	Class B Common Stock	$	C	1987693	Disposed		Class A Common Stock (1987693)	Indirect

Footnotes

F1: Each share of Class B Common Stock is convertible without payment or consideration into one share of Class A Common Stock at the option of the holder and has no expiration date.

F2: Represents 1,093,509 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX L.P. ("BVP IX"), 876,068 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX Institutional L.P. ("BVP IX Inst"), and 18,116 shares converted from Class B Common Stock to Class A Common Stock by 15 Angels III LLC. ("15 Angels" and together with BVP IX and BVP IX Inst, the "BVP IX Funds").

F3: On September 12, 2023, the BVP IX, BVP IX Inst, and 15 Angels sold 70,681 shares, 56,627 shares, and 1,171 shares, of Class A Common Stock of ACV Auctions, Inc., respectively, at a weighted average price of $16.21. These shares were sold in multiple transactions at prices ranging from $16.12 to $16.31. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F4: Deer IX & Co. Ltd. ("Deer Ltd.") is the general partner of Deer IX & Co. L.P. ("Deer L.P."), which is the general partner of the BVP IX Funds. Deer Ltd. and Deer L.P. disclaim beneficial ownership of the securities held by the BVP IX Funds, and this report shall not be deemed an admission that Deer Ltd. and Deer L.P. are the beneficial owners of such securities, except to the extent of their pecuniary interest therein, if any, by virtue of their direct and indirect general partner interests in the BVP IX Funds.

F5: After the September 12 transaction, BVP IX, BVP IX Inst, and 15 Angels own 1,022,828 shares, 819,441 shares and 16,945 shares, respectively, of Class A Common Stock.

F6: On September 13, 2023, the BVP IX, BVP IX Inst, and 15 Angels sold 3,053 shares, 2,446 shares, and 50 shares, of Class A Common Stock of ACV Auctions, Inc., respectively, at a weighted average price of $16.07. These shares were sold in multiple transactions at prices ranging from $16.00 to $16.11. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F7: After the September 13 transaction, BVP IX, BVP IX Inst, and 15 Angels own 1,019,775 shares, 816,995 shares and 16,895 shares, respectively, of Class A Common Stock.

F8: After the reported transaction, BVP IX, BVP IX Inst, and 15 Angels own 5,976,508 shares, 4,788,093 shares and 99,012 shares, respectively, of Class B Common Stock.