ACV Auctions Inc. — Director's Dealing 2023

May 15, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ACV Auctions Inc. (ACVA)
CIK: 0001637873
Period of Report: 2023-05-11

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
2023-05-11	Class A Common Stock	C	3000000	$0.00	Acquired	3000000	Indirect
2023-05-11	Class A Common Stock	S	3000000	$16.03	Disposed	0	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-11	Class B Common Stock	$	C	3000000	Disposed		Class A Common Stock (3000000)	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 1,650,420 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX L.P. ("BVP IX"), 1,322,238 shares converted from Class B Common Stock to Class A Common Stock by Bessemer Venture Partners IX Institutional L.P. ("BVP IX Inst"), and 27,342 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 May 11, 2023, BVP IX, BVP IX Inst, and 15 Angels sold 1,650,420 shares, 1,322,238 shares and 27,342 shares, respectively, of Class A Common Stock of ACV Auctions, Inc in a single execution at a stock price of $16.03 per share.

F4: After the reported transaction, BVP IX, BVP IX Inst, and 15 Angels own 7,616,771 shares, 6,102,194 shares and 126,187 shares, respectively, of Class B Common Stock.

F5: 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.