CREDIT ACCEPTANCE CORP — Director's Dealing 2017

Mar 20, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CREDIT ACCEPTANCE CORP (CACC)
CIK: 0000885550
Period of Report: 2017-03-16

Reporting Person: Watson Jill Foss (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-16	Common Stock	S	1706	$202.49	Disposed	647324	Indirect
2017-03-16	Common Stock	S	111	$202.49	Disposed	52694	Indirect
2017-03-16	Common Stock	S	2283	$202.49	Disposed	1087077	Indirect
2017-03-16	Common Stock	S	3586	$203.72	Disposed	643738	Indirect
2017-03-16	Common Stock	S	233	$203.72	Disposed	52461	Indirect
2017-03-16	Common Stock	S	4801	$203.72	Disposed	1082276	Indirect
2017-03-16	Common Stock	S	3061	$204.74	Disposed	640677	Indirect
2017-03-16	Common Stock	S	199	$204.74	Disposed	52262	Indirect
2017-03-16	Common Stock	S	4098	$204.74	Disposed	1078178	Indirect
2017-03-16	Common Stock	S	333	$205.58	Disposed	640344	Indirect
2017-03-16	Common Stock	S	21	$205.58	Disposed	52241	Indirect
2017-03-16	Common Stock	S	446	$205.58	Disposed	1077732	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	164804	Indirect
Common Stock	58154	Indirect
Common Stock	58154	Indirect
Common Stock	2146	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $202.00 to $202.99, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, 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 the preceding sentence.

F2: Includes the transfer of 105,196 shares as an annuity payment from the Jill Foss Watson 2016 Grantor Retained Annuity Trust to the Jill Foss Watson Living Trust on March 16, 2017. This transfer is exempt as a mere change in form of beneficial ownership under Rule 16a-13.

F3: These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson Living Trust.

F4: These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson Irrevocable Trust.

F5: These shares are owned of record by Jill Foss Watson, as Trustee of the Karol A. Foss Irrevocable Grandchildren's Trust.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $203.23 to $204.18, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, 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 the preceding sentence.

F7: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $204.27 to $205.27, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, 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 the preceding sentence.

F8: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $205.32 to $205.66, inclusive. The reporting person undertakes to provide to Credit Acceptance Corporation, any security holder of Credit Acceptance Corporation, 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 the preceding sentence.

F9: Includes the transfer of 105,196 shares as an annuity payment from the Jill Foss Watson 2016 Grantor Retained Annuity Trust to the Jill Foss Watson Living Trust on March 16, 2017. This transfer is exempt as a mere change in form of beneficial ownership under Rule 16a-13.

F10: These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson 2016 Grantor Retained Annuity Trust.

F11: These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson 2014 Children's Trust FBO Duncan Todd Watson.

F12: These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson 2014 Children's Trust FBO Gwyneth Ellen Watson.

F13: The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.