CREDIT ACCEPTANCE CORP 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS Stock Repurchases The following table summarizes stock repurchases for the three months ended September 30, 2021: ISSUER PURCHASES OF EQUITY SECURITIES Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs (1) Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs (1) July 1 to July 31, 2021 364,963 $ 454.67 364,963 1,153,142 August 1 to August 31, 2021 406,680 566.33 406,680 746,462 September 1 to September 30, 2021 514,603 598.20 514,603 2,231,859 1,286,246 $ 547.40 1,286,246 (1) On March 5, 2020, our board of directors authorized the repurchase by us from time to time up to three million shares of our common stock (the "March 2020 Authorization"). The March 2020 Authorization, which was announced on March 11, 2020, does not have a specified expiration date. On September 28, 2021, our board of directors authorized the repurchase by us from time to time of up to two million shares of our common stock (the "September 2021 Authorization") in addition to the March 2020 Authorization. The September 2021 Authorization, which was announced on October 1, 2021, does not have a specified expiration date. Repurchases under the March 2020 Authorization and the September 2021 Authorization may be made in the open market, through privately negotiated transactions, through block trades, pursuant to trading plans adopted in accordance with Rule 10b5‑1 under the Securities Exchange Act of 1934 or otherwise. 64 Table of Contents ITEM 6. EXHIBITS Exhibit No. Description 4.119 First Amendment to Loan and Security Agreement, dated as of September 1, 2021, by and among the Company, CAC Warehouse Funding LLC VIII, Citizens Bank, N.A. and Wells Fargo Bank, National Association (incorporated by reference to Exhibit 4.119 to the Company’s Current Report on Form 8 K filed September 8, 2021). 4.120 Eighth Amendment to Sixth Amended and Restated Credit Agreement and Extension Agreement, dated as of October 6, 2021, by and among the Company, Comerica Bank and the other banks signatory thereto and Comerica Bank, as administrative agent for the banks (incorporated by reference to Exhibit 4.120 to the Company’s Current Report on Form 8‑K filed October 12, 2021). 4.121 Third Amendment to Loan and Security Agreement, dated as of October 15, 2021, among the Company, CAC Warehouse Funding LLC VI and Flagstar Bank, fsb (incorporated by reference to Exhibit 4.121 to the Company’s Current Report on Form 8‑K filed October 21, 2021). 10.19 Settlement Agreement and Assurance of Discontinuance (incorporated by reference to Exhibit 10.19 to the Company’s Current Report on Form 8 K filed September 1, 2021). 31.1 Certification of principal executive officer and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1 Certification of principal executive officer and principal financial officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 101(SCH) Inline XBRL Taxonomy Extension Schema Document. 101(CAL) Inline XBRL Taxonomy Extension Calculation Linkbase Document. 101(DEF) Inline XBRL Taxonomy Extension Definition Linkbase Document. 101(LAB) Inline XBRL Taxonomy Extension Label Linkbase Document. 101(PRE) Inline XBRL Taxonomy Extension Presentation Linkbase Document. 104 Cover Page Interactive Data File (included in the Exhibit 101 Inline XBRL Document Set). * Management contract or compensatory plan or arrangement. 65 Table of Contents SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. CREDIT ACCEPTANCE CORPORATION (Registrant) By: /s/ Jay D. Martin Jay D. Martin Senior Vice President - Finance & Accounting (Chief Accounting Officer) Date: November 1, 2021 66