1 unchanged sentence
Stock Repurchases
−Removed: The following table summarizes stock repurchases for the three months ended March 31, 2022:
+Added: The following table summarizes stock repurchases for the three months ended June 30, 2022:
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)
−Removed: January 1 to January 31, 2022 — $ — — 1,625,550
−Removed: February 1 to February 28, 2022 320,260 (2) 537.90 318,515 1,307,035
−Removed: March 1 to March 31, 2022 483,475 518.51 483,475 823,560
+Added: April 1 to April 30, 2022 224,204 $ 557.52 224,204 599,356
+Added: May 1 to May 31, 2022 179,749 582.80 179,749 419,607
+Added: June 1 to June 30, 2022 — — — 419,607
403,953 $ 568.77 403,953
−Removed: (1) On September 28, 2021, o ur 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").
+Added: (1) 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").
The September 2021 Authorization, which was announced on October 1, 2021, does not have a specified expiration date.
−Removed: Repurchases under the September 2021 Authorization may be made in the open market, throug h 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.
−Removed: (2) Amount includes 1,745 shares of common stock released to us by team members as payment of tax withholdings upon the conversion of restricted stock units to common stock and the vesting of restricted stock and restricted stock units.
−Removed: Amended and Restated Bylaws (incorporated by reference to the Company’s Current Report on Form 8‑K filed March 7, 2022).
−Removed: Description of Common Stock of Credit Acceptance Corporation.
+Added: Repurchases under 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.
+Added: Indenture dated as of June 16, 2022, between Credit Acceptance Auto Loan Trust 2022-1 and Computershare Trust Company, N.A.
+Added: (incorporated by reference to Exhibit 4.94 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
+Added: Sale and Servicing Agreement, dated as of June 16, 2022, among Credit Acceptance Corporation, Credit Acceptance Auto Loan Trust 2022-1, Credit Acceptance Funding LLC 2022-1 and Computershare Trust Company, N.A.
+Added: (incorporated by reference to Exhibit 4.95 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
+Added: Backup Servicing Agreement, dated as of June 16, 2022, among Credit Acceptance Corporation, Credit Acceptance Funding LLC 2022-1, Credit Acceptance Auto Loan Trust 2022-1 and Computershare Trust Company, N.A.
+Added: (incorporated by reference to Exhibit 4.96 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
+Added: Amended and Restated Trust Agreement, dated as of June 16, 2022, among Credit Acceptance Funding LLC 2022-1, each of the initial members of the Board of Trustees of the Trust and U.S.
+Added: Bank Trust National Association (incorporated by reference to Exhibit 4.97 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
+Added: Sale and Contribution Agreement, dated as of June 16, 2022, between Credit Acceptance Corporation and Credit Acceptance Funding LLC 2022-1 (incorporated by reference to Exhibit 4.98 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
+Added: Amended and Restated Intercreditor Agreement, dated June 16, 2022, among Credit Acceptance Corporation, CAC Warehouse Funding LLC II, CAC Warehouse Funding LLC IV, CAC Warehouse Funding LLC V, CAC Warehouse Funding LLC VI, CAC Warehouse Funding LLC VIII, Credit Acceptance Funding LLC 2022-1, Credit Acceptance Funding LLC 2021-4, Credit Acceptance Funding LLC 2021-3, Credit Acceptance Funding LLC 2021-2, Credit Acceptance Funding LLC 2021-1, Credit Acceptance Funding LLC 2020-3, Credit Acceptance Funding LLC 2020-2, Credit Acceptance Funding LLC 2020-1, Credit Acceptance Funding LLC 2019-3, Credit Acceptance Funding LLC 2019-2, Credit Acceptance Auto Loan Trust 2022-1, Credit Acceptance Auto Loan Trust 2021-4, Credit Acceptance Auto Loan Trust 2021-3, Credit Acceptance Auto Loan Trust 2021-2, Credit Acceptance Auto Loan Trust 2020-3, Credit Acceptance Auto Loan Trust 2020-2, Credit Acceptance Auto Loan Trust 2020-1, Credit Acceptance Auto Loan Trust 2019-3, Computershare Trust Company, N.A., Wells Fargo Bank, National Association, Fifth Third Bank, National Association, Bank of Montreal, Flagstar Bank, FSB, Citizens Bank, N.A.
+Added: and Comerica Bank (incorporated by reference to Exhibit 4.99 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
+Added: Third Amendment to Amended and Restated Loan and Security Agreement, dated as of June 16, 2022, among Credit Acceptance Corporation, CAC Warehouse Funding LLC IV, Bank of Montreal, BMO Capital Markets Corp.
+Added: and Wells Fargo Bank, National Association (incorporated by reference to Exhibit 4.100 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
+Added: Ninth Amendment to Sixth Amended and Restated Credit Agreement and Extension Agreement dated as of June 22, 2022 among Credit Acceptance Corporation, Comerica Bank and the other banks signatory thereto and Comerica Bank, as administrative agent for the banks (incorporated by reference to Exhibit 4.101 to Credit Acceptance Corporation’s Current Report on Form 8-K filed June 23, 2022).
Certification of principal executive officer and principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
7 unchanged sentences
104 Cover Page Interactive Data File (included in the Exhibit 101 Inline XBRL Document Set).
−Removed: * Management contract or compensatory plan or arrangement.
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.
2 unchanged sentences
(Chief Accounting Officer)
+Added: August 1, 2022
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.