secwatch.observer — SEC 8-K summary
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Issuer:     ACV Auctions Inc. (ACVA)
CIK:        0001637873
Form:       8-K
Filed at:   2026-05-13T13:03:55+00:00
Accession:  0001637873-26-000023
Event type: other_material
Sentiment:  positive
Materiality: 0.65
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ACV Auctions enters $50M accelerated share repurchase with Citibank; initial ~70% delivery
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- On May 12, 2026, ACV Auctions entered an ASR agreement with Citibank for $50M share repurchase.
- Company will pay $50M on May 13, 2026; expects initial delivery of approximately 70% of underlying shares.
- Final repurchased shares based on VWAP over the term less a discount, subject to adjustments.
- Completion expected no later than Q4 2026 under previously announced buyback program.
- Agreement includes standard representations, early termination conditions, and calculation agent provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1637873/000163787326000023/0001637873-26-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1637873/000163787326000023/acva-20260512.htm
  HTML page:      https://secwatch.observer/filing/0001637873-26-000023

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