Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
- Peter Lynch
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
CREDIT ACCEPTANCE CORPORATION
(Name of Issuer)
Common Stock
(Title of Class of Securities)
225310 10 1
(CUSIP Number)
August 14, 2022
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
| ¨ | Rule 13d-1(b) |
| x | Rule 13d-1(c) |
| ¨ | Rule 13d-1(d) |
*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| Schedule 13G | Page 2 of 5 |
CUSIP No. 225310 10 1
| 1. | Names of Reporting Persons. John P. Neary, not individually but solely as a co-trustee of the Donald A. Foss Irrevocable Trust Dated August 14, 2022
|
| 2. |
Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨ (b) ¨
|
| 3. | SEC Use Only
|
| 4. | Citizenship or Place of Organization: United States of America
|
| Number of Shares Beneficially Owned by Each Reporting Person With: |
5. | Sole Voting Power: 0
|
| 6. | Shared Voting Power: 1,452,797
| |
| 7. | Sole Dispositive Power:
| |
| 8. | Shared Dispositive Power: 1,452,797
|
| 9. | Aggregate Amount Beneficially Owned by Each Reporting Person: 1,452,797
|
| 10. | Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ¨
|
| 11. | Percent of Class Represented by Amount in Row (9): 11.24%*
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| 12. | Type of Reporting Persons (See Instructions): IN
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* The percentage is calculated based upon total outstanding shares of 12,921,686, as of July 25, 2022, as set forth in the Issuer’s Form 10-Q dated August 1, 2022.
| Schedule 13G | Page 3 of 5 |
| Item 1. (a) | Name of Issuer: Credit Acceptance Corporation |
| Item 1. (b) | Address of Issuer's Principal Executive Offices: 25505 West Twelve Mile Road, Southfield, MI 48034-8339 |
| Item 2. (a) | Name of Person Filing: John P. Neary |
| Item 2. (b) | Address of Principal Business Office or, if none, Residence: 101 W 14 Mile Road, Madison Heights, MI 48071 |
| Item 2. (c) | Citizenship: John P. Neary is a citizen of the United States of America |
| Item 2. (d) | Title of Class of Securities: Common Stock |
| Item 2. (e) | CUSIP Number: 225310 10 1 |
Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: Not applicable
Item 4. Ownership
Reference is made to Items 5-11 on the preceding pages of this Schedule 13G.
Mr. Neary is the co-trustee of Donald A. Foss Irrevocable Trust Dated August 14, 2022. Mr. Neary disclaims beneficial ownership of the 1,452,797 shares owned by such trust.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
| Schedule 13G | Page 4 of 5 |
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certifications
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
| Schedule 13G | Page 5 of 5 |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| Date: September 23, 2022 | |||
| /s/ John P. Neary | |||
| Name: John P. Neary, Co-Trustee |