Early Release FAQs
ACV Auctions Inc.
Early Release From Lock-Up
Frequently Asked Questions
As announced in a press release made by ACV Auctions Inc. (“ACV”) on May 13, 2021, the conditions for the partial early release from lockup have been met. Pursuant to the lock-up agreements, 25% of eligible holdings will be released from lockup on May 18, 2021. The lock-up restrictions will continue to apply with respect to all remaining securities subject to the lock-up agreements.
Below are frequently asked questions and answers about accessing shares that have been released from lock-up:
1) Where are my shares held and how do I view my holdings?
Shares are presently held at ACV’s transfer agent, Computershare.
For investors that already have a Computershare account, holdings and statements should be visible in your existing account by or before Monday, May 17.
For investors that do not presently have a Computershare account, a paper mailing with instructions to access your account and view your statements is being sent to your physical address on file the week of May 17. If you need your account information sooner, you may email email@example.com on or after May 17 and request your electronic statement; the electronic statement will then be provided to you via email. In order to be honored, all email requests must come from the email address on file associated with your investment.
2) How do I move my released shares to a brokerage account?
You must contact ACV at firstname.lastname@example.org and request for your shares to be moved to a broker account. ACV will confirm the shares are eligible to be released, and notify Computershare of the request. Computershare will then prepare the shares for transfer via Direct Registration System (DRS). By requesting your shares to be moved to a broker account, you consent to your shares being converted from Class B to Class A common stock. A description of each share class is included in our Prospectus for our initial public offering on file with the SEC.
Once the conversion from Class B to Class A common stock has been processed by Computershare, your broker then must initiate the transfer using the instructions on the electronic statement (accessible in your Computershare account or by emailing email@example.com).
The entire process to convert and then transfer shares to a brokerage account may take several business days to complete.
3) Can I move more than 25% of my holdings to my brokerage account?
Not at this time. The early lock-up release provided for 25% of holdings to be released from lock-up upon the meeting of the conditions. The remaining 75% of shares remain restricted and must be held at Computershare until the full lockup period has elapsed.
4) Who can I contact with additional questions?
Any questions for ACV may be sent to firstname.lastname@example.org.
Any questions for Computershare (www.computershare.com) may be directed using the options below:
Telephone inquiries: 1-800-736-3001 (U.S.)
E-mail inquiries: email@example.com
P.O. Box 505000
Louisville KY 40233-5000
By Overnight Delivery:
462 South 4th Street, Suite 1600
Louisville KY 40202