Credit Acceptance Corporation formalizes CFO separation with Jay D. Martin through February 2027
In focus for $CACC: a separation agreement and general release with Jay D. Martin, who stepped down as Chief Financial Officer of Credit Acceptance Corporation on July 27, 2026, and has been serving the Southfield…
Key takeaways
- Jay D. Martin stepped down as CFO of Credit Acceptance Corporation on July 27, 2026, and has since served as an employee advisor.
- On September 3, 2026, Credit Acceptance formalized a separation agreement and general release with Martin, binding both parties through February 1, 2027.
- Martin's advisory commitment runs about 15 hours per month, with cash consideration limited to a pre-tax $4,000 lump sum covering COBRA premiums through the term.
- Martin receives three months of medical, dental, and vision benefits at no cost, and his equity awards continue vesting on the original schedule through February 1, 2027.
- The filing names no permanent CFO, and Chief Legal Officer Erin J. Kerber signed it on September 4 on behalf of the company.
In focus for $CACC: a separation agreement and general release with Jay D. Martin, who stepped down as Chief Financial Officer of Credit Acceptance Corporation on July 27, 2026, and has been serving the Southfield, Michigan-based auto finance company as an employee advisor since. On September 3, 2026, Credit Acceptance formalized that arrangement, binding both parties through February 1, 2027. The next confirmable development on the management front is a filing naming a permanent CFO.
Martin's advisory commitment runs to approximately 15 hours per month. The cash consideration is limited: a pre-tax lump sum of $4,000 covering his COBRA benefit premiums through the end of the term, calculated against his coverage election as of September 3, 2026. Three months of medical, dental, and vision benefits also extend to him at no cost. That benefit window runs shorter than the advisory term itself, which carries through to February 1.
Equity vesting continues on the existing schedule through February 1, 2027. Martin's outstanding awards stay on their original timeline, keeping his interest in Nasdaq-listed $CACC shares intact through the advisory window. The agreement includes a general release of claims by Martin in favor of the company.
The filing names no permanent CFO. For the setup, that is the open variable. Credit Acceptance's guidance posture and margin cadence are where a finance chief's imprint tends to be most visible, and the tape will be watching for a follow-on 8-K that identifies a replacement. Erin J. Kerber, the company's Chief Legal Officer, Chief Compliance Officer and Secretary, signed the September 4 filing on behalf of Credit Acceptance.