SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

DANIELS TERRENCE D

(Last)

(First)

(Middle)

QUAD-C MANAGEMENT, INC

230 EAST HIGH STREET

(Street)

CHARLOTTESVILLE

22902

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ASSET ACCEPTANCE CAPITAL CORP [ AACC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2012

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $0.01 par value per share	08/28/2012		M		1,667	A	$0⁽¹⁾	10,933,718⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,667	A	$0⁽¹⁾	10,935,385⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,667	A	$0⁽¹⁾	10,937,052⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,667	A	$0⁽¹⁾	10,938,719⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		9,306	A	$0⁽²⁾	10,948,025⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		402	A	$0⁽¹⁾	10,948,427⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		334	A	$0⁽¹⁾	10,948,761⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		119	A	$0⁽¹⁾	10,948,880⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		571	A	$0⁽¹⁾	10,949,451⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		566	A	$0⁽¹⁾	10,950,017⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		641	A	$0⁽¹⁾	10,950,658⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		473	A	$0⁽¹⁾	10,951,131⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		579	A	$0⁽¹⁾	10,951,710⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,250	A	$0⁽¹⁾	10,952,960⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,812	A	$0⁽¹⁾	10,954,772⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		726	A	$0⁽¹⁾	10,955,498⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		861	A	$0⁽¹⁾	10,956,359⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,184	A	$0⁽¹⁾	10,957,543⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,147	A	$0⁽¹⁾	10,958,690⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		807	A	$0⁽¹⁾	10,959,497⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,566	A	$0⁽¹⁾	10,961,063⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,186	A	$0⁽¹⁾	10,962,249⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,038	A	$0⁽¹⁾	10,963,287⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,374	A	$0⁽¹⁾	10,964,661⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,420	A	$0⁽¹⁾	10,966,081⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		2,036	A	$0⁽¹⁾	10,968,117⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,395	A	$0⁽¹⁾	10,969,512⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,058	A	$0⁽²⁾	10,970,570⁽³⁾	D
Common Stock, $0.01 par value per share	08/28/2012		M		1,063	A	$0⁽²⁾	10,971,633⁽³⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽⁴⁾	08/28/2012		M			1,667	⁽⁶⁾	⁽⁶⁾	Common Stock, $0.01 par value per share	1,667	$0	0	D
Restricted Stock Units	⁽⁴⁾	08/28/2012		M			1,667	⁽⁶⁾	⁽⁶⁾	Common Stock, $0.01 par value per share	1,667	$0	0	D
Restricted Stock Units	⁽⁴⁾	08/28/2012		M			1,667	⁽⁶⁾	⁽⁶⁾	Common Stock, $0.01 par value per share	1,667	$0	0	D
Restricted Stock Units	⁽⁴⁾	08/28/2012		M			1,667	⁽⁶⁾	⁽⁶⁾	Common Stock, $0.01 par value per share	1,667	$0	0	D
Restricted Stock Units	⁽⁴⁾	08/28/2012		M			9,306	⁽⁶⁾	⁽⁶⁾	Common Stock, $0.01 par value per share	9,306	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			402	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	402	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			334	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	334	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			119	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	119	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			571	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	571	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			566	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	566	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			641	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	641	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			473	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	473	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			579	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	579	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,250	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,250	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,812	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,812	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			726	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	726	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			861	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	861	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,184	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,184	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,147	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,147	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			807	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	807	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,566	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,566	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,186	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,186	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,038	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,038	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,374	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,374	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,420	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,420	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			2,036	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	2,036	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,395	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,395	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,058	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,058	$0	0	D
Deferred Stock Units	⁽⁵⁾	08/28/2012		M			1,063	⁽⁷⁾	⁽⁷⁾	Common Stock, $0.01 par value per share	1,063	$0	0	D

Explanation of Responses:

1. Restricted Stock Units ("RSUs") and Deferred Stock Units ("DSUs") issued to the reporting person under the Company's 2004 Stock Incentive Plan, as amended, became payable on August 28, 2012, the date on which the reporting person ceased to be a member of the Company's Board of Directors.

2. Restricted Stock Units ("RSUs") and Deferred Stock Units ("DSUs") issued to the reporting person under the Company's 2012 Stock Incentive Plan became payable on August 28, 2012, the date on which the reporting person ceased to be a member of the Company's Board of Directors.

3. The shares of common stock beneficially owned by Mr. Daniels include 10,932,051 shares held by AAC Quad-C Investors LLC. Mr. Daniels serves as manager of AAC Quad-C Investors LLC and has shared voting and investment power with respect to the shares held by AAC Quad-C Investors LLC. Mr. Daniels disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.

4. Each RSU converts to shares of common stock, $0.01 par value per share, on a one-to-one basis.

5. Each DSU converts to shares of common stock, $0.01 par value per share, on a one-to-one basis.

6. Each RSU fully vests on the reporting person's separation from service to the Company.

7. Each DSU fully vests on the reporting person's separation from service to the Company.

	/s/ Edwin L. Herbert, attorney-in-fact for Terrence D. Daniels	08/30/2012
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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