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*
Watson Jill Foss
(Last) (First) (Middle)
25505 W 12 MILE RD
SUITE 4125
(Street)
SOUTHFIELD MI 48034
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
CREDIT ACCEPTANCE CORP [ CACC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
04/22/2016
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)
Code V Amount (A) or (D) Price
Common Stock 04/22/2016 S 9,000 D $203.3102 273,109 I See footnote(1)
Common Stock 04/22/2016 S 1,912 D $198 271,197 I See footnote(2)
Common Stock 04/25/2016 S 2,973 D $198.0341 268,224 I See footnote(3)
Common Stock 04/26/2016 S 1,115 D $199.36 267,109 I See footnote(4)
Common Stock 659,929 I See footnote(5)
Common Stock 1,402,599 I See footnote(6)
Common Stock 68,011 I See footnote(7)
Common Stock 270,000 I See footnote(8)
Common Stock 2,146(9) I By son
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson 2014 Grantor Retained Annuity Trust. The total number of shares further reflects a transfer of 117,891 shares from the Jill Foss Watson 2014 Grantor Retained Annuity Trust to the Jill Foss Watson Living Trust.
2. These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson 2014 Grantor Retained Annuity Trust.
3. These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson 2014 Grantor Retained Annuity Trust.
4. These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson 2014 Grantor Retained Annuity Trust.
5. These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson Living Trust. The total number of shares reflects a transfer of 270,000 shares from the Jill Foss Watson Living Trust to the Jill Foss Watson 2016 Grantor Retained Annual Trust, as well as a transfer of 117,891 shares from the Jill Foss Watson 2014 Grantor Retained Annual Trust to the Jill Foss Watson Living Trust.
6. These shares are owned of record by Jill Foss Watson, as Trustee of the Karol A. Foss Irrevocable Grandchildren's Trust.
7. These shares are owned of record by Todd Watson, spouse of Jill Foss Watson, as trustee of the Jill Foss Watson Irrevocable Trust.
8. These shares are owned of record by Jill Foss Watson, as Trustee of the Jill Foss Watson 2016 Grantor Retained Annuity Trust. The total reflects a transfer of 270,000 shares from the Jill Foss Watson Living Trust to the Jill Foss Watson 2016 Grantor Retained Annuity Trust.
9. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or any other purpose.
Bradley J. Wyatt, Attorney-in-Fact 04/26/2016
** 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).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.