Credit Acceptance Corporation

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On September 3, 2026, Credit Acceptance Corporation (referred to as the “Company,” “Credit Acceptance,” “we,” “our” or “us”) entered into a separation agreement and general release (the “Separation Agreement”) with Jay D. Martin, the Company’s former Chief Financial Officer, who had been serving as an employee advisor to the Company since his tenure as Chief Financial Officer ended on July 27, 2026. The Separation Agreement provides for Mr. Martin to continue to serve as an unsalaried employee advisor to the Company from September 3, 2026, through February 1, 2027 (the “Term”), and to provide approximately 15 hours of advisory services per month to the Company during the Term. Under the terms of the Settlement Agreement, the Company will provide Mr. Martin with a lump sum payment in a pre-tax amount of $4,000, representing his benefit premiums (if elected) under the Consolidated Omnibus Budget Reconciliation Act of 1985, based on his election coverage on September 3, 2026, through the end of the Term, and will provide Mr. Martin with three months of medical, dental, and vision benefits during the Term at no cost to Mr. Martin. Mr. Martin will continue to vest in his outstanding equity awards during the Term in accordance with the existing vesting schedule applicable to those awards. The Separation Agreement includes a general release of claims by Mr. Martin in favor of the Company.