Justin T. Davis - Jun 4, 2021 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

Role: President of BacklotCars
Signature: Charles S. Coleman, Attorney-in-Fact
Stock symbol: KAR
Transactions as of: Jun 4, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/8/2021, 08:54 PM
Next filing: Mar 8, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	KAR	Employee Stock Option (right to buy)	Award	$0	+39.1K		$0.00	39.1K	Jun 4, 2021	Common Stock	39.1K	$18.23	Direct	F1
transaction	KAR	Employee Stock Option (right to buy)	Award	$0	+157K		$0.00	157K	Jun 4, 2021	Common Stock	157K	$18.23	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These options were granted on June 4, 2021 and will vest and become exercisable in equal installments on each of the first four anniversaries of the grant date, subject to continued employment through such vesting date.
F2	These options were granted on June 4, 2021 and will become eligible to vest and become exercisable in equal 25% increments, each upon the later of the occurrence of the first four anniversaries of the grant date, respectively, and the attainment of the closing price of the Company's common stock at or above, for each respective 25% increment, $23.23, $28.23, $33.23, and $38.23, for twenty consecutive trading days, subject to continued employment through such vesting date.

Content

These options were granted on June 4, 2021 and will vest and become exercisable in equal installments on each of the first four anniversaries of the grant date, subject to continued employment through such vesting date.

These options were granted on June 4, 2021 and will become eligible to vest and become exercisable in equal 25% increments, each upon the later of the occurrence of the first four anniversaries of the grant date, respectively, and the attainment of the closing price of the Company's common stock at or above, for each respective 25% increment, $23.23, $28.23, $33.23, and $38.23, for twenty consecutive trading days, subject to continued employment through such vesting date.