Eric M. Loughmiller - Dec 9, 2022 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

Role
EVP & CFO
Signature
Charles S. Coleman, as Attorney-in-Fact
Stock symbol
KAR
Transactions as of
Dec 9, 2022
Transactions value $
-$38,586
Form type
4
Date filed
12/13/2022, 02:54 PM
Previous filing
Feb 23, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +2.89K +1.04% $0.00 281K Dec 9, 2022 Direct F1, F2
transaction KAR Common Stock Tax liability -$38.6K -2.89K -1.03% $13.37 278K Dec 9, 2022 Direct F3

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 Restricted Stock Units Award $0 +100K $0.00 100K Dec 9, 2022 Common Stock 100K Direct F1, F4
transaction KAR Restricted Stock Units Options Exercise $0 -2.89K -2.89% $0.00 97.1K Dec 9, 2022 Common Stock 2.89K Direct F1, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
F2 Includes shares acquired pursuant to the Company's Employee Stock Purchase Plan.
F3 Shares withheld by the Company to satisfy tax withholding requirements.
F4 These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock as follows: one-third of these restricted stock units vest on May 9, 2023, one-third of these restricted stock units vest on May 9, 2024 and the remaining one-third of these restricted stock units vest on May 9, 2025, subject to certain continued employment conditions.
F5 Shares withheld to satisfy FICA taxes due in the year the reporting person reaches retirement eligibility. Each remaining restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
F6 These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock as follows: 32,371 of these restricted stock units vest on May 9, 2023, 32,371 of these restricted stock units vest on May 9, 2024 and the remaining 32,372 of these restricted stock units vest on May 9, 2025, subject to certain continued employment conditions.