James P. Hallett - Dec 9, 2022 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

Role: Executive Chairman, Director
Signature: Charles S. Coleman, as Attorney-in-Fact
Stock symbol: KAR
Transactions as of: Dec 9, 2022
Transactions value $: -$65,620
Form type: 4
Date filed: 12/13/2022, 02:54 PM
Previous filing: May 13, 2022
Next filing: Feb 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KAR	Common Stock	Options Exercise	$0	+4.91K	+0.78%	$0.00	631K	Dec 9, 2022	Direct	F1
transaction	KAR	Common Stock	Tax liability	-$65.6K	-4.91K	-0.78%	$13.37	626K	Dec 9, 2022	Direct	F2

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	+150K		$0.00	150K	Dec 9, 2022	Common Stock	150K		Direct	F3, F4
transaction	KAR	Restricted Stock Units	Options Exercise	$0	-4.91K	-3.27%	$0.00	145K	Dec 9, 2022	Common Stock	4.91K		Direct	F1, F3, F5

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

Explanation of Responses:

Id	Content
F1	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.
F2	Shares withheld to satisfy FICA taxes due in the year the reporting person reaches retirement eligibility.
F3	Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
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	These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock as follows: 48,364 of these restricted stock units vest on May 9, 2023, 48,364 of these restricted stock units vest on May 9, 2024 and the remaining 48,364 of these restricted stock units vest on May 9, 2025, subject to certain continued employment conditions.