Scott A. Anderson - 28 Feb 2023 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

Role: Interim CFO & CAO
Signature: Charles S. Coleman, as Attorney-in-Fact
Issuer symbol: KAR
Transactions as of: 28 Feb 2023
Net transactions value: -$7,531
Form type: 4
Filing time: 01 Mar 2023, 20:18:56 UTC
Previous filing: 27 Feb 2023
Next filing: 06 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KAR	Common Stock	Options Exercise	$0	+2,015	+10%	$0.000000	21,431	28 Feb 2023	Direct	F1, F2
transaction	KAR	Common Stock	Tax liability	$7,531	-527	-2.5%	$14.29	20,904	28 Feb 2023	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	Options Exercise	$0	-2,015	-33%	$0.000000	4,103	28 Feb 2023	Common Stock	2,015		Direct	F1, F4

* 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 vested on February 28, 2023, one-third of these restricted stock units vest on February 28, 2024 and the remaining one-third of these restricted stock units vest on February 28, 2025, assuming continued employment through the applicable vesting date.