Davis Justin T. - 04 Mar 2023 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

Role: President of BacklotCars
Signature: Charles S. Coleman, Attorney-in-Fact
Issuer symbol: KAR
Transactions as of: 04 Mar 2023
Net transactions value: -$20,732
Form type: 4
Filing time: 06 Mar 2023, 17:11:42 UTC
Previous filing: 13 Dec 2022
Next filing: 11 May 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	+4,526	+1.1%	$0.000000	408,963	04 Mar 2023	Direct	F1
transaction	KAR	Common Stock	Tax liability	$20,732	-1,461	-0.36%	$14.19	407,502	04 Mar 2023	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	Options Exercise	$0	-4,526	-50%	$0.000000	4,526	04 Mar 2023	Common Stock	4,526		Direct	F3, 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. The restricted stock units vested in common stock on March 4, 2023.
F2	Shares withheld by the Company to satisfy tax withholding requirements.
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 vested on March 4, 2022, one-third of these restricted stock units vested on March 4, 2023 and the remaining one-third of these restricted stock units vest on March 4, 2024, assuming continued employment through the applicable vesting date.