Brad S. Lakhia - 05 May 2023 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

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

Type	Sym	Class	Transaction	Value $	Shares	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	KAR	Employee Stock Option (right to buy)	Award	$0	+53,222	$0.000000	53,222	05 May 2023	Common Stock	53,222	$14.83	Direct	F1
transaction	KAR	Employee Stock Option (right to buy)	Award	$0	+212,886	$0.000000	212,886	05 May 2023	Common Stock	212,886	$14.83	Direct	F2
transaction	KAR	Restricted Stock Units	Award	$0	+26,973	$0.000000	26,973	05 May 2023	Common Stock	26,973		Direct	F3, F4

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

Id	Content
F1	These options were granted on May 5, 2023 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 May 5, 2023 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, $19.83, $24.83, $29.83, and $34.83, for twenty consecutive trading days, subject to continued employment through such vesting date.
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-half of these restricted stock units vest on May 5, 2024 and the remaining one-half of these restricted stock units vest on May 5, 2025, assuming continued employment through the applicable vesting date.