Justin T. Davis - May 9, 2023 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

Role
President of BacklotCars
Signature
Charles S. Coleman, Attorney-in-Fact
Stock symbol
KAR
Transactions as of
May 9, 2023
Transactions value $
-$65,083
Form type
4
Date filed
5/11/2023, 06:04 PM
Previous filing
Mar 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +15K +3.68% $0.00 423K May 9, 2023 Direct F1
transaction KAR Common Stock Tax liability -$65.1K -4.31K -1.02% $15.09 418K May 9, 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 -15K -33.33% $0.00 30K May 9, 2023 Common Stock 15K 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 May 9, 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 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, assuming continued employment through the applicable vesting date.