Peter J. Kelly - May 9, 2023 Form 4 Insider Report for KAR Auction Services, Inc. (KAR)

Role
Chief Executive Officer, Director
Signature
Charles S. Coleman as Attorney-In-Fact
Stock symbol
KAR
Transactions as of
May 9, 2023
Transactions value $
-$229,172
Form type
4
Date filed
5/11/2023, 06:05 PM
Previous filing
Feb 22, 2023
Next filing
Dec 12, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +50K +17.95% $0.00 329K May 9, 2023 Direct F1, F2
transaction KAR Common Stock Tax liability -$229K -15.2K -4.62% $15.09 313K May 9, 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 -50K -33.33% $0.00 100K May 9, 2023 Common Stock 50K Direct F4, F5
* 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 Includes shares acquired pursuant to the Company's Employee Stock Purchase Plan.
F3 Shares withheld by the Company to satisfy tax withholding requirements.
F4 Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
F5 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.