Kestner Michael T. - 02 Jun 2023 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
Director
Signature
Charles S. Coleman as Attorney-In-Fact
Issuer symbol
KAR
Transactions as of
02 Jun 2023
Net transactions value
+$170,003
Form type
4
Filing time
06 Jun 2023, 15:23:37 UTC
Previous filing
06 Jun 2022
Next filing
11 Jun 2024
SEC
View on sec.gov

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 Phantom Stock Award $170,003 +11,032 +20% $15.41 66,235 02 Jun 2023 Common Stock 11,032 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The phantom stock will convert into shares of KAR common stock on a one-for-one basis.
F2 Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan. 11,032 shares of phantom stock vest on June 2, 2024, and are subject to forfeiture until vested. All other shares of phantom stock are vested.
F3 The reporting person will receive shares of KAR common stock, on a one-for-one basis, at a future date(s) specified by him subject to the terms and conditions of the KAR Auction Services, Inc. Directors Deferred Compensation Plan.