Tobin P. Richer - Feb 7, 2024 Form 3 Insider Report for OPENLANE, Inc. (KAR)

Role
EVP Marketing & Communications
Signature
Kristen Trout, as Attorney-In-Fact
Stock symbol
KAR
Transactions as of
Feb 7, 2024
Transactions value $
$0
Form type
3
Date filed
2/16/2024, 11:30 AM
Next filing
May 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding KAR Common Stock 10.6K Feb 7, 2024 Direct

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
holding KAR Restricted Stock Units Feb 7, 2024 Common Stock 13.3K Direct F1, F2
holding KAR Employee Stock Option (right to buy) Feb 7, 2024 Common Stock 6.92K $13.81 Direct F3
holding KAR Employee Stock Option (right to buy) Feb 7, 2024 Common Stock 27.7K $13.81 Direct F4
holding KAR Employee Stock Option (right to buy) Feb 7, 2024 Common Stock 13K $18.23 Direct F5
holding KAR Employee Stock Option (right to buy) Feb 7, 2024 Common Stock 52.1K $18.23 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 9, 2024 and the remaining one-half of these restricted stock units vest on May 9, 2025, assuming continued employment through the applicable vesting date.
F2 Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
F3 These options were granted on March 4, 2021 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.
F4 These options were granted on March 4, 2021 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, $18.81, $23.81, $28.81, and $33.81, for twenty consecutive trading days, subject to continued employment through such vesting date.
F5 These options were granted on June 4, 2021 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.
F6 These options were granted on June 4, 2021 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, $23.23, $28.23, $33.23, and $38.23, for twenty consecutive trading days, subject to continued employment through such vesting date.