Scott A. Anderson - Feb 22, 2024 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
Chief Accounting Officer
Signature
Charles S. Coleman, Attorney-in-Fact
Stock symbol
KAR
Transactions as of
Feb 22, 2024
Transactions value $
-$10,783
Form type
4
Date filed
2/26/2024, 10:03 AM
Previous filing
Dec 12, 2023
Next filing
Feb 29, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +2.75K +10.26% $0.00 29.5K Feb 24, 2024 Direct F1, F2
transaction KAR Common Stock Tax liability -$10.8K -716 -2.43% $15.06 28.8K Feb 24, 2024 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 -2.75K -32.94% $0.00 5.59K Feb 24, 2024 Common Stock 2.75K Direct F4, F5
transaction KAR Restricted Stock Units Award $0 +8.19K $0.00 8.19K Feb 22, 2024 Common Stock 8.19K Direct F4, F6
* 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 February 24, 2024.
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: 2,745 of these restricted stock units vested on February 24, 2024, 2,759 of these restricted stock units vest on February 24, 2025 and the remaining 2,829 of these restricted stock units vest on February 24, 2026, assuming continued employment through the applicable vesting date.
F6 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 vest on February 22, 2025, one-third of these restricted stock units vest on February 22, 2026 and the remaining one-third of these restricted stock units vest on February 22, 2027, assuming continued employment through the applicable vesting date.