Brad S. Lakhia - 05 May 2024 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
EVP & CFO
Signature
Charles S. Coleman, as Attorney-in-Fact
Issuer symbol
KAR
Transactions as of
05 May 2024
Net transactions value
-$73,732
Form type
4
Filing time
06 May 2024, 17:45:03 UTC
Previous filing
09 May 2023
Next filing
15 Nov 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +13,486 $0.000000 13,486 05 May 2024 Direct F1
transaction KAR Common Stock Tax liability $73,732 -4,168 -31% $17.69 9,318 05 May 2024 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 -13,486 -50% $0.000000 13,487 05 May 2024 Common Stock 13,486 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 5, 2024.
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-half of these restricted stock units vested on May 5, 2024 and the remaining one-half of these restricted stock units vest on May 5, 2025, assuming continued employment through the applicable vesting date.