Sriram Subrahmanyam - May 9, 2024 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
EVP Ops, Pres Svcs & Intl Mkts
Signature
Charles S. Coleman, as Attorney In Fact
Stock symbol
KAR
Transactions as of
May 9, 2024
Transactions value $
-$100,947
Form type
4
Date filed
5/13/2024, 04:06 PM
Previous filing
May 11, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +20K +48.95% $0.00 60.9K May 9, 2024 Direct F1, F2
transaction KAR Common Stock Tax liability -$101K -5.7K -9.37% $17.71 55.2K May 9, 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 -20K -50% $0.00 20K May 9, 2024 Common Stock 20K 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, 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: one-third of these restricted stock units vested on May 9, 2023, one-third of these restricted stock units vested 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.