Peter J. Kelly - May 9, 2024 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
Chief Executive Officer, Director
Signature
Charles S. Coleman as Attorney-In-Fact
Stock symbol
KAR
Transactions as of
May 9, 2024
Transactions value $
-$373,947
Form type
4
Date filed
5/13/2024, 04:07 PM
Previous filing
Feb 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +49K +14.11% $0.00 396K May 9, 2024 Direct F1
transaction KAR Common Stock Tax liability -$374K -21.1K -5.33% $17.71 375K May 9, 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 -49K -49.51% $0.00 50K May 9, 2024 Common Stock 49K 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 9, 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-third of these restricted stock units vest 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.