Tobin P. Richer - 09 May 2024 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
EVP Marketing & Communications
Signature
Kristen Trout, as Attorney-In-Fact
Issuer symbol
KAR
Transactions as of
09 May 2024
Net transactions value
-$34,747
Form type
4
Filing time
13 May 2024, 16:08:18 UTC
Previous filing
16 Feb 2024
Next filing
21 Feb 2025
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 +6,667 +63% $0.000000 17,235 09 May 2024 Direct F1
transaction KAR Common Stock Tax liability $34,747 -1,962 -11% $17.71 15,273 09 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 -6,667 -50% $0.000000 6,667 09 May 2024 Common Stock 6,667 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 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.