William Clyde Mitchell - May 9, 2024 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Role
President of AFC
Signature
Kristen Trout, as Attorney-In-Fact
Stock symbol
KAR
Transactions as of
May 9, 2024
Transactions value $
-$5,065
Form type
4
Date filed
5/13/2024, 04:09 PM
Previous filing
Apr 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +1K +12.01% $0.00 9.32K May 9, 2024 Direct F1, F2
transaction KAR Common Stock Tax liability -$5.07K -286 -3.07% $17.71 9.04K 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 -1K -50% $0.00 1K May 9, 2024 Common Stock 1K 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.