William Clyde Mitchell - 09 May 2024 Form 4 Insider Report for OPENLANE, Inc. (KAR)

Signature
Kristen Trout, as Attorney-In-Fact
Issuer symbol
KAR
Transactions as of
09 May 2024
Net transactions value
-$5,065
Form type
4
Filing time
13 May 2024, 16:09:37 UTC
Previous filing
10 Apr 2024
Next filing
25 Feb 2025

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction KAR Common Stock Options Exercise $0 +1,000 +12% $0.000000 9,323 09 May 2024 Direct F1, F2
transaction KAR Common Stock Tax liability $5,065 -286 -3.1% $17.71 9,037 09 May 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 -1,000 -50% $0.000000 1,000 09 May 2024 Common Stock 1,000 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.