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OPENLANE, Inc. — Director's Dealing 2011
Nov 8, 2011
31385_dirs_2011-11-08_369fc0b6-75e0-4d73-9f0e-5cc0a25e3c6c.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: KAR Auction Services, Inc. (KAR)
CIK: 0001395942
Period of Report: 2011-11-04
Reporting Person: Peter Kelly (Pres. & CEO, OPENLANE)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-11-04 | Employee Stock Option (right to buy) | $12.97 | A | 350000 | Acquired | 2021-11-04 | Common Stock (350000) | Direct |
Footnotes
F1: These options are service options that vest based upon the passage of time and the reporting person's continued service with the company. These options will vest as follows: 25% of these options become exercisable on 11/4/2012, 25% of these options become exercisable on 11/4/2013, 25% of these options become exercisable on 11/4/2014, and the remaining 25% become exercisable on 11/4/2015.
F2: An additional condition to vesting is that the reporting person must be a director, officer, employee, consultant or agent of the Company or any of its subsidiaries on the date on which the conditions above are satisfied.