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OPENLANE, Inc. — Director's Dealing 2011
May 16, 2011
31385_dirs_2011-05-16_9502334e-3ff8-4ff9-b178-ff7d44f9341f.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: 2011-05-12
Reporting Person: WARD JONATHAN P (Director)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-05-12 | Phantom Stock | $0 | A | 3887 | Acquired | Common Stock (3887) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 7572 | Direct |
Footnotes
F1: The phantom stock will convert into shares of KAR common stock on a one-for-one basis.
F2: Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan. Shares of restricted stock were granted on May 12, 2011 at a price of $19.30 per share and will be settled only for shares of KAR common stock on a one-for-one basis. These 3,887 shares of restricted stock were granted pursuant to the KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan and one-fourth of the grant vests every three months from the date of grant (May 12, 2011) and such grant is subject to forfeiture until vested.
F3: The reporting person will receive shares of KAR common stock, on a one-for-one basis, at a future date(s) specified by him pursuant to the deferred compensation plan.