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OPENLANE, Inc. — Director's Dealing 2016
Jun 6, 2016
31385_dirs_2016-06-06_e2070894-bf52-4769-98df-95252d630da1.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: 2016-06-03
Reporting Person: Hammer John C (President and CEO of AFC)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2016-06-03 | Common Stock | M | 32000 | $16.07 | Acquired | 32000 | Direct |
| 2016-06-03 | Common Stock | S | 32000 | $40.8301 | Disposed | 0 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2016-06-03 | Employee Stock Option (right to buy) | $16.07 | A | 32000 | Disposed | 2022-02-28 | Common Stock (32000.0) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 593 | Direct |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Restricted Stock Units | $ | Common Stock (1906.0) | 1906 | Direct |
Footnotes
F1: The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $40.7500 to $40.9700 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
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 set forth above are satisfied.
F3: 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 2/20/16.
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 2/20/2016, one-third of these restricted stock units will vest on 2/20/2017 and the remaining one-third of these restricted stock units will vest on 2/20/2018, assuming continued employment through the applicable vesting date.