OPENLANE, Inc. — Director's Dealing 2023

May 9, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: KAR Auction Services, Inc. (KAR)
CIK: 0001395942
Period of Report: 2023-05-05

Reporting Person: Lakhia Brad S. (EVP & CFO)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-05-05	Employee Stock Option (right to buy)	$14.83	A	53222	Acquired	2033-05-05	Common Stock (53222.0)	Direct
2023-05-05	Employee Stock Option (right to buy)	$14.83	A	212886	Acquired	2033-05-05	Common Stock (212886.0)	Direct
2023-05-05	Restricted Stock Units	$	A	26973	Acquired		Common Stock (26973.0)	Direct

Footnotes

F1: These options were granted on May 5, 2023 and will vest and become exercisable in equal installments on each of the first four anniversaries of the grant date, subject to continued employment through such vesting date.

F2: These options were granted on May 5, 2023 and will become eligible to vest and become exercisable in equal 25% increments, each upon the later of the occurrence of the first four anniversaries of the grant date, respectively, and the attainment of the closing price of the Company's common stock at or above, for each respective 25% increment, $19.83, $24.83, $29.83, and $34.83, for twenty consecutive trading days, subject to continued employment through such vesting date.

F3: Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.

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-half of these restricted stock units vest on May 5, 2024 and the remaining one-half of these restricted stock units vest on May 5, 2025, assuming continued employment through the applicable vesting date.