OPENLANE, Inc. — Director's Dealing 2025

Oct 10, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: OPENLANE, Inc. (KAR)
CIK: 0001395942
Period of Report: 2025-10-08

Reporting Person: Ignition Acquisition Holdings LP (N/A)
Reporting Person: Ignition Acquisition Holdings GP LLC (N/A)
Reporting Person: Ignition Parent LP (N/A)
Reporting Person: Ignition GP LLC (N/A)
Reporting Person: Ignition Topco Ltd (N/A)
Reporting Person: Apax X GP Co. Ltd (N/A)
Reporting Person: Apax Guernsey (Holdco) PCC Ltd (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-10-08	Series A Preferred Stock	$	S	288322	Disposed		Common Stock (16243485)	Indirect

Footnotes

F1: Reflects Series A Preferred Stock, par value $0.01 per share, of the Issuer ("Series A Preferred Stock"). The Series A Preferred Stock has no stated maturity, and beginning on June 10, 2021, the Series A Preferred Stock were convertible at the option of the holders thereof into shares of common stock, par value $0.01 per share, of the Issuer ("Common Stock") at an initial conversion price of $17.75 per share of Series A Preferred Stock and an initial conversion rate of 56.3380 shares of Common Stock per share of Series A Preferred Stock, subject to adjustment as provided in the Certificate of Designations of the Series A Preferred Stock ("Certificate of Designations"). The Issuer may mandatorily convert the Series A Preferred Stock into Common Stock at any time after the three-year anniversary of the issuance, if certain conditions are met.

F2: Reflects a repurchase by the Issuer of 288,322 shares of Series A Preferred Stock from the Reporting Persons for aggregate consideration of $482,431,500.

F3: The amount reported as beneficially owned includes Series A Preferred Stock received as dividends but excludes accrued dividends not yet declared by the Issuer pursuant to the terms of the Certificate of Designations.

F4: Reflects securities held directly by Ignition Acquisition Holdings LP. Ignition Acquisition Holdings GP LLC is the general partner of Ignition Acquisition Holdings LP. Ignition Parent LP is the sole member of Ignition Acquisition Holdings GP LLC. Ignition GP LLC is the general partner of Ignition Parent LP. Ignition Topco Ltd is the sole member of Ignition GP LLC. Apax X GP Co. Limited, in its capacity as investment manager of the Apax funds, controls 100% of the shares of Ignition Topco Ltd. Apax Guernsey (Holdco) PCC Limited Apax X Cell is the sole parent of Apax X GP Co. Limited.

F5: Each of the Reporting Persons may be deemed to beneficially own the securities beneficially owned by Ignition Acquisition Holdings LP directly or indirectly controlled by it, but each (other than Ignition Acquisition Holdings LP to the extent of its direct holdings) disclaims beneficial ownership of such shares, except to the extent of such Reporting Person's pecuniary interest therein. The filing of this statement shall not be deemed to be an admission that, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the Reporting Persons are the beneficial owners of any securities reported herein.