SEC Form 4 · accession 0001395942-15-000076
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Mark E Hill
Director
Period of report
May 8, 2015
Accepted (ET)
May 11, 2015 · 6:48 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001395942
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | May 8, 2015 | A | 5,000 | $37.50 | A | 13,500 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF1,F2,F3 | — | holding | — | — | — | — | — | Common Stock | 3,168 | 3,168 | D |
| Phantom StockF4,F5,F1,F2 | — | holding | — | — | — | — | — | Common Stock | 104 | 104 | D |
Explanation of responses
- F1The phantom stock will convert into shares of KAR common stock on a one-for-one basis.
- F2The 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.
- F3Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan. 3,168 shares of restricted stock were granted on 6/10/2014 at a price of $31.57 per share and will be settled only for shares of KAR common stock on a one-for-one basis. These 3,168 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 the grant and such grant is subject to forfeiture until vested.
- F4Reflects the reinvestment of dividend equivalents in additional shares of phantom stock pursuant to the terms of the KAR Auction Services, Inc. Directors Deferred Compensation Plan.
- F5Reflects dividend payments of which 78 shares are vested and the remaining 26 shares vest on 6/9/2015.