SEC Form 4 · accession 0001395942-15-000078
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John C Hammer
Officer — President and CEO of AFC
Period of report
May 11, 2015
Accepted (ET)
May 12, 2015 · 10:27 am 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 11, 2015 | M | 7,500 | $10.00 | A | 7,500 | D | |
| Common StockF1 | May 11, 2015 | S | 7,500 | $37.4919 | D | 0 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F2,F3 | $10.00 | May 11, 2015 | A | 7,500 | D | — | Jul 29, 2019 | Common Stock | 7,500 | 24,166 | D |
| Employee Stock Option (right to buy)F2,F4 | $16.07 | holding | — | — | — | — | Feb 28, 2022 | Common Stock | 32,000 | 32,000 | D |
Explanation of responses
- F1The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $37.48 to $37.51, inclusive. The reporting person undertakes to provide to KAR Auction Services, Inc., any security holder of KAR Auction Services, Inc., or the staff of the Securities and Exchange Commission , upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- F2An 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.
- F324,166 of these performance options are currently exercisable.
- F424,000 of these service options are currently exercisable and 8,000 of these options become exercisable on 2/28/2016.