SEC Form 4 · accession 0001395942-15-000082
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kelly Peter
Officer — CTO & Pres of Digital Srvs Grp
Period of report
Jun 1, 2015
Accepted (ET)
Jun 2, 2015 · 11:34 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 | Jun 1, 2015 | M | 15,000 | $12.97 | A | 15,000 | D | |
| Common Stock | Jun 1, 2015 | S | 15,000 | $37.13 | 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)F1,F2 | $12.97 | Jun 1, 2015 | A | 15,000 | D | — | Nov 4, 2021 | Common Stock | 15,000 | 275,000 | D |
Explanation of responses
- F1These options are service options that vest based upon the passage of time and the reporting person's continued service with the company. 187,500 of these options are currently exercisable and the remaining 87,500 become exercisable on 11/4/2015.
- 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 above are satisfied.