SEC Form 4 · accession 0001395942-15-000168
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen E. Smith
Director
Period of report
Oct 1, 2015
Accepted (ET)
Oct 5, 2015 · 5:39 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001395942
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF4,F5,F6,F1,F2 | — | Oct 1, 2015 | A | 58 | A | — | — | Common Stock | 58 | 284 | D |
| Phantom StockF1,F2,F3 | — | holding | — | — | — | — | — | Common Stock | 7,464 | 7,464 | 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. 2,620 of these shares of restricted stock were granted on 6/3/2015 at a price of $38.18 per share and will be settled only for shares of KAR common stock on a one-for-one basis. These 2,620 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 payment of which 41.6369 shares are vested and the remaining shares will vest as follows: 4 shares vest on 12/2/2015, 5 shares vest on 3/2/2016, and the remaining 4 shares vest on 6/2/2016.
- F6Reflects dividend payment of which 43.1247 shares are vested and the remaining shares will vest as follows: 4.9757 shares vest on 12/2/2015, 4.9832 shares vest on 3/2/2016, and the remaining 4.9757 shares vest on 6/2/2016.