SEC Form 4 · accession 0001395942-16-000229
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen E. Smith
Director
Period of report
Jan 7, 2016
Accepted (ET)
Jan 11, 2016 · 7:37 pm EST
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 StockF1 | holding | — | — | — | 170 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF5,F6,F7,F8,F2,F3 | — | Jan 7, 2016 | A | 61 | A | — | — | Common Stock | 61 | 345 | D |
| Phantom StockF2,F3,F4 | — | holding | — | — | — | — | — | Common Stock | 7,464 | 7,464 | D |
Explanation of responses
- F1These shares of common stock were issued on 1/4/2016 to the reporting person pursuant to the KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan and 50% will vest on March 9, 2016 and the remaining 50% will vest on June 8, 2016.
- F2The phantom stock will convert into shares of KAR common stock on a one-for-one basis.
- F3The 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.
- F4Represents 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.
- F5Reflects 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.
- F6Reflects dividend payment of which 45.6369 shares are vested and the remaining shares will vest as follows: 5 shares vest on 3/2/2016, and the remaining 4 shares vest on 6/2/2016.
- F7Reflects dividend payment of which 48.1004 shares are vested and the remaining shares will vest as follows: 4.9832 shares vest on 3/2/2016, and the remaining 4.9757 shares vest on 6/2/2016.
- F8Reflects dividend payment of which 50.5973 shares are vested and the remaining shares will vest as follows: 5.2397 shares vest on 3/2/2016, and the remaining 5.2397 shares vest on 6/2/2016.