SEC Form 4 · accession 0001395942-16-000244
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Thomas J. Caruso
Officer — Chief Client Officer
Period of report
Feb 9, 2016
Accepted (ET)
Feb 11, 2016 · 6:31 pm EST
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F3 | — | Feb 9, 2016 | A | 1,519 | A | — | — | Common Stock | 1,519 | 1,519 | D |
| Employee Stock Option (right to buy)F1 | $16.677 | holding | — | — | — | — | Aug 19, 2018 | Common Stock | 10,275 | 10,275 | D |
| Employee Stock Option (right to buy)F1 | $13.46 | holding | — | — | — | — | Mar 1, 2020 | Common Stock | 33,585 | 33,585 | D |
| Employee Stock Option (right to buy)F1 | $14.44 | holding | — | — | — | — | Feb 25, 2021 | Common Stock | 25,000 | 25,000 | D |
Explanation of responses
- F1All shares are currently exercisable.
- F2Converts into common stock on a 1-for-1 basis.
- F3The compensation committee certified on February 9, 2016 that the Company achieved the 2015 net income performance goal for the restricted stock unit awards granted in 2015 under the KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan. These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock as follows: one-third of these restricted stock units vest on 2/20/2016, one-third of these restricted stock units vest on 2/20/2017 and the remaining one-third of these restricted stock units vest on 2/20/2018.