SEC Form 4 · accession 0001395942-16-000247
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
Feb 9, 2016
Accepted (ET)
Feb 11, 2016 · 6:32 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 UnitsF4,F5 | — | Feb 9, 2016 | A | 2,859 | A | — | — | Common Stock | 2,859 | 2,859 | D |
| Employee Stock Option (right to buy)F1,F2 | $10.00 | holding | — | — | — | — | Jul 29, 2019 | Common Stock | 24,166 | 24,166 | D |
| Employee Stock Option (right to buy)F1,F3 | $16.07 | holding | — | — | — | — | Feb 28, 2022 | Common Stock | 32,000 | 32,000 | D |
Explanation of responses
- F1An 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.
- F224,166 of these performance options are currently exercisable.
- F324,000 of these service options are currently exercisable and 8,000 of these options become exercisable on 2/28/2016.
- F4Converts into common stock on a 1-for-1 basis.
- F5The 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.