SEC Form 4 · accession 0001395942-16-000254
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
David Vignes
Officer — EVP of Enterprise Optimization
Period of report
Feb 9, 2016
Accepted (ET)
Feb 11, 2016 · 6:34 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 Stock | holding | — | — | — | 5,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF6,F7 | — | Feb 9, 2016 | A | 1,742 | A | — | — | Common Stock | 1,742 | 1,742 | D |
| Employee Stock Option (right to buy)F1,F2 | $16.677 | holding | — | — | — | — | Aug 19, 2018 | Common Stock | 10,275 | 10,275 | D |
| Employee Stock Option (right to buy)F2,F3 | $10.00 | holding | — | — | — | — | Aug 20, 2017 | Common Stock | 19,785 | 19,785 | D |
| Employee Stock Option (right to buy)F2,F4 | $18.80 | holding | — | — | — | — | May 5, 2021 | Common Stock | 14,525 | 14,525 | D |
| Employee Stock Option (right to buy)F2,F5 | $13.46 | holding | — | — | — | — | Mar 1, 2020 | Common Stock | 67,170 | 67,170 | D |
Explanation of responses
- F110,275 of these options are currently exercisable.
- 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 set forth above are satisfied.
- F319,785 of these options are performance options that are currently exercisable.
- F414,525 of these options are service options that are currently exercisable.
- F567,170 of these options are performance options that are currently exercisable.
- F6Converts into common stock on a 1-for-1 basis.
- F7The 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.