SEC Form 4 · accession 0001395942-16-000268
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Donald S. Gottwald
Officer — Chief Operating Officer
Period of report
Feb 20, 2016
Accepted (ET)
Feb 23, 2016 · 5:21 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 | Feb 20, 2016 | M | 1,638 | $0.00 | A | 1,638 | D | |
| Common Stock | Feb 20, 2016 | P | 599 | $33.90 | D | 1,039 | 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 UnitsF1,F4 | — | Feb 20, 2016 | M | 1,638 | D | — | — | Common Stock | 1,638 | 3,275 | D |
| Employee Stock Option (right to buy)F3 | $10.00 | holding | — | — | — | — | May 6, 2019 | Common Stock | 165,000 | 165,000 | D |
Explanation of responses
- F1Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis. The restricted stock units vested in common stock on 2/20/16.
- F2Shares withheld by the Company to satisfy minimum tax withholding requirements.
- F3All of these performance options are currently exercisable.
- F4These 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, assuming continued employment through the applicable vesting date.