SEC Form 4 · accession 0001395942-16-000288
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
Apr 13, 2016
Accepted (ET)
Apr 14, 2016 · 8:12 pm EDT
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 | Apr 13, 2016 | M | 7,500 | $10.00 | A | 7,500 | D | |
| Common Stock | Apr 13, 2016 | S | 7,500 | $39.00 | D | 0 | D | |
| Common Stock | holding | — | — | — | 593 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (right to buy)F2,F3 | $10.00 | Apr 13, 2016 | A | 7,500 | D | — | Jul 29, 2019 | Common Stock | 7,500 | 16,666 | D |
| Employee Stock Option (right to buy)F2,F4 | $16.07 | holding | — | — | — | — | Feb 28, 2022 | Common Stock | 32,000 | 32,000 | D |
| Restricted Stock UnitsF5,F6 | — | holding | — | — | — | — | — | Common Stock | 1,906 | 1,906 | D |
Explanation of responses
- F1This transaction was effected pursuant to a Rule 10b5-1 plan adopted by the reporting person on 11/16/2015.
- 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.
- F3These performance options are currently exercisable.
- F4These service options are currently exercisable.
- F5Each 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.
- F6These 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 vested on 2/20/2016, one-third of these restricted stock units will vest on 2/20/2017 and the remaining one-third of these restricted stock units will vest on 2/20/2018, assuming continued employment through the applicable vesting date.