SEC Form 4 · accession 0001395942-16-000311
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen E. Smith
Director
Period of report
Jun 8, 2016
Accepted (ET)
Jun 10, 2016 · 7:05 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 StockF1 | Jun 8, 2016 | A | 2,785 | $41.30 | A | 2,955 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF2,F3,F4 | — | holding | — | — | — | — | — | Common Stock | 7,464 | 7,464 | D |
| Phantom StockF5,F2,F3 | — | holding | — | — | — | — | — | Common Stock | 404 | 404 | D |
Explanation of responses
- F1These shares of common stock were issued on 6/8/2016 to the reporting person as director fees and were issued pursuant to the KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan and one-fourth of the shares vest every three months from the date issued and are subject to forfeiture until vested.
- F2The phantom stock will convert into shares of KAR common stock on a one-for-one basis.
- F3The reporting person will receive shares of KAR common stock, on a one-for-one basis, at a future date(s) specified by him pursuant to the deferred compensation plan.
- F4Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan.
- F5Reflects the reinvestment of dividend equivalents in additional shares of phantom stock pursuant to the terms of the KAR Auction Services, Inc. Directors Deferred Compensation Plan.