SEC Form 4 · accession 0001395942-18-000068
OPENLANE, Inc. · OPLN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Stephen E. Smith
Director
Period of report
Apr 4, 2018
Accepted (ET)
Apr 6, 2018 · 3:54 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 | holding | — | — | — | 5,549 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom StockF5,F2,F3 | — | Apr 4, 2018 | A | 53 | A | — | — | Common Stock | 53 | 856 | D |
| Phantom StockF2,F3,F4 | — | holding | — | — | — | — | — | Common Stock | 7,464 | 7,464 | D |
Explanation of responses
- F12,594 of these shares were issued on June 5, 2017 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 2,594 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 subject to the terms and conditions of the KAR Auction Services, Inc. Directors 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. All shares are vested.