0001395942-23-000050.txt : 20230509 0001395942-23-000050.hdr.sgml : 20230509 20230509094017 ACCESSION NUMBER: 0001395942-23-000050 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230505 FILED AS OF DATE: 20230509 DATE AS OF CHANGE: 20230509 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Lakhia Brad S. CENTRAL INDEX KEY: 0001615728 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-34568 FILM NUMBER: 23900459 MAIL ADDRESS: STREET 1: 19100 RIDGEWOOD PARKWAY CITY: SAN ANTONIO STATE: TX ZIP: 78259 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: KAR Auction Services, Inc. CENTRAL INDEX KEY: 0001395942 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500] IRS NUMBER: 208744739 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 11299 N. ILLINOIS STREET CITY: CARMEL STATE: IN ZIP: 46032 BUSINESS PHONE: (800) 923-3725 MAIL ADDRESS: STREET 1: 11299 N. ILLINOIS STREET CITY: CARMEL STATE: IN ZIP: 46032 FORMER COMPANY: FORMER CONFORMED NAME: KAR Holdings, Inc. DATE OF NAME CHANGE: 20070409 4 1 wf-form4_168363960085289.xml FORM 4 X0407 4 2023-05-05 0 0001395942 KAR Auction Services, Inc. KAR 0001615728 Lakhia Brad S. C/O: KAR AUCTION SERVICES, INC. 11299 NORTH ILLINOIS STREET CARMEL IN 46032 0 1 0 0 EVP & CFO 0 Employee Stock Option (right to buy) 14.83 2023-05-05 4 A 0 53222 0 A 2033-05-05 Common Stock 53222.0 53222 D Employee Stock Option (right to buy) 14.83 2023-05-05 4 A 0 212886 0 A 2033-05-05 Common Stock 212886.0 212886 D Restricted Stock Units 2023-05-05 4 A 0 26973 0 A Common Stock 26973.0 26973 D These options were granted on May 5, 2023 and will vest and become exercisable in equal installments on each of the first four anniversaries of the grant date, subject to continued employment through such vesting date. These options were granted on May 5, 2023 and will become eligible to vest and become exercisable in equal 25% increments, each upon the later of the occurrence of the first four anniversaries of the grant date, respectively, and the attainment of the closing price of the Company's common stock at or above, for each respective 25% increment, $19.83, $24.83, $29.83, and $34.83, for twenty consecutive trading days, subject to continued employment through such vesting date. Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis. These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock as follows: one-half of these restricted stock units vest on May 5, 2024 and the remaining one-half of these restricted stock units vest on May 5, 2025, assuming continued employment through the applicable vesting date. Charles S. Coleman, Attorney-in-Fact 2023-05-09