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