Statement of Changes in Beneficial Ownership (4)
05 March 2021 - 9:37AM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
*
Loughmiller Eric M. |
2. Issuer Name and Ticker or Trading Symbol
KAR Auction Services, Inc.
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KAR
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP & CFO |
(Last)
(First)
(Middle)
C/O: KAR AUCTION SERVICES, INC., 11299 NORTH ILLINOIS STREET |
3. Date of Earliest Transaction
(MM/DD/YYYY)
3/2/2021 |
(Street)
CARMEL, IN 46032
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security (Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code (Instr. 8)
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4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock | 3/2/2021 | | M | | 1367 | A | $0 (1) | 250266.722 (2) | D | |
Common Stock | 3/2/2021 | | F(3) | | 398 | D | $13.99 | 249868.722 | D | |
Common Stock | 3/2/2021 | | M | | 12794 | A | $0 (1) | 262662.722 | D | |
Common Stock | 3/2/2021 | | F(3) | | 681 | D | $13.99 | 261981.722 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Employee Stock Option (right to buy) | $11.74 | | | | | | | (4) | 2/27/2024 | Common Stock | 97204.0 | | 97204 | D | |
Restricted Stock Units | (5) | 3/2/2021 | | M | | | 1367 | (6) | (6) | Common Stock | 1367.0 | $0 | 0 | D | |
Restricted Stock Units | (5) | | | | | | | (7) | (7) | Common Stock | 2353.0 | | 2353 | D | |
Restricted Stock Units | (5) | 3/2/2021 | | M | | | 12794 | (8) | (8) | Common Stock | 12794.0 | $0 | 0 | D | |
Restricted Stock Units | (5) | | | | | | | (9) | (9) | Common Stock | 16038.485 | | 16038.485 | D | |
Restricted Stock Units | (5) | | | | | | | (10) | (10) | Common Stock | 10157.0 | | 10157 | D | |
Explanation of Responses: |
(1) | Each 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 March 2, 2021. |
(2) | Includes 4,159.139 shares acquired pursuant to the Company's Employee Stock Purchase Plan. |
(3) | Shares withheld by the Company to satisfy tax withholding requirements. |
(4) | All of these options are currently exercisable. |
(5) | Each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis. |
(6) | These restricted stock units were subject to a time-vesting requirement and vested and settled in common stock as follows: one-third of these restricted stock units vested on March 2, 2019, one-third of these restricted stock units vested on March 2, 2020 and the remaining one-third of these restricted stock units vested on March 2, 2021. |
(7) | These 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 February 22, 2020, one-third of these restricted stock units vested on February 22, 2021 and the remaining one-third of these restricted stock units vest on February 22, 2022, assuming continued employment through the applicable vesting date. |
(8) | These restricted stock units were subject to a time-vesting requirement and vested and settled in common stock on March 2, 2021. |
(9) | These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock on February 22, 2022, assuming continued employment through the applicable vesting date. |
(10) | These restricted stock units remain subject to a time-vesting requirement and are scheduled to vest and settle in common stock as follows: 4,979 of these restricted stock units vested on February 21, 2021, 5,007 of these restricted stock units vest on February 21, 2022 and the remaining 5,150 of these restricted stock units vest on February 21, 2023, assuming continued employment through the applicable vesting date. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Loughmiller Eric M. C/O: KAR AUCTION SERVICES, INC. 11299 NORTH ILLINOIS STREET CARMEL, IN 46032 |
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| EVP & CFO |
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Signatures
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Charles S. Coleman as Attorney-In-Fact | | 3/4/2021 |
**Signature of Reporting Person | Date |
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