Filing Details

Accession Number:
0001179110-13-013176
Form Type:
4
Zero Holdings:
No
Publication Time:
2013-08-15 16:09:01
Reporting Period:
2013-08-13
Filing Date:
2013-08-15
Accepted Time:
2013-08-15 16:09:01
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1395942 Kar Auction Services Inc. KAR Retail-Auto Dealers & Gasoline Stations (5500) 208744739
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1478001 C. Rebecca Polak 13085 Hamilton Crossing Blvd.
Carmel IN 46032
Evp, Gc & Secretary No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Disposition 2013-08-13 1,214 $24.25 2,947 No 4 S Indirect By KAR Holdings II, LLC
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 S Indirect By KAR Holdings II, LLC
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Employee Stock Option (right to buy) $10.00 2019-05-06 176,720 176,720 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2019-05-06 176,720 176,720 Direct
Footnotes
  1. Reflects sales of shares of common stock of KAR Auction Services, Inc. in a secondary offering by KAR Holdings II, LLC that closed on August 13, 2013.
  2. Includes 2,947 shares of common stock held of record by KAR Holdings II, LLC, by virtue of the reporting person's common ownership interest in KAR Holdings II, LLC. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
  3. 44,180 of these options are service options that became exercisable as of the effective date of the Company's initial public offering.
  4. 132,540 of these options are performance options that will vest as follows: 25% of these options vested on March 1, 2013; 25% of these options vest if the closing price of a share of the Company's common stock exceeds $25.00 for twenty (20) consecutive trading days; 25% of these options vest if the closing price of a share of the Company's common stock exceeds $30.00 for twenty (20) consecutive trading days; and 25% of these options vest if the closing price of a share of the Company's common stock exceeds $35.00 for twenty (20) consecutive trading days.
  5. An additional condition to vesting is that the reporting person must be a director, officer, employee, consultant or agent of the Company or any of its subsidiaries on the date on which the conditions set forth above are satisfied.