Form Type: 4

SEC EDGAR Link
Accession Number:0001395942-23-000056
Date:2023-05-09
Issuer: KAR AUCTION SERVICES, INC. (KAR)
Original Submission Date:

Reporting Person:

SUBRAHMANYAM SRIRAM
C/O KAR AUCTION SERVICES, INC.
CARMEL, IN 46032

Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
Title of SecurityTransaction Date2a. Deemed Execution Date Transaction CodeSharesAcquired or DisposedPrice per share 5. Amount of Securities Beneficially Owned Following Reported Transaction 6. Ownership Form Direct or IndirectNature of Indirect Ownership
COMMON STOCK 2023-05-09 M 20,000 a $0.00 44,953 direct
COMMON STOCK 2023-05-09 F 5,700 d $15.09 39,253 direct
Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, convertible securities
Title of Derivative Security Conversion or Exercise Price of Derivative Security Transaction Date Deemed Execution Date Transaction Code Number of Derivative Securities Acquired (A) or Disposed of (D) Date ExercisableExpiration Date Title and Amount of Securities Underlying Derivative Security Price of Derivative Security Number of derivative Securities Beneficially Owned Following Reported Transaction(s) Ownership Form: Direct (D) or Indirect (I) Nature of Indirect Beneficial Ownership
RESTRICTED STOCK UNITS 0.0 2023-05-09 deemed execution date M 20,000 (d) common stock 20,000 $0.00 40,000 direct
Footnotes
IDfootnote
f1 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 may 9, 2023.
f2 includes shares acquired pursuant to the company's employee stock purchase plan.
f3 shares withheld by the company to satisfy tax withholding requirements.
f4 each restricted stock unit is convertible into a share of common stock on a 1-for-1 basis.
f5 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 may 9, 2023, one-third of these restricted stock units vest on may 9, 2024 and the remaining one-third of these restricted stock units vest on may 9, 2025, assuming continued employment through the applicable vesting date.
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