Altschuler Randolph 4

What Happened Randolph Altschuler, a director of OPENLANE, was granted a derivative award of 6,031 phantom shares on June 5, 2026. The award is recorded at $36.48 per share for a total reported value of $220,011. This was an award/vesting-type transaction (code A) — not an open‑market purchase or sale.

Key Details

• Transaction date: June 5, 2026; Form 4 filed June 8, 2026.
• Grant: 6,031 phantom shares at $36.48 each; total value reported $220,011 (derivative award).
• Shares owned after transaction: not reported on the Form 4.
• Footnotes/plan details:
  • The phantom stock converts into common stock on a one‑for‑one basis (F1).
  • The award represents director fees deferred under the KAR Auction Services, Inc. Directors Deferred Compensation Plan and vests June 5, 2027; shares are subject to forfeiture until vested (F2).
  • The reporting person will receive actual common stock at future date(s) he specifies, subject to the plan terms (F3).
• Filing timeliness: Form was filed June 8, 2026; the filing does not indicate a late‑filing code on the face of the reported transaction.

Context This is a compensation‑related derivative award (phantom stock) tied to deferred director fees rather than a market purchase or sale. Phantom shares convert to actual common shares one‑for‑one at a future date (and are subject to vesting and forfeiture rules), so this is not an immediate cash or market exposure event for the director.