Galvin Carmel 4

What Happened
Galvin Carmel, a director of OPENLANE, Inc. (OPLN), received an award of 6,031 shares on June 5, 2026 as director fees under the OPENLANE, Inc. Second Amended and Restated 2009 Omnibus Stock and Incentive Plan. The shares were valued at $36.48 each for a total grant value of $220,011. These awarded shares are unvested and subject to forfeiture until they vest on June 5, 2027.

Key Details

• Transaction type: Award/Grant (Form 4 code A) issued as director fees
• Transaction date: June 5, 2026; Form 4 filed June 8, 2026 (three days later)
• Price/value: 6,031 shares × $36.48 = $220,011
• Vesting: The 6,031 shares vest on June 5, 2027 and are subject to forfeiture until vested
• Other holdings: Footnote notes that all other shares held by the reporting person are vested
• Shares owned after transaction: Not specified in the provided filing excerpt

Context
This was a compensation award to a non-employee director, not an open-market purchase or sale. Such grants are common as part of director pay and do not necessarily signal the director buying or selling based on company outlook. The one-year vesting period means the director must remain in position (and avoid forfeiture events) for the award to convert to fully owned shares.