Richer Tobin P 4
4 · OPENLANE, Inc. · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
OPENLANE (KAR) EVP Tobin Richer Exercises Options and Sells Shares
What Happened
- Tobin Richer, EVP Marketing & Communications of OPENLANE (KAR), exercised a total of 66,709 stock options on May 6, 2026 (strikes of $13.81 and $18.23) — paying about $1,093,812 in exercise costs — and sold the resulting 66,709 shares in open-market transactions for total proceeds of approximately $2,386,321. The filing shows matching dispositions of the derivative awards tied to the exercises.
Key Details
- Transaction date: May 6, 2026; Form 4 filed May 8, 2026 (appears timely).
- Options exercised: 66,709 shares (multiple tranches at $13.81 and $18.23 strikes); aggregate exercise cash cost ≈ $1,093,812.
- Shares sold (open market): 66,709 shares; total gross proceeds ≈ $2,386,321 (weighted-average sale prices reported; see footnotes for price ranges).
- Reported sale price ranges (per footnotes): roughly $34.93–$36.14 across different lots (weighted averages used).
- Shares owned after the transactions: not specified in the excerpt of the filing.
- Footnotes: options were granted in 2021 with time- and price-based vesting conditions (see F5–F8). F1–F4 note weighted-average sale prices and provide ranges for individual trades.
Context
- This was an exercise of vested options followed by immediate sales of the shares (i.e., a cashless or sell-to-cover style outcome where exercised shares were sold in the market). That pattern converts option value to cash and is common for option holders; it does not by itself indicate a change in the insider’s long-term view.
Insider Transaction Report
Form 4
Richer Tobin P
EVP Marketing & Communications
Transactions
- Exercise/Conversion
Common Stock
2026-05-06$13.81/sh+6,917$95,524→ 35,614 total - Sale
Common Stock
[F1]2026-05-06$35.57/sh−3,784$134,597→ 31,830 total - Sale
Common Stock
[F2]2026-05-06$36.01/sh−3,133$112,819→ 28,697 total - Exercise/Conversion
Common Stock
2026-05-06$18.23/sh+13,014$237,245→ 41,711 total - Sale
Common Stock
[F1]2026-05-06$35.57/sh−7,209$256,424→ 34,502 total - Sale
Common Stock
[F3]2026-05-06$36.01/sh−5,805$209,038→ 28,697 total - Exercise/Conversion
Common Stock
2026-05-06$13.81/sh+20,751$286,571→ 49,448 total - Sale
Common Stock
[F1]2026-05-06$35.57/sh−10,878$386,930→ 38,570 total - Sale
Common Stock
[F4]2026-05-06$36.02/sh−9,873$355,625→ 28,697 total - Exercise/Conversion
Common Stock
2026-05-06$18.23/sh+26,027$474,472→ 54,724 total - Sale
Common Stock
[F1]2026-05-06$35.57/sh−14,419$512,884→ 40,305 total - Sale
Common Stock
[F2]2026-05-06$36.01/sh−11,608$418,004→ 28,697 total - Exercise/Conversion
Employee Stock Option (right to buy)
[F5]2026-05-06$13.81/sh−6,917$95,524→ 0 totalExercise: $13.81Exp: 2031-03-04→ Common Stock (6,917 underlying) - Exercise/Conversion
Employee Stock Option (right to buy)
[F6]2026-05-06$18.23/sh−13,014$237,245→ 0 totalExercise: $18.23Exp: 2031-06-04→ Common Stock (13,014 underlying) - Exercise/Conversion
Employee Stock Option (right to buy)
[F7]2026-05-06$13.81/sh−20,751$286,571→ 6,917 totalExercise: $13.81Exp: 2031-03-04→ Common Stock (20,751 underlying) - Exercise/Conversion
Employee Stock Option (right to buy)
[F8]2026-05-06$18.23/sh−26,027$474,472→ 26,028 totalExercise: $18.23Exp: 2031-06-04→ Common Stock (26,027 underlying)
Footnotes (8)
- [F1]The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.930 to $35.925 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F2]The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.930 to $36.080 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F3]The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.930 to $36.100 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F4]The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $35.930 to $36.135 per share, inclusive. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- [F5]These options were granted on March 4, 2021 and vested and became exercisable in equal installments on each of the first four anniversaries of the grant date, and were subject to continued employment through such vesting date.
- [F6]These options were granted on June 4, 2021 and vested and became exercisable in equal installments on each of the first four anniversaries of the grant date, and were subject to continued employment through such vesting date.
- [F7]These options were granted on March 4, 2021 and become eligible to vest and become exercisable in equal 25% increments, each upon the later of the occurrence of the first four anniversaries of the grant date, respectively, and the attainment of the closing price of the Company's common stock at or above, for each respective 25% increment, $18.81, $23.81, $28.81, and $33.81, for twenty consecutive trading days, subject to continued employment through such vesting date.
- [F8]These options were granted on June 4, 2021 and will become eligible to vest and become exercisable in equal 25% increments, each upon the later of the occurrence of the first four anniversaries of the grant date, respectively, and the attainment of the closing price of the Company's common stock at or above, for each respective 25% increment, $23.23, $28.23, $33.23, and $38.23, for twenty consecutive trading days, subject to continued employment through such vesting date.
Signature
Kristen Trout, as Attorney-In-Fact|2026-05-08