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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Phantom Stock | (6) | (7)(8) | (8) | Common Stock | 8,743 | 8,743 | D | ||||||||
Phantom Stock | (6) | 08/31/2016 | A | 0 | (8) | (8) | Common Stock | 0 | $ 41.49 | 348.1202 (9) (10) | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Hill Mark E 13085 HAMILTON CROSSING BLVD. CARMEL, IN 46032 |
X |
Rebecca C. Polak as Attorney In Fact | 08/31/2016 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | On May 21, 2015, the reporting person caused the trust to purchase 300 shares of KAR common stock for $37.795 and 500 shares of KAR common stock for $37.799. |
(2) | The reporting person is trustee of the R. Helen Just Revocable Living Trust Dated October 27, 1997. Members of the reporting person's immediate family are beneficiaries of the trust. The reporting person disclaims beneficial ownership of the securities held by the trust except to the extent of his pecuniary interest therein. |
(3) | On August 29, 2016, the reporting person caused the trust to transfer the 800 shares of KAR common stock to a brokerage account for the benefit of a member of the reporting person's immediate family for no value pursuant to the distribution of trust assets, over which the reporting person holds a power of attorney. |
(4) | On August 29, 2016, the reporting person caused the R. Helen Just Revocable Living Trust Dated October 27, 1997, of which the reporting person is trustee, to transfer 800 shares of KAR common stock to a brokerage account (over which the reporting person holds a power of attorney) for the benefit of a member of the reporting person's immediate family for no value pursuant to the distribution of trust assets. |
(5) | The reporting person disclaims beneficial ownership of the securities held by the trust except to the extent of his pecuniary interest therein. |
(6) | The phantom stock will convert into shares of KAR common stock on a one-for-one basis. |
(7) | Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan. Shares of restricted stock were granted on 6/8/2016 at a price of $41.30 per share and will be settled only for shares of KAR common stock on a one-for-one basis. These shares of restricted stock were granted pursuant to the KAR Auction Services, Inc. 2009 Omnibus Stock and Incentive Plan and one-fourth of the grant vests every three months from the date of the grant and such grant is subject to forfeiture until vested. |
(8) | The reporting person will receive shares of KAR common stock, on a one-for-one basis, at a future date(s) specified by him pursuant to the deferred compensation plan. |
(9) | Reflects the reinvestment of dividend equivalents in additional shares of phantom stock pursuant to the terms of the KAR Auction Services, Inc. Directors Deferred Compensation Plan. |
(10) | Reflects dividend payment of which 43.6365 shares are vested and the remaining shares will vest as follows: 4.8665 shares vest on 9/7/2016, 4.8665 shares vest on 12/7/2016, 4.8665 shares vest on 3/7/2017 and the remaining 4.8666 shares vest on 6/7/2017. |