Form 4: Openlane CEO Peter Kelly Reports Stock Transactions
SEC Form 4 Filing
Openlane CEO Peter Kelly reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On May 9, 2024, Peter J Kelly, CEO of Openlane, Inc., reported transactions involving common stock and restricted stock units.
- 49,025 restricted stock units vested and were converted into common stock.
- The company withheld 21,115 shares to satisfy tax withholding requirements at a price of $17.71 per share.
- Following these transactions, Kelly directly owns 375,265.263 shares of common stock and 50,000 restricted stock units.
- These remaining restricted stock units are subject to time-based vesting, with one-third vesting on May 9, 2023, one-third on May 9, 2024, and the final third on May 9, 2025, contingent upon continued employment.
Sentiment
Score: 5
Explanation: This is a routine filing reflecting standard executive compensation practices; neither particularly positive nor negative.
Future Outlook
The remaining restricted stock units are scheduled to vest on May 9, 2025, assuming continued employment.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the holdings and transactions of company executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation and tax withholding.
Key Dates
| Date | Description |
|---|---|
| 05/09/2023 | One-third of the restricted stock units vested. |
| 05/09/2024 | Date of transaction: vesting of restricted stock units and tax withholding. |
| 05/09/2024 | One-third of the restricted stock units vested. |
| 05/09/2025 | Remaining one-third of the restricted stock units scheduled to vest. |
| 05/13/2024 | Date of signature for the Form 4 filing. |
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