KAR Auction Services, Inc. 4
4 · KAR Auction Services, Inc. · Filed Nov 15, 2013
Insider Transaction Report
Form 4
Clingen Brian T.
DirectorChairman of the Board
Transactions
- Sale
Common Stock
2013-11-13$27.14/sh−301,442$8,181,136→ 0 total(indirect: By LLC)
Holdings
- 61,895
Common Stock
Footnotes (2)
- [F1]Reflects sales of shares of common stock of KAR Auction Services, Inc. (the "Company") in a secondary offering by KAR Holdings II, LLC ("KAR LLC") that closed on November 13, 2013. Prior to the secondary offering, KAR LLC effected an in-kind distribution of shares of the Company's common stock to certain members and thereafter subsequent in-kind distributions of the Company's common stock were effected. As a result of such in-kind distributions, the amount of shares of common stock that the reporting person may be deemed to have beneficially owned by virtue of the reporting person's direct or indirect common ownership interest in KAR LLC was reduced. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person was the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- [F2]A portion of the proceeds were paid in respect of profit interests pursuant to KAR LLC's Second Amended and Restated Limited Liability Company Agreement, as amended, and Axle Holdings II, LLC's Amended and Restated Limited Liability Company Agreement, as amended.