Director at OPENLANE (NASDAQ: OPLN) awarded 6,031 phantom stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Altschuler Randolph reported acquisition or exercise transactions in this Form 4 filing.
OPENLANE, Inc. director Randolph Altschuler reported a compensation-related award of phantom stock, not an open-market trade. He was granted 6,031 phantom stock units, each tied to the value of one share of common stock at a reference price of $36.48 per unit.
The phantom stock represents deferred director fees under the KAR Auction Services, Inc. Directors Deferred Compensation Plan. These units vest on June 5, 2027 and are subject to forfeiture until vesting. After this grant, Altschuler’s deferred balance totals 22,953 phantom stock units, all convertible into common stock on a one-for-one basis at future dates he previously specified.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Altschuler Randolph
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock | 6,031 | $36.48 | $220K |
Holdings After Transaction:
Phantom Stock — 22,953 shares (Direct, null)
Footnotes (1)
- The phantom stock will convert into shares of common stock on a one-for-one basis. Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan. The shares of phantom stock vest on June 5, 2027, and are subject to forfeiture until vested. The reporting person will receive shares of common stock, on a one-for-one basis, at a future date(s) specified by him subject to the terms and conditions of the KAR Auction Services, Inc. Directors Deferred Compensation Plan.
Key Figures
Phantom stock grant: 6,031 units
Reference price per unit: $36.48 per unit
Total phantom units after grant: 22,953 units
+2 more
5 metrics
Phantom stock grant
6,031 units
Grant of phantom stock units on June 5, 2026
Reference price per unit
$36.48 per unit
Price reference for phantom stock grant
Total phantom units after grant
22,953 units
Director’s phantom stock balance following transaction
Vesting date
June 5, 2027
Newly granted phantom stock units vesting date
Conversion ratio
1-for-1
Each phantom unit converts into one common share
Key Terms
Phantom Stock, Directors Deferred Compensation Plan, vest, forfeiture, +1 more
5 terms
Phantom Stock financial
"The phantom stock will convert into shares of common stock on a one-for-one basis."
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Directors Deferred Compensation Plan financial
"Represents director fees deferred in the reporting person's account in the KAR Auction Services, Inc. Directors Deferred Compensation Plan."
A directors deferred compensation plan lets a board member postpone receiving part or all of their cash fees or stock-based pay until a future date, often retirement, allowing taxes to be delayed and payouts to be structured over time. Investors care because these plans change a company’s future cash obligations and reveal how the board’s pay is aligned with long-term performance—like choosing to take a paycheck later to tie personal reward to the company’s future results.
vest financial
"The shares of phantom stock vest on June 5, 2027, and are subject to forfeiture until vested."
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
forfeiture financial
"The shares of phantom stock vest on June 5, 2027, and are subject to forfeiture until vested."
one-for-one basis financial
"The phantom stock will convert into shares of common stock on a one-for-one basis."
FAQ
What insider transaction did OPENLANE (OPLN) director Randolph Altschuler report?
Randolph Altschuler reported receiving 6,031 phantom stock units as a grant. These units are compensation for director service, linked to common stock value, and not an open-market share purchase or sale, so they primarily reflect deferred pay rather than a trading decision.
How many phantom stock units does the OPENLANE (OPLN) director hold after this Form 4?
Following this grant, the director holds 22,953 phantom stock units in total. Each unit is designed to convert into one share of common stock at future dates under the Directors Deferred Compensation Plan, representing accumulated deferred board fees over time.
When do the newly granted OPENLANE (OPLN) phantom stock units vest?
The 6,031 newly granted phantom stock units vest on June 5, 2027. Until that date they are subject to forfeiture, meaning the director must satisfy the plan’s service and other conditions before they convert into a non-forfeitable right to common shares.
What does 1-for-1 conversion of phantom stock mean for OPENLANE (OPLN) investors?
A 1-for-1 conversion means each phantom unit corresponds to one share of common stock. When the director elects distribution under the plan, the 22,953 phantom units can be settled in an equal number of common shares, aligning deferred compensation with shareholder value.
Is this OPENLANE (OPLN) Form 4 a buy or sell signal from the director?
This Form 4 reflects a grant of phantom stock as deferred director fees, not a market trade. The transaction is coded as an acquisition of derivative securities for compensation, so it is better viewed as routine pay rather than a discretionary buy or sell decision.