OPENLANE EVP sells 66,709 shares after option exercise
OPENLANE, Inc. executive Tobin P. Richer reported option exercises and stock sales.
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Form Type
4
Rhea-AI Filing Summary
OPENLANE, Inc. executive Tobin P. Richer reported option exercises and stock sales. On May 6, 2026, he exercised options for a total of 66,709 shares of common stock at exercise prices of $13.81 and $18.23 per share, then sold 66,709 shares in open-market transactions.
The sales occurred at weighted average prices around $35.57–$36.02 per share, across multiple trades within the ranges detailed in the footnotes. After these transactions, Richer directly owned 28,697 shares of OPENLANE common stock.
Insider Trade Summary
Exercise and Sale: 66,709 shares ($1.29M approx. pre-tax spread)
Exercise and Sale
16 txns
Insider
Richer Tobin P
Role
EVP Marketing & Communications
Sold
66,709 shs ($2.39M)
Approx. gross sale proceeds
$2.39M
Approx. exercise cost
$1.09M
Approx. pre-tax spread
$1.29M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Employee Stock Option (right to buy) | 6,917 | $13.81 | $96K |
| Exercise | Employee Stock Option (right to buy) | 13,014 | $18.23 | $237K |
| Exercise | Employee Stock Option (right to buy) | 20,751 | $13.81 | $287K |
| Exercise | Employee Stock Option (right to buy) | 26,027 | $18.23 | $474K |
| Exercise | Common Stock | 6,917 | $13.81 | $96K |
| Sale | Common Stock | 3,784 | $35.57 | $135K |
| Sale | Common Stock | 3,133 | $36.01 | $113K |
| Exercise | Common Stock | 13,014 | $18.23 | $237K |
| Sale | Common Stock | 7,209 | $35.57 | $256K |
| Sale | Common Stock | 5,805 | $36.01 | $209K |
| Exercise | Common Stock | 20,751 | $13.81 | $287K |
| Sale | Common Stock | 10,878 | $35.57 | $387K |
| Sale | Common Stock | 9,873 | $36.02 | $356K |
| Exercise | Common Stock | 26,027 | $18.23 | $474K |
| Sale | Common Stock | 14,419 | $35.57 | $513K |
| Sale | Common Stock | 11,608 | $36.01 | $418K |
Holdings After Transaction:
Employee Stock Option (right to buy) — 32,945 contracts (Direct);
Common Stock — 28,697 shares (Direct)
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.
Key Figures
Shares sold: 66,709 shares
Shares exercised: 66,709 shares
Exercise prices: $13.81 and $18.23 per share
+3 more
6 metrics
Shares sold
66,709 shares
Total OPENLANE common stock sold on May 6, 2026
Shares exercised
66,709 shares
Total underlying shares from options exercised on May 6, 2026
Exercise prices
$13.81 and $18.23 per share
Strike prices for OPENLANE employee stock options
Weighted average sale prices
about $35.57–$36.02 per share
Open-market sales price ranges noted in footnotes
Shares owned after transactions
28,697 shares
Direct ownership of OPENLANE common stock after May 6, 2026
Options exercised (count)
4 option grants
Total derivative transactions coded M in this Form 4
Key Terms
open-market sale, Employee Stock Option (right to buy), weighted average price, derivative security
4 terms
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
Employee Stock Option (right to buy) financial
"security_title": "Employee Stock Option (right to buy)""
weighted average price financial
"The price reported in column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did OPENLANE (OPLN) EVP Tobin Richer report in this Form 4?
Executive Tobin P. Richer reported exercising stock options for 66,709 OPENLANE shares and selling 66,709 shares in open-market trades on May 6, 2026. The filing shows both the option exercise prices and the weighted average sale prices.
Did Tobin Richer retain any stock options after the reported OPENLANE transactions?
The Form 4 shows option exercises totaling 66,709 underlying shares and a derivative summary with no remaining derivative positions listed. This indicates the reported options tied to these transactions were fully exercised as of May 6, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
