OPENLANE, Inc. Reports Annual Meeting Election Results

TL;DR

OPENLANE's board elections and auditor are set. All good.

AI Summary

OPENLANE, Inc. filed an 8-K on June 10, 2024, reporting the results of its annual meeting of stockholders held on June 7, 2024. The primary purpose of the meeting was the election of directors and the ratification of the appointment of its independent registered public accounting firm.

Why It Matters

This filing confirms the outcome of director elections and auditor ratification, providing clarity to investors on the company's governance and financial oversight.

Risk Assessment

Risk Level: low — The filing is routine and reports on standard corporate governance matters like director elections and auditor ratification.

Key Numbers

• 001-34568 — Commission File Number (Identifies the company's SEC filings)
• 20-8744739 — IRS Employer Identification No. (Company's tax identification number)

Key Players & Entities

• OPENLANE, Inc. (company) — Registrant
• June 7, 2024 (date) — Date of earliest event reported
• June 10, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation
• 11299 N. Illinois Street, Suite 500 (address) — Principal executive offices
• Carmel, Indiana 46032 (address) — Principal executive offices location

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share KAR New York Stock Exchange

Filing Documents

• kar-20240607.htm (8-K) — 43KB
• kar-20240607_g1.jpg (GRAPHIC) — 32KB
• 0001395942-24-000042.txt ( ) — 244KB
• kar-20240607.xsd (EX-101.SCH) — 2KB
• kar-20240607_lab.xml (EX-101.LAB) — 21KB
• kar-20240607_pre.xml (EX-101.PRE) — 12KB
• kar-20240607_htm.xml (XML) — 3KB

07 Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders. (a) The annual meeting of stockholders of OPENLANE, Inc. (the "Company") was held on June 7, 2024 ("Annual Meeting"). (b) At the Annual Meeting, the stockholders: elected the director nominee designated by Ignition Parent LP ("Apax Investor") to the Company's Board of Directors; elected the other seven director nominees to the Company's Board of Directors; approved, on an advisory basis, executive compensation; approved an amendment and restatement of the KAR Auction Services, Inc. Amended and Restated 2009 Omnibus Stock and Incentive Plan ("Omnibus Plan"); and ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year 2024. The following are the final voting results for each of the five proposals voted on at the Annual Meeting. 1. Election of Director (Nominee Designated by the Apax Investor):* NAME FOR AGAINST ABSTAIN BROKER NON VOTES Roy Mackenzie 35,797,296 0 0 0 * As described in the Company's proxy statement for the Annual Meeting, the holders of shares of Series A Convertible Preferred Stock, voting as a separate class, voted on the election of Mr. Mackenzie. 2. Election of Directors (Other Seven Nominees): NAME FOR AGAINST ABSTAIN BROKER NON VOTES Carmel Galvin 128,395,410 6,404,499 26,769 4,468,394 J. Mark Howell 133,924,558 880,258 21,862 4,468,394 Stefan Jacoby 119,134,994 15,663,836 27,848 4,468,394 Peter Kelly 133,935,301 871,329 20,048 4,468,394 Michael T. Kestner 133,140,554 1,658,632 27,492 4,468,394 Sanjeev Mehra 134,141,334 651,602 33,742 4,468,394 Mary Ellen Smith 130,844,492 3,961,183 21,003 4,468,394 3. Advisory Vote on Executive Compensation: FOR AGAINST ABSTAIN BROKER NON VOTES 130,471,731 4,107,728 247,219 4,468,394 4. Amendment and Restatement of the Omnibus Plan: FOR AGAINST ABSTAIN BROKER NON VOTES 130,024,200 4,784,703 17,775 4,468,394 5. Ratification of Appointment of KPMG LLP:

View Full Filing

View this 8-K filing on SEC EDGAR