Tobin P. Richer, EVP Marketing and Communications at OPENLANE, Inc., filed a Form 4 on November 12, 2026, reporting transactions dated November 10, 2026, involving the exercise of employee stock options and the same-day sale of 3,458 shares of common stock.

Key Highlights

  • Option exercise: Richer exercised 3,458 employee stock options with an exercise price of $13.81 per share on November 10, 2026, acquiring 3,458 shares of common stock (transaction code M).
  • Same-day sale: Richer disposed of 3,458 shares on November 10, 2026, at a weighted average price of $35.44 per share, with individual sale prices ranging from $35.43 to $35.45 per share.
  • Post-transaction holdings: Following the reported transactions, Richer directly held 24,697 shares of common stock and 3,459 employee stock options.
  • Option grant details: According to the filing, the exercised options were granted on March 4, 2021, with vesting tied to both anniversary dates and stock price thresholds, and an expiration date of March 4, 2031.
  • Filing capacity: Richer is identified as an officer of OPENLANE, Inc. (NYSE:OPLN) with the title EVP Marketing and Communications.

Richer's November 2026 Option Exercise and Share Disposal at OPENLANE

According to the Form 4 filing, Tobin P. Richer exercised 3,458 employee stock options on November 10, 2026, at a conversion price of $13.81 per share. The options had been granted on March 4, 2021, and, per the filing, "became eligible to vest and became 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." The options carry an expiration date of March 4, 2031.

On the same date, the filing discloses that Richer sold all 3,458 shares acquired through the exercise. The reported weighted average sale price was $35.44 per share. The filing notes that the shares were sold across multiple transactions at prices ranging from $35.43 to $35.45 per share, and that full information on shares sold at each separate price is available upon request to the issuer, any security holder, or SEC staff.

After both transactions, Richer directly held 24,697 shares of common stock and 3,459 remaining employee stock options, according to the filing. The form was signed by Kristen Trout as Attorney-in-Fact on November 12, 2026.

What Was Disclosed

The filing reports a same-day option exercise and share sale by OPENLANE's EVP Marketing and Communications on November 10, 2026, covering 3,458 shares, with the reporting person retaining 24,697 shares and 3,459 options after the transactions.