{"schema_version":"secwatch.filing_event.v1","accession":"0001395942-22-000035","form_type":"8-K","ticker":"OPLN","cik":"0001395942","company_name":"OPENLANE, Inc.","filed_at":"2022-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:04:00.464541+00:00","generated_at":"2026-06-25T21:34:05.216253+00:00","sec_items":["2.01","5.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"KAR Global completes $2.2B sale of ADESA U.S. physical auction business to Carvana","bullets":["Total cash consideration of $2.2B; includes 56 ADESA U.S. vehicle logistics centers and exclusive use of ADESA.com in U.S.","Chief Commercial Officer John Hammer departs KAR, joins Carvana; receives $1.716M separation payment.","Pro forma gain on sale estimated at ~$586.4M; $926.2M Term Loan B-6 repaid with proceeds.","KAR retains digital platforms OPENLANE, BacklotCars, CARWAVE, TradeRev, plus ADESA Canada/UK/Europe and AFC.","CEO Peter Kelly says sale advances digital strategy and simplifies business model for accelerated growth."],"urls":{"canonical":"https://secwatch.observer/filing/0001395942-22-000035","json":"https://secwatch.observer/filing/0001395942-22-000035.json","markdown":"https://secwatch.observer/filing/0001395942-22-000035.md","text":"https://secwatch.observer/filing/0001395942-22-000035.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1395942/000139594222000035/0001395942-22-000035-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1395942/000139594222000035/kar-20220509.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-25T21:34:05.216253+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"3170170fe0","claim":"John Hammer departed as Chief Commercial Officer at OPENLANE, Inc..","evidence_excerpt":"Upon the completion of the Sale, John Hammer, Chief Commercial Officer for the Company and President of ADESA, Inc., departed the Company and commenced employment with Buyer.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1395942/000139594222000035/0001395942-22-000035-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"departed"},{"label":"Role","value":"Chief Commercial Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}