secwatch.observer — SEC 8-K summary
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Issuer:     OPENLANE, Inc. (OPLN)
CIK:        0001395942
Form:       8-K
Filed at:   2023-04-17T23:59:59+00:00
Accession:  0001395942-23-000039
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

KAR Global appoints Brad Lakhia as EVP & CFO, effective April 17, 2023
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- Brad Lakhia appointed EVP and CFO effective Apr 17, 2023; reports to CEO Peter Kelly.
- Succeeds Scott Anderson, who returns to Chief Accounting Officer role (interim CFO since Jan 1).
- Lakhia previously VP Finance, Americas at Goodyear (unit with >$10B revenue); 25+ years experience.
- Receives $500K cash sign-on (repayable if leaves within 2 years) and $400K RSU award vesting over 2 years.
- Severance: 1.5x salary+bonus for without cause/good reason; 2x if within 2 years of change of control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1395942/000139594223000039/0001395942-23-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1395942/000139594223000039/kar-20230417.htm
  HTML page:      https://secwatch.observer/filing/0001395942-23-000039

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer