secwatch.observer — SEC 8-K summary
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Issuer:     OPENLANE, Inc. (OPLN)
CIK:        0001395942
Form:       8-K
Filed at:   2025-04-22T23:59:59+00:00
Accession:  0001395942-25-000022
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPENLANE appoints Brad Herring as CFO, effective May 27, 2025
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- Brad Herring appointed EVP and CFO, effective May 27, 2025; reports to CEO Peter Kelly.
- Herring previously served as CFO of Enfusion and Shift4 Payments; 30+ years financial experience.
- Received $100,000 cash sign-on subject to repayment if voluntary termination within 2 years.
- Severance: 1.5x base salary plus target bonus (non-change-of-control); 2x (change-of-control).
- OPENLANE (NYSE: KAR) operates digital marketplaces for wholesale used vehicles.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1395942/000139594225000022/0001395942-25-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1395942/000139594225000022/kar-20250422.htm
  HTML page:      https://secwatch.observer/filing/0001395942-25-000022

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