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OPENLANE

Carmel, Indiana, United States · Automotive, Logistics, Manufacturing

OPENLANE, Inc. (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. OPENLANE's unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services. Our integrated marketplaces reduce risk, improve transparency and streamline transactions for customers around the g

Key facts

Headquarters
Carmel, Indiana, United States
Employees
320
Industries
Automotive, Logistics, Manufacturing
Status
Public (OPLN)
Website
corporate.openlane.com
LinkedIn
Company page

Recent activity at OPENLANE

  • : SEC 8-K (1.01): On September 25, 2026, OPENLANE, Inc.'s subsidiary, Automotive Finance Corporation (AFC), entered into a Second Amendment to the Tenth Amended and Restated Receivables Purchase Agreement with various financial institutions including Fairway Finance Company, LLC and JPMorgan Chase Bank. This Second Amendment extends the termination date of the financing facility from January 31, 2028 to January 31, 2030, providing AFC with additional capital flexibility. This agreement is strategic for optimizing AFC's financing options in the market.
  • : SEC 8-K (2.02): On August 4, 2026, OPENLANE, Inc. announced its financial results for the three and six months ended June 30, 2026, showcasing a detailed summary of their operational performance. This announcement was communicated through a press release and included plans for an earnings conference call scheduled for the same day at 8:30 a.m. Eastern Time. The results reflect the company's financial health, and supplemental financial information along with Earnings Slides were also made accessible to stakeholders. The specific reporting date aligns with the required reporting timeline, emphasizing the company's commitment to transparency with its investors.
  • : SEC 8-K (5.02): On June 9, 2026, OPENLANE, Inc. expanded its Board of Directors to include David Hult, increasing the board size to ten directors. Mr. Hult's election is effective June 12, 2026, and he will serve until the 2027 annual meeting of stockholders. Previously, Mr. Hult held significant leadership positions at Asbury Automotive Group, Inc., including Executive Chairman and CEO, demonstrating his extensive experience in the automotive sector which may bring valuable insights to OPENLANE's strategic direction. The addition of Mr. Hult to the board suggests an intention to leverage his industry expertise in future company decisions.
  • : SEC 8-K (5.02): On June 5, 2026, OPENLANE, Inc. held its Annual Meeting where significant corporate governance changes occurred. Stockholders elected Roy Mackenzie, the director nominee designated by Ignition Parent LP (Apax Investor), along with eight other director nominees to the Board of Directors. Additionally, the meeting involved an advisory vote approving executive compensation and the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year 2026. The election of directors and other approvals are critical for the company's strategic direction and governance.
  • : SEC 8-K (5.03): On May 29, 2026, OPENLANE, Inc. filed a Certificate of Elimination with the Delaware Secretary of State, which eliminated the Certificate of Designations for the Company's Series A Convertible Preferred Stock that was originally filed on June 9, 2020. This action effectively removes the provisions regarding the Series A Preferred Stock from the Company's Amended and Restated Certificate of Incorporation. The elimination of this series is part of the Company's ongoing efforts to streamline its capital structure and can impact its financial strategy moving forward. A copy of this Certificate is attached as Exhibit 3.1 to the filing.
  • : SEC 8-K (2.02): On May 5, 2026, OPENLANE, Inc. released its financial results for the quarter ending March 31, 2026. The report marks a key event for the company, detailing its operational performance and financial condition during the specified period. In conjunction with the release, OPENLANE announced an earnings conference call scheduled for the same day at 8:30 a.m. Eastern Time, allowing investors and analysts to gain insights directly from management. Supplemental financial information and Earnings Slides were also made available on their corporate website, indicating a comprehensive disclosure of their financial performance.
  • : SEC 8-K (5.02): On January 29, 2026, Sanjeev Mehra resigned from the Board of Directors of OPENLANE, Inc. This resignation was effective immediately and was not due to any disagreements regarding the company's operations or policies. The departure of Mr. Mehra is noteworthy as it may lead to changes in the board's composition and could influence the strategic direction the company takes moving forward.
  • : OPENLANE, Inc. launches OPENLANE Intelligence, a framework to unify AI and data capabilities to enhance decision-making for wholesale used vehicle dealers.
  • : OPENLANE, Inc. Increases Program Limit in Receivables Purchase Agreement
  • : SEC 8-K (1.01): On November 18, 2025, OPENLANE, Inc. and its subsidiary, Automotive Finance Canada Inc. (AFCI), entered into Amendment No. 3 to the Receivables Purchase Agreement originally dated March 1, 2023. This amendment involved key financial institutions including Computershare Trust Company of Canada, BMO Nesbitt Burns, Inc., and the Royal Bank of Canada. The amendment significantly increased the Program Limit under the Canadian Receivables Purchase Agreement from C$375 million to C$500 million, enhancing AFCI's capacity for financing operations. Detailed terms regarding the amendments are provided in the attached Exhibit 10.1 to the filing.

Leadership

  • Brad Herring, Chief Financial Officer
  • Itunu Orelaru, Head of Investor Relations
  • Will Mitchell, President

Verified email and direct lines for OPENLANE’s decision-makers are on Fundz. See plans — or book a 15-minute walkthrough.

Employee benefit plans

OPENLANE files 6 employee benefit plans with the U.S. Department of Labor, including a retirement plan. The next plan year renews in Dec 2026.

OPENLANE in the news

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About OPENLANE: questions and answers

What does OPENLANE do?

OPENLANE, Inc. (NYSE: KAR) provides sellers and buyers across the global wholesale used vehicle industry with innovative, technology-driven remarketing solutions. OPENLANE's unique end-to-end platform supports whole car, financing, logistics and other ancillary and related services. Our integrated marketplaces reduce risk, improve transparency and streamline transactions for customers around the g

Where is OPENLANE headquartered?

OPENLANE is headquartered in Carmel, Indiana, United States.

How many employees does OPENLANE have?

OPENLANE has about 320 employees.

Who leads OPENLANE?

Will Mitchell is a President at OPENLANE.

What is the latest news on OPENLANE?

On Sep 25, 2026, SEC 8-K (1.01): On September 25, 2026, OPENLANE, Inc.'s subsidiary, Automotive Finance Corporation (AFC), entered into a Second Amendment to the Tenth Amended and Restated Receivables Purchase Agreement with various financial institutions including Fairway Finance Company, LLC and JPMorgan Chase Ban

Is OPENLANE a public company?

Yes. OPENLANE is publicly traded under the ticker OPLN.

Source: Fundz records from SEC filings, press releases and company announcements. How Fundz measures data accuracy

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