OPENLANE Inc. filed SEC Form 8-K: Leadership Update
$OPLN
Retail-Auto Dealers and Gas Stations
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 9, 2026
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 9, 2026, the Board of Directors (the “Board”) of OPENLANE, Inc. (the “Company”) increased the size of the Board to ten (10) directors and elected David Hult as a director of the Company, effective June 12, 2026. Mr. Hult will serve for a term expiring at the 2027 annual meeting of the Company’s stockholders and until his successor is duly elected and qualified.
Mr. Hult, age 60, has served as Executive Chairman of Asbury Automotive Group, Inc. (“Asbury”), an automotive retailer (NYSE: ABG), since May 2026, and as a member of the Board of Directors of Asbury since January 2018. Mr. Hult previously served as President and Chief Executive Officer of Asbury from January 2018 to May 2026 and Executive Vice President and Chief Operating Officer of Asbury from November 2014 to January 2018. Prior to Asbury, Mr. Hult served as Chief Operating Officer of RJL-McLarty-Landers Automotive Holdings, LLC from January 2013 to November 2014, and held several roles with Group One Automotive, Inc. from 2004 to 2012, including Vice President of Fixed Operations and Marketing, Regional Vice President – East Region, and Market Director for New England. After serving in the U.S. Army, Mr. Hult started his career as a retail sales associate within the automotive industry. Mr. Hult attended the Advanced Management Program at the Harvard Business School.
In connection with his appointment to the Board, Mr. Hult will be entitled to receive cash and equity compensation as described in the Company’s definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on April 24, 2026. There are no arrangements or understandings between Mr. Hult and any other person pursuant to which he was selected as a director. There are no transactions involving Mr. Hult that would be required to be reported under Item 404(a) of Regulation S-K.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| Dated: June 12, 2026 | OPENLANE, Inc. | ||||
| /s/ Charles S. Coleman | |||||
| Charles S. Coleman Executive Vice President, Chief Legal Officer and Secretary | |||||