Peter J. Kelly
Also at Openlane Inc
About
Peter J. Kelly, who is 56 years old , has built a distinguished career in the automotive auction industry. Beginning with co-founding OPENLANE in 1999 and serving in various executive roles, he established a strong foundation in digital innovation and leadership.
After OPENLANE became part of KAR Auction Services, he transitioned into roles that included Chief Technology Officer, President of Digital Services, and President, each contributing to the company's digital transformation.
In April 2021, he was appointed Chief Executive Officer, a move that marked significant strategic shifts in the organization and propelled the company's evolution into a digital marketplace leader.
Educated with an Engineering degree from University College Dublin and an MBA from Stanford University, he combines technical expertise with business acumen, which has been instrumental in driving innovation and strategic growth at KAR Auction Services.
$KAR Performance Under Peter J. Kelly
Past Roles
Fixed Compensation
Performance Compensation
Annual Incentive Program
Payout Details:
- Target Annual Incentive Award: $966,250
- Actual Payout: $1,131,220 (117.1% of target)
- Performance Achievements: 96.3% achievement for Adjusted EBITDA and 200% achievement for Cost Reduction
- Payout Conditions: Awards range from 50% payout at threshold to 200% payout at maximum; no payout below threshold
Long-Term Incentive Program
Evaluation Period:
- Annual Incentive Program: Assessed annually for 2023 performance.
- Long-Term Incentive Program: Based on a three-year performance period from January 1, 2023, to December 31, 2025.
These tables summarize the performance compensation components, performance metrics, targets, thresholds, maximum payouts, weights, vesting schedules, evaluation periods, and actual results leading to the payouts with exact dollar amounts and share quantities where available.