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Filing Details

Accession Number:: 0001418812-10-000001
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-01-05 12:00:00
Reporting Period:: 2009-12-31

Filing Date:: 2010-01-05
Accepted Time:: 2010-01-05 18:01:38
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1395942	Kar Auction Services Inc.	KAR	Retail-Auto Dealers & Gasoline Stations (5500)	208744739

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1351069	Valueact Capital Management, L.p.	435 Pacific Avenue, 4Th Floor San Francisco CA 94133	No	No	Yes	No
1351073	Valueact Capital Management, Llc	435 Pacific Avenue, 4Th Floor San Francisco CA 94133	No	No	Yes	No
1418812	Va Partners I, Llc	435 Pacific Avenue, 4Th Floor San Francisco CA 94133	No	No	Yes	No
1418813	Valueact Holdings Gp, Llc	435 Pacific Avenue, 4Th Floor San Francisco CA 94133	No	No	Yes	No
1418814	Valueact Holdings, L.p.	435 Pacific Avenue, 4Th Floor San Francisco CA 94133	No	No	Yes	No
1464912	Valueact Capital Master Fund, L.p.	435 Pacific Avenue 4Th Floor San Francisco CA 94133	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, Par Value $.01 Per Share	Acquisiton	2009-12-31	100,000	$13.71	2,258,828	No	4	P	Indirect	See footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnotes

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock, Par Value $.01 Per Share	22,568,190	Indirect	See footnotes

Footnotes

The securities reported herein are directly beneficially owned by ValueAct Capital Master Fund, L.P. and may be deemed to be indirectly beneficially owned by (i) VA Partners I, LLC as General Partner of ValueAct Capital Master Fund, L.P., (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Capital Master Fund, L.P., (iii) ValueAct Capital Management, LLC as General Partner of ValueAct Capital Management, L.P., (iv) ValueAct Holdings, L.P. as the sole owner of the limited partnership interests of ValueAct Capital Management, L.P. and the membership interests of ValueAct Capital Management, LLC and as the majority owner of the membership interests of VA Partners I, LLC and (v) ValueAct Holdings GP, LLC as General Partner of ValueAct Holdings, L.P.
Each reporting person listed herein disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
The reported stock is held of record by KAR Holdings II, LLC but is beneficially owned directly by ValueAct Capital Master Fund, L.P. by virtue of ValueAct Capital Master Fund, L.P.'s ownership interest in KAR Holdings II, LLC and may be deemed to be beneficially owned by (i) VA Partners I, LLC as General Partner of ValueAct Capital Master Fund, L.P., (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Capital Master Fund, L.P., (iii) ValueAct Capital Management, LLC as General Partner of ValueAct Capital Management, L.P., (iv) ValueAct Holdings, L.P. as the sole owner of the limited partnership interests of ValueAct Capital Management, L.P. and the membership interests of ValueAct Capital Management, LLC, and as the majority owner of the membership interests of VA Partners I, LLC, and (v) ValueAct Holdings GP, LLC as General Partner of ValueAct Holdings, L.P.