ADESA, Inc.
Executive Restricted Stock Unit Awards
On February 8, 2005, the Board of Directors of ADESA, Inc. ratified the Compensation Committee's award of restricted stock units (RSUs) under the Company's 2004 Equity and Incentive Plan to the following named executive officers in the amounts indicated below. Under the Plan, certain executive officers receive an annual RSU grant equal to 25% of the bonus earned in the prior year. The number of RSUs granted is determined based on the market value of the Company's common stock on the date the RSUs are granted. The RSUs are subject to a three-year cliff vesting schedule.
| Name | Title | Market Value of Grant | Number of RSUs* | ||||
|---|---|---|---|---|---|---|---|
| David G. Gartzke | Chairman, President and Chief Executive Officer | $ | 133,146 | 5,968 | |||
| James P. Hallett | Executive Vice President of ADESA, Inc. and President of ADESA Corporation, LLC | $ | 65,948 | 2,956 | |||
| Bradley A. Todd | Executive Vice President of ADESA, Inc. and President of Automotive Finance Corporation | $ | 36,945 | 1,656 | |||
| Cameron C. Hitchcock | Executive Vice President and Chief Financial Officer | $ | 52,562 | 2,356 | |||
| Brenda J. Flayton | Executive Vice President and Chief Administrative Officer | $ | 26,460 | 1,186 | |||
| Other Executive Officers | Various | $ | 104,568 | 4,687 | |||
| $ | 419,629 | 18,809 | |||||
