ADESA, Inc. Executive Restricted Stock Unit Award Agreement (2005)

Summary

ADESA, Inc. granted restricted stock units (RSUs) to its executive officers under the 2004 Equity and Incentive Plan, as approved by the Board of Directors on February 8, 2005. The RSUs, awarded based on 25% of the prior year's bonus and the market value of the company's stock, are subject to a three-year vesting period. This agreement outlines the recipients, grant amounts, and vesting schedule for the RSUs awarded to named executive officers.

EX-10.21 5 a2153626zex-10_21.htm EXHIBIT 10.21
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EXHIBIT 10.21

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

*: The number of RSUs granted was determined using the market value of the Company's common stock on the grant date (February 15, 2005).

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