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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    EXHIBIT 10.21