Form 4: Former Lithia Motors Director, Kenneth Roberts, Reports Final Securities Transactions Following Retirement
SEC Filing
Kenneth Roberts, a former director of Lithia Motors Inc., filed a Form 4 detailing his final transactions in the company's equity securities following his retirement on April 23, 2024.
Summary
- Kenneth Roberts, a former director of Lithia Motors Inc. (LAD), filed a Form 4 with the SEC.
- The filing reports changes in his beneficial ownership of Lithia Motors Inc. common stock.
- The reported transactions occurred on April 23, 2024.
- Roberts retired as a director of Lithia Motors, Inc. effective April 23, 2024.
- As a result of his retirement, Roberts is no longer subject to Section 16 reporting requirements and will cease filing Form 4 or Form 5 for Lithia Motors transactions.
- Roberts directly disposed of 33,100 shares of Lithia Motors Inc. Common Stock.
- Roberts indirectly owns 10,000 shares through the Carol Roberts Trust and 51,794 shares through the Kenneth Roberts Trust.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to a director's retirement and stock transactions. It is neutral in sentiment.
Future Outlook
The reporting person will no longer be required to report transactions in Lithia Motors, Inc. securities.
Management Comments
- The reporting person retired as a director of Lithia Motors, Inc. effective April 23, 2024.
- As a result, the reporting person is no longer subject to Section 16 in connection with his transactions in the equity securities of Lithia Motors, Inc. and therefore will no longer report any such transactions on Form 4 or Form 5.
Industry Context
This filing is a routine disclosure related to an insider's departure from a company's board of directors. It provides transparency regarding the director's final transactions in the company's stock.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Kenneth E Roberts | N/A | 04/23/2024 | Retirement |
Stakeholder Impact
- Shareholders are informed about the director's departure and final stock transactions.
- The company ensures compliance with SEC regulations regarding insider trading and reporting.
Key Dates
| Date | Description |
|---|---|
| 04/23/2024 | Date of Earliest Transaction and Director Retirement |
| 05/09/2024 | Date of Form 4 Filing |
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