4/A: Lithia Motors CEO Bryan Deboer Amends Form 4 Filing to Correct Omitted Stock Sales

Lithia Motors CEO Bryan Deboer files an amended Form 4 to report additional stock sales inadvertently omitted from the original filing on November 13, 2024.

Summary

• Bryan B. Deboer, CEO of Lithia Motors Inc., filed an amended Form 4 with the SEC on February 11, 2025.
• The amendment corrects an error in the original Form 4 filed on November 13, 2024, which inadvertently omitted additional stock sales.
• On November 11, 2024, Deboer sold 2,022 shares of Lithia Motors Inc. common stock at a weighted average price of $383.1479.
• The sales occurred in a price range of $383.000 to $383.200.
• Following the reported transaction, Deboer beneficially owns 166,821 shares of Lithia Motors Inc. common stock directly.
• Shares previously reported as beneficially owned indirectly by the insider's son are no longer reported because the son no longer shares the reporting person's household.

Sentiment

Score: 5

Explanation: The sentiment is neutral. It's a correction of a previous filing, indicating a need for improved internal controls but not necessarily a negative outlook for the company.

Negatives

• The amended filing indicates an administrative error in the initial Form 4, which could raise concerns about internal controls.

Risks

• The stock sale by the CEO could be interpreted negatively by investors, although the amendment suggests it was due to an administrative error.
• Potential for increased scrutiny on insider trading compliance due to the need for an amended filing.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Amendments, while not uncommon, can draw additional attention to the transactions.

Stakeholder Impact

• Shareholders may be concerned about the initial error in reporting, but the prompt correction should mitigate concerns.
• The correction ensures transparency and compliance with SEC regulations.

Key Dates

Keywords

Form 4, insider trading, stock sale, amendment, Lithia Motors, Deboer, LAD, SEC