Form 4: Director Smith Acquires Deferred Stock Units in Penske Automotive Group
SEC Form 4 Filing
Director Greg C Smith acquired 113 deferred stock units (phantom stock) in Penske Automotive Group on March 1, 2024, according to a Form 4 filing.
Summary
- On March 1, 2024, Greg C Smith, a director of Penske Automotive Group, acquired 113 deferred stock units, also known as phantom stock.
- These units are exercisable upon Smith's separation from service from the Company's Board of Directors.
- Following the transaction, Smith directly owns 20,286 deferred stock units.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing a transaction by a company director. It doesn't inherently convey positive or negative sentiment.
Industry Context
Form 4 filings are standard disclosures required by the SEC for insiders (directors, officers, and 10% owners) of publicly traded companies, providing transparency into their transactions in the company's stock.
Stakeholder Impact
- The transaction may have a minor impact on shareholders by slightly increasing the number of deferred stock units outstanding.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: Greg C Smith acquired deferred stock units. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
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