Form 4: Penske Automotive CFO Sells Shares Under 10b5-1 Plan

Penske Automotive Group's EVP & CFO, Michelle Hulgrave, sold 2,100 shares of common stock for approximately $160.17 per share under a pre-arranged trading plan.

Summary

• Michelle Hulgrave, Executive Vice President and Chief Financial Officer of Penske Automotive Group, Inc. (PAG), reported the sale of 2,100 shares of the company's common stock.
• The transaction occurred on November 24, 2025, at a weighted average sale price of $160.1669 per share.
• The total value of the shares sold was approximately $336,350.49.
• Following this transaction, Ms. Hulgrave directly beneficially owns 16,822 shares of Penske Automotive Group common stock.
• The sale was executed pursuant to a Rule 10b5-1(c) pre-arranged trading plan.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine insider transaction executed under a pre-arranged 10b5-1 plan, which is not typically indicative of positive or negative company performance.

Positives

• The transaction was executed under a Rule 10b5-1 plan, indicating a pre-scheduled sale rather than a reaction to new, non-public information, which can be viewed positively by investors as it suggests a planned financial move rather than a lack of confidence.

Negatives

• An insider sale, even if pre-planned, reduces the direct equity stake of a key executive in the company, which some investors might interpret as a slight reduction in management's direct alignment with shareholder interests.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

This Form 4 filing reports a routine insider transaction and does not provide information relevant to broader industry trends or competitive analysis within the automotive retail sector.

Stakeholder Impact

• Shareholders: A minor reduction in insider ownership, but the sale was pre-planned under a 10b5-1 plan, which typically mitigates concerns about opportunistic selling.
• Management: The EVP & CFO continues to hold a significant number of shares (16,822), maintaining alignment with shareholder interests.

Key Dates

Keywords

Penske Automotive Group, PAG, Insider Trading, Form 4, Michelle Hulgrave, Stock Sale, EVP & CFO, 10b5-1 Plan