Form 4: Penske Automotive Director Acquires Phantom Stock

Penske Automotive Group Director Wolfgang Duerheimer acquired 155 deferred stock units, increasing his beneficial ownership to 21,750 units.

Summary

• Wolfgang Duerheimer, a Director of Penske Automotive Group, Inc. (PAG), acquired 155 Deferred Stock Units (phantom stock).
• The transaction occurred on September 3, 2025.
• Following this acquisition, Duerheimer beneficially owns a total of 21,750 Deferred Stock Units.
• These units are exercisable upon Duerheimer's separation from service from the Company's Board of Directors and convert on a one-for-one basis to Common Stock.
• A Power of Attorney, dated July 23, 2025, authorizes Shane M. Spradlin, Jason T. Nichol, and Maggie Feher to prepare and file SEC Forms 3, 4, and 5 on Duerheimer's behalf.

Sentiment

Score: 7

Explanation: The acquisition of deferred stock units by a director is a positive signal of confidence and aligns interests, though it's a routine compensation event rather than a major strategic announcement.

Positives

• Director Wolfgang Duerheimer increased his beneficial ownership in the company by acquiring 155 deferred stock units, aligning his interests further with shareholders.
• The acquisition of phantom stock demonstrates continued commitment and confidence from a key board member.

Future Outlook

The filing does not provide specific forward-looking statements or guidance beyond the exercisability conditions of the deferred stock units upon the reporting person's separation from service.

Industry Context

This filing represents a routine insider transaction for a director's equity compensation. It does not provide broader industry context or trends, but generally, insider acquisitions of company stock, even phantom stock, can be viewed as a positive signal of confidence in the company's future performance within its sector.

Corporate Governance

Stakeholder Impact

• Shareholders: The acquisition of deferred stock units by a director generally signals confidence in the company's future, potentially positively influencing investor sentiment and aligning management interests with shareholder value creation.

Next Steps

• The deferred stock units will become exercisable upon Wolfgang Duerheimer's separation from service from the Company's Board of Directors.

Key Dates

Recommendation

The filing details a routine insider acquisition of deferred stock units as part of compensation, which is a positive signal of alignment but not a material event that would warrant a change in investment recommendation. It reinforces a 'hold' position for investors already in PAG, indicating stable governance and insider confidence without providing new catalysts for significant upside or downside.

Keywords

Penske Automotive Group, PAG, Wolfgang Duerheimer, Director, Deferred Stock Units, Phantom Stock, Insider Transaction, SEC Form 4, Equity Compensation, Corporate Governance