Form 4: Penske Automotive Director Acquires Phantom Stock

Penske Automotive Group Director Kimberly J McWaters acquired 1,488 deferred stock units, increasing her beneficial ownership to 60,087 units.

Summary

• Kimberly J McWaters, a Director of Penske Automotive Group, Inc. (PAG), acquired additional equity.
• The transaction involved the acquisition of 1,488 Deferred Stock Units (Phantom Stock).
• Following this transaction, Kimberly J McWaters beneficially owns a total of 60,087 Deferred Stock Units.
• Each Deferred Stock Unit is convertible on a one-for-one basis into Common Stock.
• The units become exercisable upon Kimberly J McWaters' separation from service from the Company's Board of Directors.
• The transaction date for this acquisition was December 16, 2025.

Sentiment

Score: 7

Explanation: The acquisition of deferred stock units by a director is generally viewed positively as it aligns the director's interests with long-term shareholder value, indicating confidence in the company's future.

Positives

• The acquisition of deferred stock units by a director aligns their interests with long-term shareholder value.
• Increased beneficial ownership by a director can signal confidence in the company's future prospects.

Future Outlook

The acquired deferred stock units will become exercisable upon Kimberly J McWaters' separation from service from the Company's Board of Directors.

Industry Context

This transaction represents a routine insider filing, common for directors receiving equity compensation, and does not directly reflect broader industry trends or competitive dynamics.

Comparison to Industry Standards

• The use of deferred stock units as compensation for directors is a common practice across various industries, aligning director interests with long-term shareholder value.
• This is consistent with typical corporate governance standards for director remuneration.

Related Party Transactions

• Acquisition of 1,488 deferred stock units by Director Kimberly J McWaters as part of her compensation.

Stakeholder Impact

• Shareholders: Increased alignment of director's interests with long-term shareholder value.

Next Steps

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

Key Dates

Recommendation

This Form 4 reports a routine acquisition of deferred stock units by a director as part of their compensation. While it indicates alignment of interests, it does not present new information significant enough to alter an existing investment thesis or recommendation for the stock.

Keywords

Penske Automotive Group, PAG, Form 4, Insider Transaction, Director Stock Acquisition, Deferred Stock Units, Phantom Stock, Beneficial Ownership