Form 4: Penske Automotive Group EVP & CFO Michelle Hulgrave Reports Stock Transactions
SEC Form 4 Filing
Michelle Hulgrave, EVP & CFO of Penske Automotive Group, reports the withholding of shares for tax obligations and the sale of shares on June 1 and June 3, 2024.
Summary
- Michelle Hulgrave, EVP & CFO of Penske Automotive Group, filed a Form 4 detailing changes in beneficial ownership.
- On June 1, 2024, 1,737 shares of common stock were withheld to cover tax obligations related to vested restricted stock at a price of $152.1 per share.
- On June 3, 2024, Hulgrave sold 2,000 shares of common stock at a weighted average price of $153.1479, with prices ranging from $152.88 to $153.505.
- Following these transactions, Hulgrave directly owns 19,269 shares of Penske Automotive Group common stock.
Sentiment
Score: 5
Explanation: The document is a neutral regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of stock transactions by a company insider, which is common in publicly traded companies. It provides transparency into the trading activities of key executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership by a key executive.
- The transactions are part of the executive's compensation and wealth management strategy.
Key Dates
| Date | Description |
|---|---|
| 06/01/2024 | 1,737 shares of common stock withheld for payment of taxes on vested restricted stock. |
| 06/03/2024 | 2,000 shares of common stock sold at a weighted average price of $153.1479. |
| 06/04/2024 | Date of signature for the Form 4 filing. |
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