Form 4: Penske Automotive Group: Roger Penske Reports Stock Transactions

Roger Penske, Chairman and CEO of Penske Automotive Group, reports the withholding of shares for tax obligations and indirect beneficial ownership through Penske Corporation subsidiaries.

Summary

• Roger Penske, Chairman & CEO of Penske Automotive Group, filed a Form 4 detailing changes in beneficial ownership.
• On June 1, 2024, 31,161 shares of common stock were withheld to cover tax obligations related to vested restricted stock at a price of $152.1 per share.
• Following the transaction, Mr. Penske directly owns 247,317 shares of common stock.
• Mr. Penske also has indirect beneficial ownership of 34,181,121 shares through Penske Automotive Holdings Corp. and Penske Corporation.
• He disclaims beneficial ownership of these indirectly held securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing related to stock transactions by an insider. It doesn't inherently indicate positive or negative sentiment, but rather provides factual information.

Management Comments

• Mr. Penske disclaims beneficial ownership of the securities held indirectly, except to the extent of his pecuniary interest.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.

Key Dates