Penske Automotive authorizes $250M share repurchase, appoints new director from Mitsui

PENSKE AUTOMOTIVE GROUP, INC.

Board approved new $250 million securities repurchase authorization; $54.1M repurchased in Q4 to date.
Masashi Yamanaka resigned from board; Kota Odagiri appointed director effective Dec 16, 2021.
Entered Services Agreement with Mitsui; Odagiri to assist strategic development at $87,500/quarter.
Mitsui and Penske entities are top shareholders (17.1% and 45.1%) with governance rights; PTS distributions $106.4M in 9M 2021.

item 1.01 item 5.02 item 8.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Kota Odagiri

Director

PAG · PENSKE AUTOMOTIVE GROUP, INC.

Effective: 2021-12-16
Filed: December 17, 2021, 6:59 PM ET

the Board of Directors filled the vacancy created by Mr. Yamanaka’s resignation by appointing Kota Odagiri as a director.

Departed

Masashi Yamanaka

Director

PAG · PENSKE AUTOMOTIVE GROUP, INC.

Effective: 2021-12-16
Successor: Kota Odagiri
Filed: December 17, 2021, 6:59 PM ET

On December 16, 2021, Masashi Yamanaka resigned from our Board of Directors and the Board of Directors filled the vacancy created by Mr. Yamanaka’s resignation by appointing Kota Odagiri as a director.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kota Odagiri was appointed as Director at PENSKE AUTOMOTIVE GROUP, INC..

Action: appointed
Role: Director

Exact text from the filing

the Board of Directors filled the vacancy created by Mr. Yamanaka’s resignation by appointing Kota Odagiri as a director.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Masashi Yamanaka resigned as Director at PENSKE AUTOMOTIVE GROUP, INC..

Action: resigned
Role: Director

Exact text from the filing

On December 16, 2021, Masashi Yamanaka resigned from our Board of Directors and the Board of Directors filled the vacancy created by Mr. Yamanaka’s resignation by appointing Kota Odagiri as a director.

View on SEC.gov

PENSKE AUTOMOTIVE GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001019849-21-000063

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