---
schema_version: "secwatch.filing_event.v1"
accession: "0001019849-21-000063"
form_type: "8-K"
ticker: "PAG"
cik: "0001019849"
company_name: "PENSKE AUTOMOTIVE GROUP, INC."
filed_at: "2021-12-17T23:59:59+00:00"
generated_at: "2026-06-27T23:58:16.359888+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001019849-21-000063
- form_type: 8-K
- ticker: PAG
- cik: 0001019849
- company_name: PENSKE AUTOMOTIVE GROUP, INC.
- filed_at: 2021-12-17T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000101984921000063/0001019849-21-000063-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000101984921000063/pag-20211216.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001019849-21-000063
- JSON: https://secwatch.observer/filing/0001019849-21-000063.json
- Plain text: https://secwatch.observer/filing/0001019849-21-000063.txt

## Key facts
- Executive change
  Kota Odagiri was appointed as Director at PENSKE AUTOMOTIVE GROUP, INC..
  - Action: appointed
  - Role: Director
  source text: the Board of Directors filled the vacancy created by Mr. Yamanaka’s resignation by appointing Kota Odagiri as a director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984921000063/0001019849-21-000063-index.htm
- Executive change
  Masashi Yamanaka resigned as Director at PENSKE AUTOMOTIVE GROUP, INC..
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984921000063/0001019849-21-000063-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.