Penske Automotive Group announces $250M additional securities repurchase authority

PENSKE AUTOMOTIVE GROUP, INC.

Board delegated $250M in new repurchase authority for common stock or debt; no expiration.
Prior outstanding authority was $3.6M as of Feb 7, 2023; total available now ~$253.6M.
In 2022, co repurchased 8.2M shares (10.6% outstanding) for $886.5M; YTD2023 repurchased 0.6M shares for $70.7M.
Bylaws amended to incorporate SEC universal proxy rules (Rule 14a-19) and update stockholder nomination procedures.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

PENSKE AUTOMOTIVE GROUP, INC.: Amended bylaws to address universal proxy rules, modify stockholder notice requirements, and update provisions on stockholder lists to reflect changes to Delaware General Corporation Law (effective 2023-02-16).

Change: bylaw amendment
Effective: 2023-02-16

Exact text from the filing

On February 16, 2023, the Board of Directors (the “Board”) of Penske Automotive Group, Inc. (the “Company”) adopted the Second Amended and Restated Bylaws of the Company, effective immediately (as amended, the “Bylaws”).

View on SEC.gov

Browse all governance changes →

PENSKE AUTOMOTIVE GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001019849-23-000033

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.