---
schema_version: "secwatch.filing_event.v1"
accession: "0001019849-23-000033"
form_type: "8-K"
ticker: "PAG"
cik: "0001019849"
company_name: "PENSKE AUTOMOTIVE GROUP, INC."
filed_at: "2023-02-17T23:59:59+00:00"
generated_at: "2026-06-19T07:44:43.238552+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Penske Automotive Group announces $250M additional securities repurchase authority

## Summary
- 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.

## SEC filing metadata
- accession: 0001019849-23-000033
- form_type: 8-K
- ticker: PAG
- cik: 0001019849
- company_name: PENSKE AUTOMOTIVE GROUP, INC.
- filed_at: 2023-02-17T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.03, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000033/0001019849-23-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000033/pag-20230216.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001019849-23-000033
- JSON: https://secwatch.observer/filing/0001019849-23-000033.json
- Plain text: https://secwatch.observer/filing/0001019849-23-000033.txt

## Key facts
- Governance Changes
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984923000033/0001019849-23-000033-index.htm

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