---
schema_version: "secwatch.filing_event.v1"
accession: "0001019849-24-000010"
form_type: "8-K"
ticker: "PAG"
cik: "0001019849"
company_name: "PENSKE AUTOMOTIVE GROUP, INC."
filed_at: "2024-01-24T23:59:59+00:00"
generated_at: "2026-06-06T18:57:49.223162+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Penske Automotive enters voting agreement capping Penske Corp's voting power at 43.57%; shareholder lawsuit dismissed

## Summary
- Penske Corporation (owns 51% of PAG voting stock) agreed to vote shares above 43.57% proportionally with other shareholders.
- Voting agreement terminates when Penske Corp's beneficial ownership falls below 30% of outstanding voting securities.
- Shareholder derivative lawsuit over 2021-2023 stock repurchase programs voluntarily dismissed as moot.
- Governance change addresses concerns about controller attaining majority voting control without paying premium.

## SEC filing metadata
- accession: 0001019849-24-000010
- form_type: 8-K
- ticker: PAG
- cik: 0001019849
- company_name: PENSKE AUTOMOTIVE GROUP, INC.
- filed_at: 2024-01-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1019849/000101984924000010/0001019849-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1019849/000101984924000010/pag-20240123.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001019849-24-000010
- JSON: https://secwatch.observer/filing/0001019849-24-000010.json
- Plain text: https://secwatch.observer/filing/0001019849-24-000010.txt

## Key facts
- Material Agreements
  PENSKE AUTOMOTIVE GROUP, INC. entered into Voting Agreement with Penske Corporation (effective 2024-01-23).
  - Action: entry
  - Counterparty: Penske Corporation
  - Effective: 2024-01-23
  source text: Penske Corporation (“PC”) currently beneficially owns 34,181,121 shares of our Voting Common Stock, representing 51% of our outstanding Voting Common Stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1019849/000101984924000010/0001019849-24-000010-index.htm

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