secwatch.observer — SEC 8-K summary
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Issuer:     LITHIA MOTORS INC (LAD)
CIK:        0001023128
Form:       8-K
Filed at:   2022-10-03T23:59:59+00:00
Accession:  0001023128-22-000107
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lithia Motors elects former Toyota CEO James Lentz to Board, expanding to eight directors
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- Board expanded from seven to eight directors; Lentz appointed effective October 1, 2022.
- Annual retainer of $100,000 plus RSUs valued at ~$99,000, vesting over director compensation year.
- Lentz spent 38 years at Toyota, serving as CEO of Toyota Motor Sales U.S.A. and Toyota Motor North America.
- Expected to serve on the Board's compensation and audit committees.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023128/000102312822000107/0001023128-22-000107-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023128/000102312822000107/lad-20220930.htm
  HTML page:      https://secwatch.observer/filing/0001023128-22-000107

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer