Company: GPI
Filing Date: 2025-02-26
Form Type: 8-K
Source: 0001031203-25-000015
Chunk: 0

Company: GROUP 1 AUTOMOTIVE INC
Filing Date: 2025-02-26
Form: 8-K
Item: Item 5.02
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Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 26, 2025, Group 1 Automotive, Inc., a Delaware corporation (the “ Company”), announced that Michael D. Jones, Senior Vice President - Aftersales, notified the Company that he will retire from his officer position effective September 1, 2025 (the “ Transition Date”). Post Transition Date, Mr. Jones will remain with the Company as a part-time employee through December 31, 2025 (the “ Retirement Date”). In recognition of his actual performance for 2025 and in consideration for remaining as a part-time employee, Mr. Jones will continue to be paid his regular salary through the Transition Date and will be eligible to receive a prorated annual bonus under the Company’s Annual Incentive Plan. In addition, because Mr. Jones qualifies for the “ Qualified Retirement” provisions set forth in the equity award agreements governing his outstanding restricted stock awards, which have been filed as exhibits to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, he will be entitled to continued vesting of those awards in accordance with their terms following his Retirement Date, provided that he complies with the confidentiality, non-competition, and non-solicitation provisions contained in those agreements.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

  Group 1 Automotive, Inc.                                                                               
                                Date:      February 26, 2025      By:      /s/ Gillian A. Hobson         
                                                                           Name: Gillian A. Hobson       
                                                                           Title: Senior Vice President