# EDGAR Filing Document

**Accession Number:** 0001019849
**File Stem:** 0001019849-23-000007
**Filing Date:** 2023-1
**Character Count:** 11198
**Document Hash:** fb5c9754e4c8b27f600e6288c5fe13ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001019849-23-000007.hdr.sgml**: 20230125

**ACCESSION NUMBER**: 0001019849-23-000007

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20230125

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230125

**DATE AS OF CHANGE**: 20230125

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PENSKE AUTOMOTIVE GROUP, INC.
- **CENTRAL INDEX KEY:** 0001019849
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **IRS NUMBER:** 223086739
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-12297
- **FILM NUMBER:** 23552762

**BUSINESS ADDRESS:**
- **STREET 1:** 2555 TELEGRAPH RD
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48302-0954
- **BUSINESS PHONE:** 248-648-2500

**MAIL ADDRESS:**
- **STREET 1:** 2555 TELEGRAPH RD
- **CITY:** BLOOMFIELD HILLS
- **STATE:** MI
- **ZIP:** 48302-0954

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UNITED AUTO GROUP INC
- **DATE OF NAME CHANGE:** 19960726

?xml version="1.0" ? pag-20230125

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 <br> Date of Report (Date of Earliest Event Reported): January 25, 2023

Penske Automotive Group, Inc.

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| Delaware | 1-12297 | 22-3086739 |
| (State or other jurisdiction | (Commission | (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 2555 Telegraph Road, |  |  |
| Bloomfield Hills, Michigan |  | 48302 |
| (Address of principal executive offices) |  | (Zip Code) |
| Registrant's telephone number, including area code: | Registrant's telephone number, including area code: | 248-648-2500 |
|  | Not Applicable |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Former name or former address, if changed since last report | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Former name or former address, if changed since last report | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Former name or former address, if changed since last report |

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Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| Voting Common Stock, par value $0.0001 per share | PAG | New York Stock Exchange |

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 8.01 Other Events**

On January 25, 2023, Penske Automotive Group, Inc. announced that its Board of Directors declared a quarterly dividend in the amount of $0.61 per share payable on March 1, 2023, to shareholders of record as of February 10, 2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.&nbsp;&nbsp;&nbsp;&nbsp;

**Item 9.01 Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

&nbsp;&nbsp;&nbsp;&nbsp;

**Exhibit Index**

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| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 99.1 | <u>[Press Release](pr-penskeautomotivedividen.htm)</u>. |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL). |

---

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**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 hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | Penske Automotive Group, Inc. | Penske Automotive Group, Inc. |
| *January 25, 2023* | *By:*  | */s/ Shane M. Spradlin* |
|  |  | *Name: Shane M. Spradlin* |
|  |  | *Title: Executive Vice President* |

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## Exhibit 99.1

&nbsp;&nbsp;&nbsp;&nbsp;

![image_0.jpg](image_0.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;

**<u>FOR IMMEDIATE RELEASE</u>**

**PENSKE AUTOMOTIVE GROUP INCREASES DIVIDEND** 

***Dividend Increased by $0.04 per share, or 7%, to $0.61***

**BLOOMFIELD HILLS, MI**, January 25, 2023 -- Penske Automotive Group, Inc. (NYSE: PAG), a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers, today announced that its Board of Directors has increased the Company's quarterly dividend by $0.04 per share, or 7%, to $0.61 per share. "Based on the strength of the Company's diversified business model and our continued strong cash flow, we are pleased to provide our shareholders with an increase in the cash dividend," said Penske Automotive Group President, Robert Kurnick, Jr. The dividend is payable March 1, 2023, to shareholders of record as of February 10, 2023.

**<u>About Penske Automotive</u>**

Penske Automotive Group, Inc., (NYSE: PAG) headquartered in Bloomfield Hills, Michigan, is a diversified international transportation services company and one of the world's premier automotive and commercial truck retailers. PAG operates dealerships principally in the United States, the United Kingdom, Canada, Germany, Italy, and Japan and is one of the largest retailers of commercial trucks in North America for Freightliner. PAG also distributes and retails commercial vehicles, diesel and gas engines, power systems and related parts and services principally in Australia and New Zealand. Additionally, PAG owns 28.9% of Penske Transportation Solutions ("PTS"), a business that manages one of the largest, most comprehensive and modern trucking fleets in North America with over 414,500 trucks, tractors, and trailers under lease, rental, and/or maintenance contracts, and provides innovative transportation, supply chain, and technology solutions to its customers. PAG is a member of the Fortune 500, Russell 1000, and Russell 3000 indexes, and is ranked among the World's Most Admired Companies by Fortune Magazine. For additional information, visit the Company's website at <u>www.penskeautomotive.com</u>.

**<u>Caution Concerning Forward Looking Statements</u>**

Statements in this press release may involve forward-looking statements, including forward-looking statements regarding Penske Automotive Group, Inc.'s financial performance and future plans. Actual results may vary materially because of risks and uncertainties that are difficult to predict. These risks and uncertainties include, among others, those related to macro-economic, geo-political and

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industry conditions and events, including their impact on new and used vehicle sales, the availability of consumer credit, changes in consumer demand, consumer confidence levels, fuel prices, personal discretionary spending levels, consumer credit availability, interest rates, and unemployment rates; our ability to obtain vehicles and parts from our manufacturers, especially in light of supply chain disruptions due to natural disasters, the shortage of microchips or other components, the COVID-19 pandemic, the war in Ukraine, challenges in sourcing labor, or other disruptions; changes in the retail model either from direct sales by manufacturers, a transition to an agency model of sales, sales by online competitors, or from the expansion of electric vehicles; the continued effect of COVID-19 on the global economy, including our ability to react effectively to changing business conditions in light of the COVID-19 pandemic; the rate of inflation, including its impact on vehicle affordability; changes in interest rates and foreign currency exchange rates; our ability to consummate and integrate acquisitions; with respect to PTS, changes in the financial health of its customers, labor strikes or work stoppages by its employees, a reduction in PTS' asset utilization rates, continued availability from truck manufacturers and suppliers of vehicles and parts for its fleet, changes in values of used trucks which affects PTS' profitability on truck sales and regulatory risks and related compliance costs; our ability to realize returns on our significant capital investment in new and upgraded dealership facilities; our ability to navigate a rapidly changing automotive and truck landscape; our ability to respond to new or enhanced regulations in both our domestic and international markets relating to automotive dealerships and vehicles sales, including those related to emissions standards, as well as changes in consumer sentiment relating to commercial truck sales that may hinder our or PTS' ability to maintain, acquire, sell, or operate trucks; the success of our distribution of commercial vehicles, engines, and power systems; natural disasters; recall initiatives or other disruptions that interrupt the supply of vehicles or parts to us; the outcome of legal and administrative matters, and other factors over which management has limited control. These forward-looking statements should be evaluated together with additional information about Penske Automotive Group's business, markets, conditions, risks and other uncertainties, which could affect Penske Automotive Group's future performance. The risks and uncertainties discussed above are not exhaustive and additional risk and uncertainties are addressed in Penske Automotive Group's Form 10-K for the year ended December 31, 2021, Form 10-Q for the quarterly periods ended March 31, 2022, June 30, 2022, and September 30, 2022, and its other filings with the Securities and Exchange Commission ("SEC"). This press release speaks only as of its date, and Penske Automotive Group disclaims any duty to update the information herein.

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&nbsp;&nbsp;&nbsp;&nbsp;

*Inquiries should contact:*

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| | |
|:---|:---|
| Shelley Hulgrave | Anthony Pordon |
| Executive Vice President and | Executive Vice President Investor Relations |
| Chief Financial Officer | and Corporate Development |
| Penske Automotive Group, Inc. | Penske Automotive Group, Inc. |
| 248-648-2812 | 248-648-2540 |
| shulgrave@penskeautomotive.com | tpordon@penskeautomotive.com |

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