Director Wolfgang Duerheimer granted 208 deferred units at Penske (NYSE: PAG)

Rhea-AI Filing Summary

Duerheimer Wolfgang reported acquisition or exercise transactions in this Form 4 filing.

Penske Automotive Group director Wolfgang Duerheimer received a grant of 208 Deferred Stock Units (phantom stock). These units were awarded on March 5, 2026 at a price that is stated as not relevant to the transaction.

Each unit represents one share of Penske Automotive Group common stock on a one-for-one basis. The units become exercisable when Duerheimer separates from service on the company’s Board of Directors. After this grant, he directly holds a total of 23,633 Deferred Stock Units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Duerheimer Wolfgang

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units (Phantom Stock)	208	$0.00	--

Holdings After Transaction: Deferred Stock Units (Phantom Stock) — 23,633 shares (Direct)

Footnotes (1)

1. One for one. These units are exercisable beginning on the reporting person's separation from service from the Company's Board of Directors. Not applicable. Price is not relevant to this transaction.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Duerheimer Wolfgang

(Last) (First) (Middle)

2555 TELEGRAPH RD.

(Street)

BLOOMFIELD HILLS MI 48302

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PENSKE AUTOMOTIVE GROUP, INC. [ PAG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units (Phantom Stock)	(1)	03/05/2026		A		208		(2)	(3)	Common Stock	208	(4)	23,633	D

Explanation of Responses:

1. One for one.

2. These units are exercisable beginning on the reporting person's separation from service from the Company's Board of Directors.

3. Not applicable.

4. Price is not relevant to this transaction.

Remarks:

	/s/ Shane M. Spradlin, by power of attorney	03/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did PAG director Wolfgang Duerheimer report?

Wolfgang Duerheimer reported receiving 208 Deferred Stock Units tied to Penske Automotive Group stock. The award is a grant of phantom stock, with each unit representing one common share, and it increases his direct holdings to a total of 23,633 Deferred Stock Units.

When did Wolfgang Duerheimer receive the 208 deferred stock units from PAG?

Wolfgang Duerheimer received the 208 Deferred Stock Units on March 5, 2026. This date reflects when the grant or award was made, as reported in the Form 4, and determines when the new units were added to his existing deferred stock holdings.

How many Penske Automotive Group deferred stock units does Duerheimer hold after this grant?

After receiving the latest grant, Wolfgang Duerheimer directly holds 23,633 Deferred Stock Units. This total includes the newly awarded 208 units and represents his aggregate deferred phantom stock position linked one-for-one to Penske Automotive Group’s common shares.

What are Deferred Stock Units (phantom stock) in the PAG Form 4 filing?

The Deferred Stock Units in this PAG filing are phantom stock awards where each unit equals one common share. They do not involve an immediate cash price and generally settle in stock after a specified event, providing equity-linked compensation without current share issuance.

When can Wolfgang Duerheimer access or exercise his PAG deferred stock units?

The deferred stock units become exercisable when Wolfgang Duerheimer separates from service on Penske Automotive Group’s Board. This means settlement is deferred until he leaves the board, aligning the award’s value with the company’s share performance over his service period.