[Form 4] Penske Automotive Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Shane M. Spradlin, EVP, General Counsel & Secretary of Penske Automotive Group (PAG), reported a sale of company common stock on 08/13/2025. The Form 4 shows 3,000 shares were disposed of in an open-market transaction at a weighted average sale price of $184.3014, with trade prices ranging from $183.94 to $184.58. After the sale, the reporting person beneficially owned 33,152 shares, held directly. The filing is signed and dated 08/15/2025 and includes an undertaking to provide trade-level detail on request.

Positive

• Timely disclosure: Form 4 filed and signed within two days of the transaction, demonstrating regulatory compliance
• Transparency: Reporting person offers to provide full trade-by-trade details upon request, clarifying the weighted average price

Negative

• Officer sale: An executive disposition of 3,000 shares was executed, reducing the reporting person's direct holdings to 33,152 shares

Insights

Corporate Governance Expert

TL;DR: Routine officer sale disclosed; timely Form 4 filing supports regulatory compliance but conveys limited material change.

The filing documents an officer-level open-market disposition of 3,000 shares at a weighted average price of $184.3014, leaving the insider with 33,152 shares. The report includes an explicit note that the sale executed at multiple prices and offers full trade detail on request, which is consistent with transparent reporting practices. There is no indication of a planned trading program or of any change in role or control.

Securities Analyst

TL;DR: Small-scale insider sale; impact on valuation or control appears minimal based on disclosed quantities.

The transaction size (3,000 shares) relative to the post-transaction holding (33,152 shares) suggests a modest reduction in the reporting person's position. The weighted average sale price is reported as $184.3014 with execution prices between $183.94 and $184.58, indicating normal-market activity rather than a block transfer. The Form 4 is informational and lacks accompanying operational or financial data to imply broader company impact.

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^*

Spradlin Shane M.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Gen. Counsel & Sec.

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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
Common Stock	08/13/2025		S		3,000	D	$184.3014(1)	33,152	D

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

Explanation of Responses:

1. The transaction was executed in multiple trade prices ranging from $183.94 to $184.58. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer, or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.

Remarks:

	/s/ Shane M. Spradlin	08/15/2025
	** 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 transaction did Shane M. Spradlin report on Form 4 for PAG?

The Form 4 reports an open-market sale of 3,000 shares of Penske Automotive Group common stock executed on 08/13/2025.

At what price were the PAG shares sold by the reporting person?

The filing reports a weighted average sale price of $184.3014, with execution prices ranging from $183.94 to $184.58.

How many PAG shares does the reporting person own after the transaction?

After the sale the reporting person beneficially owned 33,152 shares, held directly.

When was the Form 4 signed and filed?

The Form 4 is signed by Shane M. Spradlin and dated 08/15/2025.

Does the filing indicate a Rule 10b5-1 trading plan?

No indication of a Rule 10b5-1 trading plan is provided in this Form 4; the form does not check the plan box.