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SEC Filings

DEF 14A
PENSKE AUTOMOTIVE GROUP, INC. filed this Form DEF 14A on 03/16/2017
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$902,199 in shares of restricted stock granted in February 2017, as more fully discussed above in "CD&A — President Compensation." Mr. Kurnick did not receive an annual cash bonus because he received this restricted stock grant in lieu of a cash bonus.

Other Restricted Stock Awards.    The equity awards granted in February 2016 to Messrs. Carlson, Denker and Spradlin were awarded as part of an annual grant of restricted stock pursuant to the terms of the 2015 Equity Incentive Plan. These awards each vest annually on June 1 over four years at a rate of 15%, 15%, 20% and 50% and were issued based on principles described in the "CD&A — Incentive Equity Awards."

Outstanding Equity Awards at 2016 Year-End

  Stock Awards  

Name





Number of Shares
of Stock That
Have Not Vested (#)





Market Value of Shares
of Stock That
Have Not Vested (1)
 

 

 

 

 

 

 

 

 

Roger S. Penske

  356,543 (2) $ 18,483,189  

Chief Executive Officer

         

Robert H. Kurnick, Jr.

    70,552 (3) $ 3,657,416  

President

             

J.D. Carlson

  17,100 (4) $ 886,464  

Executive Vice President & Chief Financial Officer

         

Bud Denker

    12,850 (5) $ 666,144  

Executive Vice President — Human Resources

             

Shane M. Spradlin

  24,000 (6) $ 1,244,160  

Executive Vice President, General Counsel & Secretary

         

(1)    Market value is based upon the closing price of our common stock on December 30, 2016 ($51.84).

(2)    These restricted shares vest as follows:

June 1, 2017 – 102,699

  June 1, 2020 – 56,234               

June 1, 2018 – 91,090

  June 1, 2021 – 43,543               

June 1, 2019 – 62,977

       

(3)    These restricted shares vest as follows:

June 1, 2017 – 19,131

  June 1, 2020 – 11,246               

June 1, 2018 – 19,008

  June 1, 2021 – 8,709               

June 1, 2019 – 12,458

                  

(4)    These restricted shares vest as follows:

June 1, 2017 – 5,475

  June 1, 2019 – 4,750               

June 1, 2018 – 4,375

  June 1, 2020 – 2,500               

(5)    These restricted shares vest as follows:

June 1, 2017 – 4,050

  June 1, 2019 – 3,000               

June 1, 2018 – 3,300

  June 1, 2020 – 2,500               

(6)    The restricted shares vest as follows:

June 1, 2017 – 8,714

  June 1, 2019 – 5,250               

June 1, 2018 – 6,286

  June 1, 2020 – 3,750               

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