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SEC Filings

PENSKE AUTOMOTIVE GROUP, INC. filed this Form DEF 14A on 03/16/2017
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Table of Contents

Option Exercises and Stock Vested During 2016

  Stock Awards  


Number of Shares
Acquired on Vesting (#)

Value Realized
On Vesting ($)


Roger S. Penske

  115,304   4,551,049  

Chief Executive Officer


Robert H. Kurnick, Jr.

    20,723     817,937  



J.D. Carlson

  5,363   211,678  

Executive Vice President & Chief Financial Officer


Bud Denker

    3,425     135,185  

Executive Vice President — Human Resources


Shane M. Spradlin

  8,223   324,562  

Executive Vice President, General Counsel & Secretary


Pension Benefits and Nonqualified Deferred Compensation

Our executive officers are not eligible to participate in any defined benefit or non-qualified deferred compensation plans.

"Golden Parachutes" or Termination/Change in Control Payments

None of our current executive officers have been provided an employment agreement, nor are they entitled to any pre-arranged severance compensation. With respect to a change in control, none of our current executive officers have been guaranteed any change of control payments, however, our outstanding restricted stock grants provide that in the event of a change of control the award will vest. Based on a closing stock price of $50.73 on March 1, 2017, the following number of shares would vest assuming a change of control occurred on that date: Roger Penske 356,543 shares ($18,087,426), Robert Kurnick 70,552 shares ($3,579,103), Shane Spradlin 29,695 shares ($1,506,427), J.D. Carlson 20,961 shares ($1,063,352) and Bud Denker 16,711 shares ($847,749).