Asbury Automotive Group: Executive Departure, Short-Term Consulting Deal

What Happened

• Asbury Automotive Group (ABG) filed an 8-K reporting that Jed Milstein’s employment with the company has ended (previously disclosed in an 8-K on August 25, 2026). On August 31, 2026, the company entered into a Consulting and Contractor Agreement with Mr. Milstein. Under the agreement he will provide consulting services beginning September 1, 2026 through the end of 2026 to support a smooth transition. The agreement pays $27,083.33 per month, which is in addition to amounts he receives under his severance pay agreement.

Key Details

• Agreement date: August 31, 2026; services start: September 1, 2026 and run through December 31, 2026 (the end of 2026).
• Monthly consulting fee: $27,083.33, paid in addition to severance previously disclosed.
• The full Consulting and Contractor Agreement is attached to the filing as Exhibit 10.1.

Why It Matters

• For investors, this informs governance and leadership continuity: the company secured transitional support from its departing executive to help manage an orderly handover.
• The consulting cost is explicit and limited in duration (roughly four months), so the incremental financial impact is small and disclosed separately from severance.