Duerheimer Wolfgang 4

What Happened

• Wolfgang Duerheimer, a director of Penske Automotive Group (PAG), received a grant of 208 derivative units (reported as an "A" — award/acquisition) on March 5, 2026. The filing lists no price or dollar value for the award (price not relevant).
• The units are exercisable beginning upon the reporting person's separation from service on the company's Board of Directors (per filing footnote). This is an award (compensation/deferred award), not a market purchase or sale.

Key Details

• Transaction date: 2026-03-05; SEC Form 4 filed 2026-03-09 (filing appears within the standard two-business-day reporting window).
• Security: derivative units (award) — 208 units; Price/value: not applicable / not reported.
• Vesting/exercise condition: exercisable beginning upon separation from service (Footnote F2). Footnote F1 indicates a one-for-one conversion.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Transaction code: A = Award/Grant/Other acquisition; Footnote F4 reiterates price is not relevant.

Context

• These awards are a form of director compensation and are typically deferred/derivative units that convert to common stock upon the stated condition (here, separation from board service). They are not an open-market purchase or an immediate sale, so they do not directly indicate near-term buying or selling sentiment.
• No indication in this filing of a 10% owner, a 10b5-1 plan, or tax-withholding sale; information is limited to the grant and its exercisability condition.