Penske Automotive (PAG) Director David Hoogendoorn Receives Award

What Happened
David Hoogendoorn, a director of Penske Automotive Group, was granted 10 derivative units (reported as an award, transaction code A) on September 1, 2026. The filing lists these as derivative securities (not an open-market purchase or sale); the units convert one-for-one into common shares (Footnote F1) and are exercisable beginning upon the reporting person's separation from service to the Company's Board of Directors (Footnote F2). The price is listed as not relevant (Footnote F4), so no cash value or exercise price is reported in the Form 4.

Key Details

• Transaction date: 2026-09-01; filed with the SEC on 2026-09-03 (timely filing).
• What was acquired: 10 derivative units (award).
• Conversion: one-for-one into common shares (F1).
• Exercise condition: exercisable beginning on separation from service to the Company's Board of Directors (F2).
• Price/Value: Not applicable / not reported (F4).
• Shares owned after transaction: not disclosed in the provided filing.
• Transaction code: A = Award/Grant.

Context
This is a compensatory award to a director and not a market purchase or sale. Such director awards are common and typically reflect compensation policy rather than an immediate buy/sell signal. Because these are derivative units with exercisability conditions, they do not represent immediate free-floating shares available for sale.