Asbury Automotive Group Adds Two Directors to Board
Ticker: ABG · Form: 8-K · Filed: Apr 19, 2024 · CIK: 1144980
Sentiment: neutral
Topics: board-of-directors, management-change
Related Tickers: ABG
TL;DR
Asbury Automotive Group (ABG) added two new directors to its board, effective April 18th.
AI Summary
Asbury Automotive Group, Inc. announced on April 18, 2024, the election of Michael P. Donohoe and David M. Pahl to its Board of Directors, effective immediately. This change coincides with the company's regular annual meeting of stockholders. The filing also includes information regarding compensatory arrangements for certain officers.
Why It Matters
The addition of new directors can signal strategic shifts or a response to evolving market conditions, potentially impacting the company's future direction and shareholder value.
Risk Assessment
Risk Level: low — This filing primarily concerns board appointments and does not involve significant financial transactions or operational changes that would typically increase risk.
Key Players & Entities
- Asbury Automotive Group, Inc. (company) — Registrant
- Michael P. Donohoe (person) — Newly elected Director
- David M. Pahl (person) — Newly elected Director
- April 18, 2024 (date) — Effective date of director elections
FAQ
Who were the individuals elected to the Board of Directors of Asbury Automotive Group, Inc.?
Michael P. Donohoe and David M. Pahl were elected to the Board of Directors.
When did the election of the new directors become effective?
The election of Michael P. Donohoe and David M. Pahl was effective as of April 18, 2024.
What is the primary purpose of this Form 8-K filing for Asbury Automotive Group, Inc.?
The primary purpose is to report the election of directors and related compensatory arrangements for certain officers.
In which state is Asbury Automotive Group, Inc. incorporated?
Asbury Automotive Group, Inc. is incorporated in Delaware.
What is the principal executive office address for Asbury Automotive Group, Inc.?
The principal executive offices are located at 2905 Premiere Parkway NW, Suite 300, Duluth, GA 30097.
Filing Stats: 685 words · 3 min read · ~2 pages · Grade level 11.1 · Accepted 2024-04-19 16:34:02
Key Financial Figures
- $0.01 — ange on which registered Common stock, $0.01 par value per share ABG New York Stock
- $59,133 — ce he will receive a monthly payment of $59,133. In connection with his retirement, Mr.
Filing Documents
- abg-20240418.htm (8-K) — 36KB
- ex101-agreement041924.htm (EX-10.1) — 102KB
- ex991-departurepressreleas.htm (EX-99.1) — 10KB
- abg-clicklanexpoweredby.jpg (GRAPHIC) — 33KB
- companylogoa27.jpg (GRAPHIC) — 13KB
- 0001144980-24-000106.txt ( ) — 359KB
- abg-20240418.xsd (EX-101.SCH) — 2KB
- abg-20240418_lab.xml (EX-101.LAB) — 21KB
- abg-20240418_pre.xml (EX-101.PRE) — 12KB
- abg-20240418_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. The following exhibits are furnished as part of this report. Exhibit No. Description 10.1 Transition and Retirement Agreement between Asbury Automotive Group, Inc. and George A. Villasana, dated as of April 18, 2024. 99.1 Press Release dated April 19, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ASBURY AUTOMOTIVE GROUP, INC. Date: April 19, 2024 By: /s/ David W. Hult Name: David W. Hult Title: Chief Executive Officer and President