Group 1 Automotive Inc 8-K, filed Feb 26, 2025
Group 1 Automotive Inc (GPI)
8-K
2025-02-26
For: 2025-02-24
View Original
Added on
April 05, 2026
About this 8-K
Group 1 Automotive Inc filed this 8-K on February 26, 2025, reporting on events of February 24, 2025.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): February 24, 2025
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 26, 2025, Group 1 Automotive, Inc., a Delaware corporation (the “Company”), announced that Michael D. Jones, Senior Vice President – Aftersales, notified the Company that he will retire from his officer position effective September 1, 2025 (the “Transition Date”). Post Transition Date, Mr. Jones will remain with the Company as a part-time employee through December 31, 2025 (the “Retirement Date”). In recognition of his actual performance for 2025 and in consideration for remaining as a part-time employee, Mr. Jones will continue to be paid his regular salary through the Transition Date and will be eligible to receive a prorated annual bonus under the Company’s Annual Incentive Plan. In addition, because Mr. Jones qualifies for the “Qualified Retirement” provisions set forth in the equity award agreements governing his outstanding restricted stock awards, which have been filed as exhibits to the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, he will be entitled to continued vesting of those awards in accordance with their terms following his Retirement Date, provided that he complies with the confidentiality, non-competition, and non-solicitation provisions contained in those agreements.
SIGNATURES
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, thereunto duly authorized.
| Group 1 Automotive, Inc. | |||||||||||||||||||||||
| Date: | February 26, 2025 | By: | /s/ Gillian A. Hobson | ||||||||||||||||||||
| Name: Gillian A. Hobson | |||||||||||||||||||||||
| Title: Senior Vice President | |||||||||||||||||||||||