Consumer & Retail
Penske Automotive Group Executive Compensation (FY25)
PAG · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ Roger Penske | Latest say-on-pay support = May 13, 2026 | Chief executive pay ratio ◇ To the median employee |
Velarion Intel, $5,000/year: one seat · one year · every company we cover, with dashboards, peer screens and board-ready briefs.
The Penske Automotive Group brief, $500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
Both reports for $900.
Data as of November 4, 2026Latest filing (8-K): May 14, 2026
13 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Velarion Intel, one year, every company
226 figures on this page: 215 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Roger Penske: $8,777,453 → $8,771,209 (0.1% lower)
Say-on-pay support: 98.8% → 99.1% (0.3 points higher)
CEO pay ratio: 162:1 → 147:1 (9.3% lower)
Frequently asked questions
Answers drawn from the data on this page.
Who is Penske Automotive Group's chief executive and what were they paid?
Total compensation for Roger Penske, Chief Executive Officer, came to $8,771,209 in fiscal 2025. Penske's total was 0.1% lower than the $8,777,453 reported for fiscal 2024.
What was Penske Automotive Group's say-on-pay result?
The say-on-pay proposal drew 99.1% of votes cast for or against in favor at the meeting held May 13, 2026 for fiscal 2025.
Which companies are in Penske Automotive Group's peer group?
Companies named in the disclosed peer group include Asbury Automotive Group, Inc., AutoNation, Inc., Group 1 Automotive, Inc., Lithia Motors, Inc. and Sonic Automotive, Inc.
What is Penske Automotive Group's chief executive pay ratio?
The company reported a chief executive pay ratio of 147:1 for fiscal 2025.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Roger Penske Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Shelley Hulgrave EVP & Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Robert Kurnick Jr. President | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Shane Spradlin EVP, General Counsel & Secretary | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Bud Denker EVP – Human Resources | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Roger Penske Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Robert Kurnick Jr. President | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Shane Spradlin EVP, General Counsel & Secretary | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Bud Denker EVP – Human Resources | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Shelley Hulgrave EVP & Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Roger Penske Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Robert Kurnick Jr. President | ◇ | — | ◇ | — | — | — | ◇ | — not reconciled |
Shane Spradlin EVP, General Counsel & Secretary | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Shelley Hulgrave EVP & Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Bud Denker EVP – Human Resources | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Roger Penske Chief Executive Officer | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Robert Kurnick Jr. President | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Shane Spradlin EVP, General Counsel & Secretary | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Shelley Hulgrave EVP & Chief Financial Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Bud Denker EVP – Human Resources | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Bud Denker | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Robert Kurnick Jr. | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Roger Penske | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Shane Spradlin | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Shelley Hulgrave | RSU | ◇ | — | — | ◇ | — | — | ◇ |
Fiscal 2022 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Roger Penske | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Robert Kurnick Jr. | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Shane Spradlin | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Bud Denker | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| Shelley Hulgrave | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
H. Brian Thompson Lead independent director | ◇ | ◇ | — | — | — | ◇ | ◇ |
Greg Smith | ◇ | ◇ | — | — | — | ◇ | ◇ |
Sandra Pierce | ◇ | ◇ | — | — | — | ◇ | ◇ |
Michael Eisenson | ◇ | ◇ | — | — | — | ◇ | ◇ |
Kimberly McWaters | ◇ | ◇ | — | — | — | ◇ | ◇ |
David Hoogendoorn | ◇ | ◇ | — | — | — | ◇ | ◇ |
Ray Scott | ◇ | ◇ | — | — | — | ◇ | ◇ |
Greg Penske | ◇ | ◇ | — | — | — | ◇ | ◇ |
Lisa Davis | ◇ | ◇ | — | — | — | ◇ | ◇ |
Wolfgang Dürheimer | ◇ | ◇ | — | — | — | — | ◇ |
Ronald Steinhart | ◇ | — | — | — | — | ◇ | ◇ |
John Barr | ◇ | — | — | — | — | ◇ | ◇ |
Roger Penske, Yosuke Kawakami and Robert Kurnick Jr served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Board chair premium | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Nominating and governance chair | ◇ |
Equity is delivered as Stock or Deferred Stock.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Asbury Automotive Group, Inc. ABG
- AutoNation, Inc. AN
- Group 1 Automotive, Inc. GPI
- Lithia Motors, Inc. LAD
- Sonic Automotive, Inc. SAH
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 13, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 14, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 9, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 11, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 12, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 12, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 13, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 9, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 10, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | May 10, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 4, 2016 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Chief executive total compensation
◇
Ask our research desk — $99, 24h, every figure cited to its filing.
Sample answer — “What is the CEO’s total compensation?”
- Roger Penske (Chief Executive Officer), FY2025 total compensation $8,771,209 (base salary $1,750,000) [exec_comp, SEC accession 0001140361-26-010576, filed 2026-03-20]What this page does not include
Everything above is a fact Penske Automotive Group disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Penske Automotive Group sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
226 figures on this page: 215 cited to the filing that reported them, 11 calculated from figures it prints.
215 cited to the filing
11 calculated from the filing
Documents cited
- 0001628280-26-035192
- 0001140361-26-010576Director Compensation · Grants of Plan-Based Awards
- 0001019849-25-000059
- 0001019849-24-000062
- 0001019849-23-000075
- 0001140361-23-013983
- 0001019849-22-000024
- 0001019849-21-000021
- 0001019849-20-000016
- 0001019849-19-000014
- 0001019849-18-000013Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001299933-17-000489Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001299933-16-002430Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Penske Automotive Group executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PAG (accessed 2026).
Short form: data: Velarion
The Penske Automotive Group brief, $500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
Both reports for $900.
13 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Penske Automotive Group and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Consumer & Retail rankings
Peers Penske Automotive Group discloses
The companies named in PAG's own disclosed peer group.
Terms on this page
Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}