Short answer
ASBURY AUTOMOTIVE GROUP INC (ABG) filed an 8-K current report with the SEC on May 6, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). Daniel Clara became President and CEO on May 4, 2026, formalizing leadership succession.
ASBURY AUTOMOTIVE GROUP INC 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Daniel Clara became President and CEO on May 4, 2026, formalizing leadership succession
- Base salary $1.1 million, with target annual incentive opportunity of 125% of salary
- Non-change-in-control termination: 100% salary, 100% target bonus, 12 months benefits, and 364-day equity acceleration
- Change-in-control termination: 200% salary, 200% target bonus, 24 months benefits, and full award vesting
- Agreement runs through May 4, 2027, renewing annually unless terminated with 180 days’ notice
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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