GROUP 1 AUTOMOTIVE INC
For the period ended May 13, 2025. Filed Apr 4, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 13, 2025 · Filed Apr 4, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
(Amendment No. )
| Filed by the Registrant | Filed by a Party other than the Registrant |
Check the appropriate box:
Preliminary Proxy Statement
Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2))
Definitive Proxy Statement
Definitive Additional Materials
Soliciting Material under §240.14a-12
GROUP 1 AUTOMOTIVE, INC.
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
No fee required.
Fee paid previously with preliminary materials.
Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
Our Core Values
Integrity
We conduct ourselves with the highest level of ethics both personally and professionally when we sell to and perform services for our customers without compromising our honesty.
Respect
We treat everyone, customers and colleagues alike, with dignity and equality.
Teamwork
We put the interest of the group first, before our individual interests, as we know that success only comes when we work together.
Transparency
We promote open and honest communication between each other and with our customers.
Professionalism
We set our standards high so that we can exceed expectations and strive for perfection in everything we do.
Notice of 2025 AnnualMeeting of Shareholders
PLACEOur 2025 Annual Meeting will be held in a virtual-only format at:www.virtualshareholdermeeting.com/GPI2025DATE AND TIMEMay 13, 20259:00 a.m. Central Daylight Saving TimeYour vote is very important. Please submit your proxy card or voting instruction form as soon as possible.
Who may voteIf you owned shares of Group 1 Automotive, Inc. (the “Company” or “Group 1”) common stock at the close of business on March 19, 2025, you are entitled to receive this Notice of the 2025 Annual Meeting of Shareholders (the “2025 Annual Meeting”) and to vote at the meeting, either during the virtual meeting or by proxy.How to attendTo be admitted to the 2025 Annual Meeting, enter the 16-digit voting control number found on your proxy card, voting instruction form, or email notification. You can find detailed instructions on pages 71-72 of this Proxy Statement.Please review this Proxy Statement and vote in one of the four ways shown to the right under “Voting Methods Available to You.”Houston, TexasApril 4, 2025By Order of the Board of DirectorsGillian A. HobsonSenior Vice President, Chief Legal Officer and Corporate Secretary
| AGENDA | |
|---|---|
| 1 | Election of Nine Directors |
| 2 | Advisory Vote to Approve Executive Compensation |
| 3 | Ratification of Deloitte & Touche LLP as Independent Registered Public Accounting Firm |
| 4 | Approve an Amendment to the Certificate of Incorporation to Eliminate Supermajority Requirements |
| 5 | Shareholder Proposal: Simple Majority Vote |
VOTING METHODS AVAILABLE TO YOU
InternetVisit the website shown on the proxy card (www.proxyvote.com), voting instruction form or electronic communications.
TelephoneCall the telephone number identified in your proxy card, voting instruction form or electronic communications.
MailSign, date and return your proxy card or voting instruction form in the enclosed envelope.
During the MeetingAttend the 2025 Annual Meeting online. See pages 71-72 for instructions on how to attend and vote online.
| GROUP 1 AUTOMOTIVE 2025 PROXY STATEMENT | i |
|---|
| Notice of 2025 Annual Meeting of Shareholders | i |
|---|---|
| Proxy Summary | 1 |
| Proposal 1Election of Directors | 7 |
| Corporate Governance | 15 |
| Our Continuing Commitment to Sound Corporate Governance | 15 |
| Governance Best Practices | 15 |
| Code of Conduct | 15 |
| Securities Trading Policy | 16 |
| Board Leadership Structure | 16 |
| Board Self-Evaluation | 16 |
| Overview of the Self-Evaluation Process | 16 |
| Board Committees | 17 |
| Director Independence | 19 |
| The Board’s Role | 19 |
| Risk Management Oversight | 20 |
| Succession Planning Oversight | 22 |
| Corporate Responsibility Oversight | 23 |
| Stakeholder Engagement and Responsiveness | 23 |
| Compensation of Directors | 24 |
| Pay Structure | 24 |
| Equity-Based Compensation | 24 |
| Nonqualified Deferred Compensation | 24 |
| 2024 Director Compensation | 25 |
| Executive Officer Biographies | 26 |
| Stock Ownership | 27 |
| Stock Ownership Requirements | 27 |
| Beneficial Stock Ownership of Directors and NEOs | 28 |
| Certain Beneficial Owners | 29 |
| Proposal 2Advisory Vote to Approve Executive Compensation | 30 |
|---|---|
| Compensation Discussion and Analysis | 31 |
| 2024 Named Executive Officers | 31 |
| Executive Summary | 32 |
| How We Make Pay Decisions and Assess Our Programs | 35 |
| 2024 Principal Elements of Compensation | 38 |
| 2024 CEO Pay Decisions | 43 |
| 2024 Pay Decisions for Other NEOs | 44 |
| Other Compensation Elements | 46 |
| Other Executive Compensation Policies and Practices | 48 |
| Report of the Compensation & Human Resources Committee | 49 |
| Executive Compensation | 50 |
| CEO Pay Ratio | 60 |
| Pay Versus Performance Disclosure | 61 |
| Audit Committee Report | 64 |
| Proposal 3Appoint Deloitte & Touche LLP to Serve as Independent Auditor for 2025 | 65 |
| Proposal 4Approve an Amendment to the Certificate of Incorporation to Eliminate Supermajority Requirements | 67 |
| Proposal 5Shareholder Proposal: Simple Majority Voting | 69 |
| Frequently Asked Questions About the Annual Meeting | 71 |
| Appendix AReconciliation of GAAP Measures to Corresponding Non-GAAP Measures | 79 |
| Appendix BApprove an Amendment to the Certificate of Incorporation to Eliminate Supermajority Requirements | 85 |
Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be held on May 13, 2025. This Notice of the 2025 Annual Meeting of Shareholders and Proxy Statement, as well as the Company’s 2024 Annual Report, are available free of charge atwww.proxyvote.com. References in either document to our website are for the convenience of readers, and information available at or through our website is not a part of, nor is it incorporated by reference in, the Proxy Statement or the 2024 Annual Report.
The Board of Directors of Group 1 (the “Board”) is soliciting proxies to be voted at our 2025 Annual Meeting of Shareholders on May 13, 2025, and at any postponed or reconvened meeting. We expect that the proxy materials or a notice of internet availability will be mailed and made available to shareholders beginning on or about April 4, 2025. At the meeting, votes will be taken on the matters listed in the Notice of 2025 Annual Meeting of Shareholders.
| ii | GROUP 1 AUTOMOTIVE 2025 PROXY STATEMENT |
|---|
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.