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ASBURY AUTOMOTIVE GROUP INC

For the period ended Dec 31, 2025. Filed Mar 24, 2026.

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About this filing

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.

Dec 31, 2025 · Filed Mar 24, 2026

ABG$202.65-2.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No. )

þFiled 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))
þDefinitive Proxy Statement
¨Definitive Additional Materials
¨Soliciting Material Pursuant to §240.14a-12

Asbury Automotive Group, 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 the appropriate box):
þNo 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.

(770) 418-8200

March 24, 2026

Dear Stockholders,

On behalf of the Board of Directors and management of Asbury Automotive Group, Inc., we cordially invite you to attend our 2026 Annual Meeting of Stockholders.

As you know, an important aspect of the annual meeting process is the vote by stockholders on corporate business. The matters to be voted on are described in the notice of meeting and the proxy statement. We value your vote and urge you to exercise your rights as a stockholder to vote. Whether or not you plan to attend the meeting, please read the enclosed proxy statement and complete, sign and date the enclosed proxy card and return it as promptly as possible in the accompanying postage paid envelope or vote by telephone or the Internet. This will ensure that your shares are represented at the meeting

Sincerely,

David W. Hult

President, Chief Executive Officer and Director

YOUR VOTE IS IMPORTANT

NOTICE OF THE 2026 ANNUAL MEETING OF STOCKHOLDERS

AND IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS

FOR THE ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON MAY 4, 2026

To Our Stockholders:

The 2026 Annual Meeting of Stockholders of Asbury Automotive Group, Inc. (the “2026 Annual Meeting”) will be held at our corporate headquarters located at 6655 Peachtree Dunwoody Road, Atlanta, GA 30328 on May 4, 2026, at 12:00 p.m., Eastern Time, for the purpose of considering and acting upon the following proposals:

Proposal 1:election of eleven director nominees to hold office until the 2027 Annual Meeting of Stockholders or until their successors are duly elected and qualified;
Proposal 2:approval, on an advisory basis, of the compensation of our named executive officers;
Proposal 3:ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for the year ending December 31, 2026;
Proposal 4:approval to amend our Amended and Restated Certificate of Incorporation (the "Charter") to eliminate supermajority voting requirements;
Proposal 5:stockholder proposal regarding special stockholder meetings; and
Proposal 6:any other matters that may properly come before the 2026 Annual Meeting or any adjournments or postponements of the 2026 Annual Meeting.

Only stockholders of record, as of 5:00 p.m., Eastern Time, on March 18, 2026 (the "Record Date") are entitled to notice of, to attend, and to vote at, the 2026 Annual Meeting and any adjournments or postponements of the 2026 Annual Meeting. A list of these stockholders will be available for inspection by stockholders during normal business hours during the ten-day period immediately prior to the 2026 Annual Meeting at our corporate headquarters located at 6655 Peachtree Dunwoody Road, Atlanta, GA 30328.

Your vote is important. Please vote as promptly as possible using any of the following methods:

Internet:Visit www.ProxyVote.com. You will need the control number included in your proxy card, voter instruction form or notice.
Phone:Call 1-800-690-6903 or the number on your voter instruction form. You will need the control number included in your proxy card, voter instruction form or notice.
Mail:Send your completed and signed proxy card or voter instruction form to the address on your proxy card or voter instruction form.
In Person:Stockholders of record who attend the 2026 Annual Meeting and wish to vote in person will be given a ballot at the meeting. All other stockholders (those whose shares are held in the name of your bank, broker or other nominee) will need to obtain a proxy from the institution that holds your shares indicating that you were the beneficial owner of our common stock as of the Record Date for the 2026 Annual Meeting.

This proxy statement and the Company’s 2025 Annual Report on Form 10-K are available on the Internet atwww.proxyvote.com.

BY ORDER OF THE BOARD OF DIRECTORS,

Dean A. Calloway

Senior Vice President, General Counsel & Secretary

TABLE OF CONTENTS

INFORMATION ABOUT THE MEETING1
SECURITIES OWNED BY MANAGEMENT & CERTAIN BENEFICIAL OWNERS4
Equity Ownership Guidelines6
Policy Regarding Hedging or Pledging of Asbury Stock6
Insider Trading Policy6
Delinquent Section 16(a) Reports6
PROPOSAL 1 - ELECTION OF DIRECTORS7
GOVERNANCE OF THE COMPANY15
Board Leadership Structure15
Independence of Directors15
Committees of the Board16
Code of Business Conduct and Ethics and Corporate Governance Guidelines18
The Board’s Risk Oversight Role18
Corporate Responsibility18
Nomination of Directors19
Service Limitations20
Communications with the Board21
Related Person Transactions21
DIRECTOR COMPENSATION22
Director Fees22
Meeting Attendance22
2025 Director Compensation Table23
EXECUTIVE OFFICERS24
COMPENSATION DISCUSSION & ANALYSIS25
Overview25
Incentive Compensation Programs26
Compensation Philosophy & Guidelines26
Elements of Compensation27
Total Compensation Program Supporting Attainment of Operating & Strategic Imperatives27
Policies and Practices28
The Role of Stockholder Say-on-Pay Votes and Related Considerations29
Independent Compensation Consultant29
Reviewing Executive Compensation29
Additional Considerations in Making Executive Compensation Decisions30
Review of 2025 Total Compensation30
Employment, Severance and Change in Control Arrangements36
Tax Treatment of Certain Compensation36

BLE OF CONTENTS

COMPENSATION & HUMAN RESOURCES COMMITTEE REPORT37
COMPENSATION COMMITTEE INTERLOCKS & INSIDER PARTICIPATION37
EXECUTIVE COMPENSATION38
2025 Summary Compensation Table38
2025 Grants of Plan-Based Awards39
Outstanding Equity Awards at 2025 Fiscal Year-End40
2025 Option Exercises and Stock Vested41
POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL42
CEO PAY RATIO46
PAY VERSUS PERFORMANCE47
SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS50
PROPOSAL 2 - ADVISORY APPROVAL OF NAMED EXECUTIVE OFFICER COMPENSATION51
AUDIT COMMITTEE REPORT52
PROPOSAL 3 - RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM53
Independent Registered Public Accounting Firm Fees53
Audit Committee’s Pre-Approval Policies and Procedures53
PROPOSAL 4 - APPROVAL TO AMEND OUR CHARTER TO ELIMINATE SUPERMAJORITY PROVISIONS54
STOCKHOLDER PROPOSAL56
OTHER MATTERS58
Stockholder Proposals for the 2027 Annual Meeting58
Compliance with Universal Proxy Rules for Director Nominations58
Delivery of Proxy Materials to Households58
Additional Information58
APPENDIX A60
APPENDIX B63

PROXY STATEMENT

This proxy statement is furnished in connection with the solicitation of proxies by Asbury Automotive Group, Inc. (“Asbury”, the “Company”, “we”, “us” or “our”) on behalf of the Board of Directors (the “Board”) for the 2026 Annual Meeting of Stockholders (the "2026 Annual Meeting"), including all adjournments or postponements of the 2026 Annual Meeting. The accompanying Notice of the 2026 Annual Meeting and Important Notice Regarding the Availability of Proxy Materials for the 2026 Annual Meeting to be held on May 4, 2026, this proxy statement and proxy card are first being mailed to stockholders, and made available on the Internet, on or about March 24, 2026. A copy of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 is included with these materials.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.