<SEC-DOCUMENT>0001299933-16-002085.txt : 20160219
<SEC-HEADER>0001299933-16-002085.hdr.sgml : 20160219
<ACCEPTANCE-DATETIME>20160219124822
ACCESSION NUMBER:		0001299933-16-002085
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160217
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160219
DATE AS OF CHANGE:		20160219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GROUP 1 AUTOMOTIVE INC
		CENTRAL INDEX KEY:			0001031203
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
		IRS NUMBER:				760506313
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13461
		FILM NUMBER:		161441110

	BUSINESS ADDRESS:	
		STREET 1:		800 GESSNER
		STREET 2:		SUITE 500
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		713-647-5700

	MAIL ADDRESS:	
		STREET 1:		800 GESSNER
		STREET 2:		SUITE 500
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>htm_53151.htm
<DESCRIPTION>LIVE FILING
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<TITLE> Group 1 Automotive, Inc. (Form: 8-K) </TITLE>
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		UNITED STATES<BR>
	SECURITIES AND EXCHANGE COMMISSION
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	WASHINGTON, D.C. 20549
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	FORM 8-K
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	CURRENT REPORT
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	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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	Date of Report (Date of Earliest Event Reported):
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	February 17, 2016
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	Group 1 Automotive, Inc.
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<BR>__________________________________________<BR>
	(Exact name of registrant as specified in its charter)
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	Delaware
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	1-13461
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	76-0506313
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_____________________<BR>
	(State or other jurisdiction
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_____________<BR>
	(Commission
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______________<BR>
	(I.R.S. Employer
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	of incorporation)
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	File Number)
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	Identification No.)
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	800 Gessner, Suite 500, Houston, Texas
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	77024
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_________________________________<BR>
	(Address of principal executive offices)
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	&nbsp;
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___________<BR>
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	713-647-5700
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	Not Applicable
<BR>______________________________________________<BR>
	Former name or former address, if changed since last report
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	&nbsp;
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Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:</FONT>
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[&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
[&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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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.
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5.02(e) - Group 1 Automotive, Inc. 2016 Short Term Incentive Plan<br><br>On February 17, 2016, the Compensation Committee of the Board established the objectives for the Company's 2016 Short Term Incentive Plan (the "Plan") payable in 2016 for executive officers of the Company.  Incentive compensation will be based upon both financial and mission-based goals.  57%-60% of the incentive award will be financial-based (EPS target) and 40%-43% of the incentive award will be based on mission-based goals established at the beginning of the year.  The mission-based and financial portions of the bonus can be awarded independently so that achievement of one is not predicated on the achievement of the other, however, the mission-based portion of the bonus will only be paid if the Company achieves an EPS of at least $6.50.  Under the Plan, assuming all mission-based goals were attained, combined with the financial-based portion of the Plan, the bonus payout as a percentage of each officer's base salary at January 1, 2016, is as follows:<br><br>Earl J. Hesterberg - Threshold Performance - 67% ($733,333); Target Performance - 83% ($916,666); and Maximum Performance - 125% ($1,375,000).<br><br>John C. Rickel - Threshold Performance - 67% ($389,000); Target Performance - 83% ($486,250); and Maximum Performance - 115% ($671,025).<br><br>Frank Grese, Jr. - Threshold Performance - 67% ($360,000); Target Performance - 83% ($450,000); and Maximum Performance - 115% ($621,000).<br><br>Darryl M. Burman - Threshold Performance - 40% ($176,120); Target Performance - 50% ($220,150); and Maximum Performance - 75% ($330,225).<br><br>Peter C. DeLongchamps &#x2013; Threshold Performance - 40% ($182,520); Target Performance - 50% ($228,150); and Maximum Performance - 75% ($342,225).<br><br>A copy of the 2016 Short Term Incentive Plan is attached hereto as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.<br><br>
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	Item 9.01 Financial Statements and Exhibits.
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10.1  Group 1 Automotive, Inc. 2016 Short Term Incentive Plan<br><br>
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	SIGNATURES
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	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 hereunto duly authorized.
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	Group 1 Automotive, Inc.
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<I>
	February 19, 2016
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	By:
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	/s/ Darryl M. Burman
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	Name: Darryl M. Burman
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	Title: Vice President
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	Exhibit&nbsp;Index
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	Exhibit No.
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	10.1
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10.1  Group 1 Automotive, Inc. 2016 Short Term Incentive Plan
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<TYPE>EX-10.1
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<P align="right" style="font-size: 10pt"><FONT style="font-size: 10pt"><U><B>Exhibit&nbsp;10.1</B></U></FONT>



<P align="center" style="font-size: 10pt"><FONT style="font-size: 14pt"><B>2016 Short Term Incentive Plan Guidelines</B></FONT>




<P align="left" style="margin-left:3%; font-size: 14pt"><FONT style="font-size: 11pt">Each year the Compensation Committee of the Board (&#147;the Committee&#148;) will approve the
employees of Group 1 who are eligible for participation in the Short Term Incentive Plan (&#147;the
Plan&#148;) for the year.
</FONT>


<P align="left" style="margin-left:3%; font-size: 11pt">Incentive compensation levels of the Plan for each individual will be stated as a percentage
of the participating employee&#146;s base compensation in effect when the Plan is approved by the
Committee.



<P align="left" style="margin-left:3%; font-size: 11pt">For Vice Presidents and above, incentive compensation levels of the Plan will be based upon
both financial-based and mission-based goals for the Plan year as established by the
Committee.


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

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    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#150; Up to 60% of the incentive award will be based on an established financial goal
(EPS target). The EPS target will equate to the Company&#146;s adjusted EPS as disclosed in
its fourth quarter earnings release as filed with the Securities and Exchange
Commission.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#150; Up to 50% of the incentive award will be based on mission-based goals
established at the beginning of each year. The mission-based bonus will only be funded
if the Company achieves a minimum EPS of $6.50.</TD>
</TR>

</TABLE>


<P>
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 11pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="1%" nowrap align="right">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD>&#150; The mission-based and financial-based portions of the bonus can be awarded
independently so that achievement of one is not predicated on the achievement of the
other.</TD>
</TR>

</TABLE>



<P align="left" style="margin-left:3%; font-size: 11pt">For Employees hired during a Plan year, the Committee will have complete discretion as to the
extent of participation in the Plan, if any, by the new hire.



<P align="left" style="margin-left:3%; font-size: 11pt">Employees who resign their positions with Group 1 will <U>not</U> be entitled to participate
in the Plan for the year in which the resignation occurs.



<P align="left" style="margin-left:3%; font-size: 11pt">Employees who resign their positions with Group 1 <U>after</U> the end of a Plan year, but
before the actual payment of the incentive compensation amounts will be entitled to payment
for the Plan year for which they were employed.



<P align="left" style="margin-left:3%; font-size: 11pt">Incentive Compensation earned for the Plan year will be paid after completion of the Company&#146;s
audit and announcement of earnings for that year.



<P align="left" style="margin-left:3%; font-size: 11pt">In the event of a material restatement of the Company&#146;s financial statement due to an error,
the Committee may, in its discretion, either make additional payment to or seek to recover the
cash amount by which the individual employee&#146;s bonus is affected based on the restated
financial results.



<P align="left" style="margin-left:3%; font-size: 11pt">The Committee has sole authority to administer, modify or change the Plan, including but not
limited to, adjusting actual performance criteria for Plan purposes for extraordinary or
unusual items included in actual operating results, or when the company fails to meet
financial objectives</FONT><FONT style="font-size: 12pt">.
</FONT>


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