The following information supplements the Notice of 2024 Annual Meeting of Shareholders and Proxy Statement (the “Proxy Statement”) of Lithia Motors, Inc. (the “Company”) filed with the Securities and Exchange Commission on March 12, 2024 in connection with the Company’s 2024 Annual Meeting of Shareholders, scheduled for April 23, 2024 at 8:30 a.m., Pacific Daylight Time (the “Annual Meeting”).
These supplemental proxy materials, which are being made available to shareholders on April 2, 2024, should be read in conjunction with the Proxy Statement. We are providing these supplemental proxy materials in order to provide additional information sought by proxy advisory firm Glass Lewis & Co. (“Glass Lewis”).
While Institutional Shareholder Services raised no issue with our description of the diverse composition of our Board of Directors (“Board”), Glass Lewis has sought additional disclosure. To reiterate the diversity of our Board membership, we confirm that our Board has one ethnically diverse member (representing 11% of our current Board) as defined by Glass Lewis’s proxy voting policies, namely Louis Miramontes.
Dates Referenced Herein and Documents Incorporated by Reference
