Twitch Film reports that Michael Bay has tapped Nicola Peltz (The Last Airbender) and Brenton Thwaites (Blue Lagoon) as the two leads in Transformers 4. If true Peltz would play the around 18 year old daughter to Mark Wahlberg's character and Thwaites as her 20-something Texan race car driving boyfriend (useful skill for an action movie involving cars). The pair were on the short list of actors that Bay was reporting to be screen testing.
Update: MichaelBay.com has posted a quick comment saying "Actor announcement on some web sites last night about Transformer cast joining Mark are completely false." No further info provided. The initial short list report was never verified so unable to say if means the actors are out of the running or never in it to begin with. Bit of a shame as get feeling Peltz is untapped potential.