SEC Form 4 · accession 0000723612-15-000006
AVIS BUDGET GROUP, INC. · CAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
W Scott Deaver
Officer — EVP, Strategy
Period of report
Jan 21, 2015
Accepted (ET)
Jan 23, 2015 · 5:09 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000723612
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 22, 2015 | M | 1,002 | $0.00 | A | 47,750 | D | |
| Common StockF2 | Jan 22, 2015 | F | 371 | $62.93 | D | 47,379 | D | |
| Common StockF1,F2 | Jan 22, 2015 | M | 2,835 | $0.00 | A | 50,214 | D | |
| Common StockF2 | Jan 22, 2015 | F | 1,105 | $62.93 | D | 49,109 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F5,F6 | $0.00 | Jan 21, 2015 | A | 5,722 | A | — | — | Common Stock | 5,722 | 5,722 | D |
| Performance Based Restricted Stock UnitsF1,F7,F6 | $0.00 | Jan 21, 2015 | A | 3,678 | A | — | — | Common Stock | 3,678 | 3,678 | D |
| Restricted Stock UnitsF1,F8,F6 | $0.00 | Jan 22, 2015 | M | 1,002 | D | — | — | Common Stock | 1,002 | 2,036 | D |
| Restricted Stock UnitsF1,F9,F6 | $0.00 | Jan 22, 2015 | M | 2,835 | D | — | — | Common Stock | 2,835 | 5,670 | D |
Explanation of responses
- F1Represents restricted stock units which automatically convert to Common Stock upon the vesting of such units on a one-to-one basis.
- F2The total amount of securities beneficially owned has been amended to correct an error in previous filings.
- F3Represents tax withholdings in connection with the vesting of 1,002 shares of restricted stock units.
- F4Represents tax withholdings in connection with the vesting of 2,835 shares of restricted stock units.
- F5Units vest in three equal installments on January 21, 2016, 2017 and 2018.
- F6Expiration date not applicable.
- F7Units vest on January 21, 2018 based on the Company's attainment of pre-established financial performance goals.
- F8One-third of the units vest on the first anniversary of the date of grant and two-thirds of the units vest on the second anniversary of the date of grant.
- F9Grant vests in three equal installments on January 22, 2015, 2016 and 2017.