SEC Form 4 · accession 0000723612-15-000010
AVIS BUDGET GROUP, INC. · CAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Joseph A. Ferraro
Officer — President, Americas
Period of report
Jan 21, 2015
Accepted (ET)
Jan 23, 2015 · 5:24 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 | Jan 22, 2015 | M | 2,835 | $0.00 | A | 12,499 | D | |
| Common Stock | Jan 22, 2015 | F | 1,107 | $62.93 | D | 11,392 | D | |
| Common Stock | holding | — | — | — | 2,476 | I | By 401(k) |
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,F3,F4 | $0.00 | Jan 21, 2015 | A | 16,348 | A | — | — | Common Stock | 16,348 | 16,348 | D |
| Performance Based Restricted Stock UnitsF1,F5,F4 | $0.00 | Jan 21, 2015 | A | 24,522 | A | — | — | Common Stock | 24,522 | 24,522 | D |
| Restricted Stock UnitsF1,F6,F4 | $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.
- F2Represents tax withholdings in connection with the vesting of 2,835 shares of restricted stock units.
- F3Units vest in three equal installments on January 21, 2016, 2017 and 2018.
- F4Expiration date not applicable.
- F5Units vest on January 21, 2018 based on the Company's attainment of pre-established financial performance goals.
- F6Grant vests in three equal installments on January 22, 2015, 2016 and 2017.