SEC Form 4 · accession 0000723612-15-000033
AVIS BUDGET GROUP, INC. · CAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael K Tucker
Officer — EVP and General Counsel
Period of report
Jan 23, 2015
Accepted (ET)
Jan 27, 2015 · 5:20 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 23, 2015 | M | 5,503 | $0.00 | A | 48,442 | D | |
| Common Stock | Jan 23, 2015 | F | 1,671 | $61.27 | D | 46,771 | D | |
| Common StockF1 | Jan 25, 2015 | M | 8,102 | $0.00 | A | 54,873 | D | |
| Common Stock | Jan 25, 2015 | F | 2,465 | $61.27 | D | 52,408 | D | |
| Common StockF1 | Jan 25, 2015 | M | 10,417 | $0.00 | A | 62,825 | D | |
| Common Stock | Jan 25, 2015 | F | 4,634 | $61.27 | D | 58,191 | 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 23, 2015 | M | 5,503 | D | — | — | Common Stock | 5,503 | 5,503 | D |
| Restricted Stock UnitsF1,F7,F6 | $0.00 | Jan 25, 2015 | M | 8,102 | D | — | — | Common Stock | 8,102 | 0 | D |
| Performance Based Restricted Stock UnitsF1,F8,F6 | $0.00 | Jan 25, 2015 | M | 10,417 | D | — | — | Common Stock | 10,417 | 0 | 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 5,503 shares of restricted stock units.
- F3Represents tax withholdings in connection with the vesting of 8,102 shares of restricted stock units.
- F4Represents tax withholdings in connection with the vesting of 10,417 shares of restricted stock units.
- F5Grant vests in three equal installments on January 23, 2014, 2015 and 2016.
- F6Expiration date not applicable.
- F7Original grant vests in three equal installments on January 25, 2013, 2014 and 2015.
- F8Between 50% and 100% of the units will vest on January 25, 2015, if the average per-share closing price of the Company's common stock equals or exceeds a minimum threshold price of $17.64 and a maximum target price of $19.69 over any consecutive 30 trading days between the grant date and the third anniversary of the date of grant. The actual number of units that vest, based on the average per-share closing price between the threshold and target prices shall be determined on a pro rata basis using straight line interpolation.