SEC Form 4 · accession 0000723612-16-000212
AVIS BUDGET GROUP, INC. · CAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Larry D De Shon
Officer — CEO and COO · Director
Period of report
Jan 21, 2016
Accepted (ET)
Jan 25, 2016 · 7:21 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 21, 2016 | M | 3,269 | $0.00 | A | 164,802 | D | |
| Common Stock | Jan 21, 2016 | F | 1,353 | $25.27 | D | 163,449 | D | |
| Common StockF1 | Jan 22, 2016 | M | 16,389 | $0.00 | A | 179,838 | D | |
| Common Stock | Jan 22, 2016 | F | 5,958 | $26.08 | D | 173,880 | D | |
| Common StockF1 | Jan 22, 2016 | M | 4,860 | $0.00 | A | 178,740 | D | |
| Common Stock | Jan 22, 2016 | F | 1,740 | $26.08 | D | 177,000 | D | |
| Common StockF1 | Jan 22, 2016 | M | 12,151 | $0.00 | A | 189,151 | D | |
| Common Stock | Jan 22, 2016 | F | 4,417 | $26.08 | D | 184,734 | D | |
| Common StockF1 | Jan 23, 2016 | M | 9,434 | $0.00 | A | 194,168 | D | |
| Common Stock | Jan 23, 2016 | F | 4,549 | $26.08 | D | 189,619 | 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,F7,F8 | $0.00 | Jan 21, 2016 | M | 3,269 | D | — | — | Common Stock | 3,269 | 6,540 | D |
| Performance Based Restricted Stock UnitsF1,F9,F8 | $0.00 | Jan 22, 2016 | M | 16,389 | D | — | — | Common Stock | 16,389 | 0 | D |
| Restricted Stock UnitsF1,F10,F8 | $0.00 | Jan 22, 2016 | M | 4,860 | D | — | — | Common Stock | 4,860 | 4,861 | D |
| Restricted Stock UnitsF1,F11,F8 | $0.00 | Jan 22, 2016 | M | 12,151 | D | Jan 22, 2016 | — | Common Stock | 12,151 | 0 | D |
| Restricted Stock UnitsF1,F12,F8 | $0.00 | Jan 23, 2016 | M | 9,434 | D | — | — | Common Stock | 9,434 | 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.
- F10Original grant was awarded in 2014 and vests in three equal installments on January 22, 2015, 2016 and 2017.
- F11Original grant was awarded in 2014.
- F12Original grant was awarded in 2013 and vested in three equal installments on January 23, 2014, 2015 and 2016.
- F2Represents tax withholdings in connection with the vesting of 3,269 restricted stock units.
- F3Represents tax withholdings in connection with the vesting of 16,389 restricted stock units.
- F4Represents tax withholdings in connection with the vesting of 4,860 restricted stock units.
- F5Represents tax withholdings in connection with the vesting of 12,151 shares of restricted stock units.
- F6Represents tax withholdings in connection with the vesting of 9,434 shares of restricted stock units.
- F7Original grant was awarded in 2015 and vests in three equal installments on January 21, 2016, 2017 and 2018.
- F8Expiration date not applicable.
- F9Original grant was awarded in 2014 and vested on January 22, 2016 based on the Company's attainment of pre-established financial performance goals.