SEC Form 4 · accession 0000723612-16-000213
AVIS BUDGET GROUP, INC. · CAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
W Scott Deaver
Officer — EVP & CMO
Period of report
Jan 21, 2016
Accepted (ET)
Jan 25, 2016 · 7:22 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 | 1,907 | $0.00 | A | 64,454 | D | |
| Common Stock | Jan 21, 2016 | F | 807 | $25.27 | D | 63,647 | D | |
| Common StockF1 | Jan 22, 2016 | M | 2,835 | $0.00 | A | 66,482 | D | |
| Common Stock | Jan 22, 2016 | F | 1,139 | $26.08 | D | 65,343 | D | |
| Common StockF1 | Jan 22, 2016 | M | 2,036 | $0.00 | A | 67,379 | D | |
| Common Stock | Jan 22, 2016 | F | 753 | $26.08 | D | 66,626 | D | |
| Common StockF1 | Jan 22, 2016 | M | 3,038 | $0.00 | A | 69,664 | D | |
| Common Stock | Jan 22, 2016 | F | 1,104 | $26.08 | D | 68,560 | D | |
| Common StockF1 | Jan 23, 2016 | M | 5,503 | $0.00 | A | 74,063 | D | |
| Common Stock | Jan 23, 2016 | F | 2,035 | $26.08 | D | 72,028 | 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 | 1,907 | D | — | — | Common Stock | 1,907 | 3,815 | D |
| Restricted Stock UnitsF1,F9,F8 | $0.00 | Jan 22, 2016 | M | 2,835 | D | — | — | Common Stock | 2,835 | 2,835 | D |
| Restricted Stock UnitsF1,F10,F8 | $0.00 | Jan 22, 2016 | M | 2,036 | D | — | — | Common Stock | 2,036 | 0 | D |
| Performance Based Restricted Stock UnitsF1,F11,F8 | $0.00 | Jan 22, 2016 | M | 3,038 | D | — | — | Common Stock | 3,038 | 0 | D |
| Restricted Stock UnitsF1,F12,F8 | $0.00 | Jan 23, 2016 | M | 5,503 | D | — | — | Common Stock | 5,503 | 0 | D |
Explanation of responses
- F1Represents restricted stock units which automatically converted to Common Stock upon the vesting of such units on a one-to-one basis.
- F10Original grant was awarded in 2014 and one-third of the units vested on the first anniversary of the date of grant and two thirds vested on the second anniversary of the date of grant.
- F11Original grant was awarded in 2014 and vested on January 22, 2016, based on the Company's attainment of pre-established financial performance goals.
- 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 1,907 restricted stock units.
- F3Represents tax withholdings in connection with the vesting of 2,835 restricted stock units.
- F4Represents tax withholdings in connection with the vesting of 2,036 restricted stock units.
- F5Represents tax withholdings in connection with the vesting of 3,038 restricted stock units.
- F6Represents tax withholdings in connection with the vesting of 5,503 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 vests in three equal installments on January 22, 2015, 2016 and 2017.