SEC Form 4 · accession 0000723612-16-000232
AVIS BUDGET GROUP, INC. · CAR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ronald L Nelson
Officer — Executive Chairman · Director
Period of report
Jan 28, 2016
Accepted (ET)
Feb 1, 2016 · 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 28, 2016 | M | 86,675 | $0.00 | A | 902,362 | D | |
| Common Stock | Jan 28, 2016 | F | 44,161 | $25.88 | D | 858,201 | D | |
| Common StockF3 | holding | — | — | — | 15,472 | I | By trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 Performance Based Restricted Stock UnitsF1,F4,F5 | $0.00 | Jan 28, 2016 | M | 86,675 | D | — | — | Common Stock | 86,675 | 0 | D |
| Performance Based Restricted Stock UnitsF1,F6,F5 | $0.00 | Jan 28, 2016 | A | 57,960 | A | — | — | Common Stock | 57,960 | 57,960 | D |
| Restricted Stock UnitsF1,F5 | $0.00 | Jan 28, 2016 | A | 38,640 | A | Jan 28, 2017 | — | Common Stock | 38,640 | 38,640 | 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 86,675 restricted stock units.
- F3Securities are held by a family trust. Mr. Nelson's wife is a trustee of the trust. Mr. Nelson disclaims beneficial ownership of the securities held by the trust, and the filing of this report is not an admission that Mr. Nelson is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
- F4100% of the units vested on January 28, 2016 upon the Company's achievement of certain relative total shareholder return performance goals.
- F5Expiration date not applicable.
- F6Units vest on January 28, 2017 based on the Company's attainment of pre-established financial performance goals.