SEC Form 4 · accession 0000723612-16-000235
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 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 | 9,594 | $0.00 | A | 70,224 | D | |
| Common Stock | Jan 28, 2016 | F | 2,919 | $25.88 | D | 67,305 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Based Restricted Stock UnitsF1,F3,F4 | $0.00 | Jan 28, 2016 | M | 9,594 | D | — | — | Common Stock | 9,594 | 0 | D |
| Performance Based Restricted Stock UnitsF1,F5,F4 | $0.00 | Jan 28, 2016 | A | 6,955 | A | — | — | Common Stock | 6,955 | 6,955 | D |
| Restricted Stock UnitsF1,F6,F4 | $0.00 | Jan 28, 2016 | A | 10,819 | A | — | — | Common Stock | 10,819 | 10,819 | 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 9,594 restricted stock units.
- F3Units vested on January 28, 2016 based on the Company's attainment of pre-established financial performance goals.
- F4Expiration date not applicable.
- F5Units vest on January 28, 2019 based on the Company's attainment of pre-established financial performance goals.
- F6Grant vests in three equal installments on January 28, 2017, 2018 and 2019.