SEC Form 4 · accession 0000723612-17-000051
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
Mar 1, 2017
Accepted (ET)
Mar 3, 2017 · 4:56 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 | Mar 1, 2017 | M | 3,973 | $0.00 | A | 87,892 | D | |
| Common Stock | Mar 1, 2017 | F | 2,218 | $34.41 | D | 85,674 | 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 | Mar 1, 2017 | M | 3,973 | D | — | — | Common Stock | 3,973 | 0 | D |
| Performance Based Restricted Stock UnitsF1,F5,F4 | $0.00 | Mar 1, 2017 | A | 5,231 | A | — | — | Common Stock | 5,231 | 5,231 | D |
| Restricted Stock UnitsF1,F6,F4 | $0.00 | Mar 1, 2017 | A | 12,206 | A | — | — | Common Stock | 12,206 | 12,206 | 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 restricted stock units.
- F3Units vested on March 1, 2017 based on the Company's attainment of pre-established financial performance goals.
- F4Expiration date not applicable.
- F5Units vest on March 1, 2020 based on the Company's attainment of pre-established performance goals. The number of units which could vest range from zero to of 200% of the target number of units reported above depending on achievement of such performance goals.
- F6Units vest in three equal installments on March 1, 2018, 2019 and 2020.