Avis Budget SEC Filings

Avis Budget Group, Inc. filed a Form 8-K to furnish a court-ordered notice to shareholders about the proposed voluntary dismissal of two shareholder derivative actions in federal court in New Jersey. The notice explains that, unless another shareholder intervenes, the cases will be dismissed without prejudice.

Any Avis shareholder who owns common stock and wishes to pursue the claims or oppose dismissal may move to intervene in either action. Motions to intervene must be filed with the District Court for the District of New Jersey by April 13, 2026, and must follow the requirements of Federal Rule of Civil Procedure 24.

Pentwater Capital Management LP, as adviser to certain Pentwater Funds, reported a series of indirect derivatives and stock transactions in Avis Budget Group, Inc. common stock. The funds bought 425,000 shares of common stock at a price of $94.2590 per share and entered into additional call option positions while selling corresponding put options in open-market transactions on February 20–24, 2026. The funds also exercised various in-the-money put options and related derivative positions to acquire additional common shares and adjusted their exposure through cash-settled total return swap agreements. The filing notes the swap agreements provide economic exposure to underlying shares but no power to vote or dispose of those referenced shares, and the reporting persons disclaim beneficial ownership beyond any pecuniary interest.

Pentwater Capital Management LP and Matthew Halbower filed an initial ownership report for Avis Budget Group, Inc., describing indirect positions held by certain Pentwater funds. The filing lists put options described as a right to sell and separate put and call options described as obligations to buy or sell Avis Budget common stock. It also discloses multiple cash-settled total return swaps referencing various share amounts, alongside 3,562,100 shares of common stock held indirectly. The cash-settled swaps give the funds economic results comparable to share ownership but, according to the disclosure, do not provide power to vote or dispose of the referenced shares. The reporting persons and the funds each disclaim beneficial ownership except to the extent of any pecuniary interest.

Avis Budget Group director Bernardo Hees reported an equity award. On February 20, 2026, an entity associated with him acquired 2,592 restricted stock units of Avis Budget Group common stock at a reference price of $96.47 per share as a grant under the non‑employee director compensation program.

The award consists of restricted stock units that convert into common shares on a one‑for‑one basis and will fully vest on the one‑year anniversary of the grant date. Following this award, entities linked to Hees, including the Bernardo Vieira Hees Revocable Trust and BHJH Master Trust LLC, together hold 119,113 shares indirectly. A separate line reflects 3,713 shares indirectly held through a nonqualified deferred compensation plan.

Avis Budget Group director Lynn Krominga reported mixed equity activity on February 20, 2026. She sold 1,950 shares of common stock in an open-market transaction at $91.54 per share.

On the same date, she received a grant of 1,762 restricted stock units valued at $96.47 per unit under the non-employee director compensation program. These units will fully vest on the one-year anniversary of the grant and convert into common stock one-for-one. She also holds 28,404 shares indirectly through an NQ Deferred Compensation Plan.

AVIS BUDGET GROUP, INC. director Glenn Lurie reported an equity grant under the company’s non-employee director compensation program. He acquired 1,555 restricted stock units of common stock on February 20, 2026 at a reference price of $96.47 per share. These units convert into an equal number of common shares when they vest and are scheduled to fully vest one year after the grant date. Lurie also reports 16,054 common shares held indirectly through an NQ Deferred Compensation Plan, reflecting additional equity exposure tied to his board role.

Avis Budget Group director Anu Hariharan reported an equity award of the company’s stock. On the reported date, she acquired 1,373 restricted stock units as part of the non-employee director compensation program, valued at $96.47 per unit. These units will vest in full on the one-year anniversary of the grant date and then automatically convert into an equal number of common shares. Following the award, she held 1,373 shares directly, with an additional 3,990 shares reported as indirect holdings through a nonqualified deferred compensation plan.

Avis Budget Group describes a large, globally diversified mobility business built around the Avis, Budget, Zipcar, Payless and other brands. In 2025, the company completed approximately 38 million rental transactions and generated total revenues of about $11.7 billion from a global rental fleet averaging roughly 684,000 vehicles.

The business spans about 10,000 locations in around 180 countries, organized into Americas and International segments, and includes car and truck rental, car sharing, and high‑margin license royalties. As of December 31 2025, the company employed roughly 25,000 people worldwide, with about 7,500 in its International segment.

Management highlights a 2026 strategy focused on operational efficiency, expanded analytics, digital and app‑based customer experiences, and disciplined technology investment. The report also outlines key risks, including intense industry competition, fleet cost and residual value swings, travel demand cycles, geopolitical uncertainty, cyber and regulatory exposure, and the challenges and opportunities tied to vehicle electrification and new mobility models.