Avis Budget SVP exercises RSUs, covers tax in stock

Avis Budget Group senior executive Jean M. Sera reported compensation-related equity activity involving restricted stock units and common stock.

Rhea-AI Filing Summary

Avis Budget Group senior executive Jean M. Sera reported compensation-related equity activity involving restricted stock units and common stock. Restricted stock units automatically converted into 1,351 shares of common stock, increasing her direct holdings to 37,710 shares before tax withholding.

To cover tax obligations from the vesting, 627 common shares were withheld at $99.56 per share, leaving her with 37,083 shares of common stock held directly after the transactions. Footnotes state the units vest in three equal installments on March 12, 2026, 2027 and 2028.

Insider Trade Summary

1,351 shares exercised/converted

Exercise 3 txns

Insider Sera Jean M

Role SVP, GC, CCO & Corp. Sec.

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,351	$0.00	$0.00
Exercise	Common Stock	1,351	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	627	$99.56	$62K

Holdings After Transaction: Restricted Stock Units — 2,704 contracts (Direct); Common Stock — 37,083 shares (Direct)

Footnotes (4)

1. F1. Represents restricted stock units which automatically convert to Common Stock upon the vesting of such units on a one-to-one basis.
2. F2. Represents tax withholdings in connection with the vesting of restricted stock units.
3. F3. Units vest in three equal installments on March 12, 2026, 2027 and 2028.
4. F4. Expiration date not applicable.

FAQ

What insider transaction did Avis Budget Group (CAR) report for Jean M. Sera?

Avis Budget Group reported that SVP and General Counsel Jean M. Sera had restricted stock units convert into 1,351 shares of common stock. These shares arose from equity compensation vesting, not an open-market purchase, and are part of her ongoing incentive awards.

How many Avis Budget Group (CAR) shares does Jean M. Sera hold after this Form 4?

After the reported transactions, Jean M. Sera directly holds 37,083 shares of Avis Budget Group common stock. This reflects 1,351 shares from restricted stock unit conversion, offset by 627 shares withheld to satisfy tax obligations tied to the vesting event.

Were any Avis Budget Group (CAR) shares sold on the market in this Form 4?

No open-market sale is indicated. The 627 Avis Budget Group common shares reported with code F were withheld at $99.56 per share to cover tax liabilities from vesting restricted stock units, a standard non-discretionary mechanism rather than a market-driven stock sale.

What do the restricted stock unit footnotes say in the Avis Budget Group (CAR) filing?

The footnotes state that the restricted stock units automatically convert to common stock on a one-to-one basis upon vesting. They also specify that the units vest in three equal installments on March 12, 2026, March 12, 2027, and March 12, 2028, defining the vesting schedule.

What is the significance of transaction code F in the Avis Budget Group (CAR) Form 4?

Transaction code F represents payment of tax liability by delivering securities. In this Form 4, 627 Avis Budget Group common shares were withheld at $99.56 per share, covering taxes on vested restricted stock units rather than indicating a discretionary sale into the open market.

How many restricted stock units were involved in the Avis Budget Group (CAR) Form 4?

The Form 4 shows 1,351 restricted stock units converting into 1,351 shares of Avis Budget Group common stock. These units are part of equity compensation that automatically settles in stock upon vesting, consistent with the one-to-one conversion ratio described in the footnotes.

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Accepted by SEC EDGAR 03/16/2026 - 04:55 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sera Jean M

(Last) (First) (Middle)

379 INTERPACE PARKWAY

(Street)

PARSIPPANY NJ 07054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AVIS BUDGET GROUP, INC. [ CAR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, GC, CCO & Corp. Sec.

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/12/2026		M		1,351	A	$0(1)	37,710	D
Common Stock	03/12/2026		F(2)		627	D	$99.56	37,083	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	$0(1)	03/12/2026		M			1,351	(3)	(4)	Common Stock	1,351	$0	2,704	D

Explanation of Responses:

1. Represents restricted stock units which automatically convert to Common Stock upon the vesting of such units on a one-to-one basis.

2. Represents tax withholdings in connection with the vesting of restricted stock units.

3. Units vest in three equal installments on March 12, 2026, 2027 and 2028.

4. Expiration date not applicable.

Remarks:

	Jean M. Sera	03/16/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.