[Form 4] AVIS BUDGET GROUP, INC. Insider Trading Activity

Q: How many Avis Budget (CAR) shares were withheld for taxes in this Form 4?

The Form 4 shows that 239 shares of Avis Budget common stock were withheld at $95.89 per share. This disposition is described as covering tax liabilities associated with the vesting of restricted stock units, rather than an open-market sale by the executive.

Q: Were the Avis Budget (CAR) transactions open-market buys or sells?

The transactions are classified as derivative exercises and a tax-withholding disposition , not open-market buys or sells. Restricted stock units and dividend equivalent units converted into shares, and a portion of those shares was withheld to satisfy tax obligations tied to the vesting event.

Q: What are dividend equivalent units (DEUs) in the Avis Budget (CAR) Form 4?

Dividend equivalent units are described as DEUs that accrue on restricted and performance-based stock units and become exercisable proportionately on a one-to-one basis. They follow the same vesting and settlement terms as the related restricted stock units, ultimately converting into common stock on that schedule.

Q: Over what schedule do the reported Avis Budget (CAR) units vest?

The filing notes that the units vest in three equal installments on March 9, 2024, March 9, 2025, and March 9, 2026. The reported transactions relate to the installment vesting on March 9, 2026, when the remaining portion converted into common shares.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

AVIS BUDGET GROUP, INC. executive Ravi Simhambhatla, EVP and Chief Digital & Information Officer, reported compensation-related equity activity. On March 9, 2026, restricted stock units and related dividend equivalent units automatically converted into 758 shares of common stock on a one-to-one basis.

To cover tax obligations tied to this vesting, 239 shares of common stock were withheld at $95.89 per share, characterized as a tax-withholding disposition rather than an open-market sale. Following these transactions, Simhambhatla directly holds 14,792 shares of common stock, with no remaining derivative units from this vesting tranche shown in the filing.

Insider Trade Summary

758 shares exercised/converted

Mixed 4 txns

Insider Simhambhatla Ravi

Role EVP, CDIO - see remarks

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	719	$0.00	--
Exercise	Dividend Equivalent Units	39	$0.00	--
Exercise	Common Stock	758	$0.00	--
Tax Withholding	Common Stock	239	$95.89	$23K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Dividend Equivalent Units — 913 shares (Direct); Common Stock — 15,031 shares (Direct)

Footnotes (1)

Represents restricted stock units and dividend equivalent units which automatically convert to Common Stock upon the vesting and settlement of such units on a one-to-one basis. Represents tax withholdings in connection with the vesting of restricted stock units. Units vest in three equal installments on March 9, 2024, 2025 and 2026. Expiration date not applicable. Represents dividend equivalent units ("DEUs") accrued on restricted stock units and performance-based restricted stock units which become exercisable proportionately, on a one-on-one basis, subject to the same terms and conditions, including vesting and settlement, as the restricted stock units to which they relate. Number of shares reported in Column 9 reflects the remaining aggregate DEUs associated with restricted stock units at target.

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Form 4 Insider Transactions: What Each Field Means →

03/11/2026 - 05:17 PM

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^*

Simhambhatla Ravi

(Last)

(First)

(Middle)

AVIS BUDGET GROUP, INC.

379 INTERPACE PARKWAY

(Street)

PARSIPPANY

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)
	EVP, CDIO - see remarks

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/09/2026		M		758	A	$0⁽¹⁾	15,031	D
Common Stock	03/09/2026		F⁽²⁾		239	D	$95.89	14,792	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	$0⁽¹⁾	03/09/2026		M			719	⁽³⁾	⁽⁴⁾	Common Stock	719	$0	0	D
Dividend Equivalent Units	$0⁽¹⁾	03/09/2026		M			39	⁽⁵⁾	⁽⁴⁾	Common Stock	39	$0	913	D

Explanation of Responses:

1. Represents restricted stock units and dividend equivalent units which automatically convert to Common Stock upon the vesting and settlement 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 9, 2024, 2025 and 2026.

4. Expiration date not applicable.

5. Represents dividend equivalent units ("DEUs") accrued on restricted stock units and performance-based restricted stock units which become exercisable proportionately, on a one-on-one basis, subject to the same terms and conditions, including vesting and settlement, as the restricted stock units to which they relate. Number of shares reported in Column 9 reflects the remaining aggregate DEUs associated with restricted stock units at target.

Remarks:

EVP, Chief Digital & Innovation Officer

	/s/ Jean M. Sera, by Power of Attorney for Ravi Simhambhatla	03/11/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Avis Budget (CAR) executive Ravi Simhambhatla report?

Ravi Simhambhatla reported the vesting and automatic conversion of restricted stock units and dividend equivalent units into 758 shares of Avis Budget common stock. These equity awards are part of his compensation and converted on a one-to-one basis into common shares on March 9, 2026.

How many Avis Budget (CAR) shares were withheld for taxes in this Form 4?

The Form 4 shows that 239 shares of Avis Budget common stock were withheld at $95.89 per share. This disposition is described as covering tax liabilities associated with the vesting of restricted stock units, rather than an open-market sale by the executive.

How many Avis Budget (CAR) shares does Ravi Simhambhatla hold after the transactions?

After the reported equity vesting and tax withholding, Ravi Simhambhatla directly holds 14,792 shares of Avis Budget common stock. This figure reflects his post-transaction ownership as disclosed in the Form 4’s totals following the March 9, 2026 transactions.

Were the Avis Budget (CAR) transactions open-market buys or sells?

The transactions are classified as derivative exercises and a tax-withholding disposition, not open-market buys or sells. Restricted stock units and dividend equivalent units converted into shares, and a portion of those shares was withheld to satisfy tax obligations tied to the vesting event.

What are dividend equivalent units (DEUs) in the Avis Budget (CAR) Form 4?

Dividend equivalent units are described as DEUs that accrue on restricted and performance-based stock units and become exercisable proportionately on a one-to-one basis. They follow the same vesting and settlement terms as the related restricted stock units, ultimately converting into common stock on that schedule.

Over what schedule do the reported Avis Budget (CAR) units vest?

The filing notes that the units vest in three equal installments on March 9, 2024, March 9, 2025, and March 9, 2026. The reported transactions relate to the installment vesting on March 9, 2026, when the remaining portion converted into common shares.