AVIS BUDGET GROUP (CAR) CEO reports RSU vesting and tax-share withholding

Rhea-AI Filing Summary

AVIS BUDGET GROUP, INC. Chief Executive Officer Brian J. Choi reported the vesting and automatic conversion of 9,977 restricted stock units into Common Stock on March 12, 2026. These units convert to shares on a one-to-one basis when they vest.

In connection with this vesting, 4,756 Common Shares were delivered back as tax withholdings at a price of $99.56 per share, a non-market disposition for tax liabilities rather than an open-market sale. After these transactions, Choi directly holds 116,399 Common Shares and indirectly holds 1,735 Common Shares through an IRA.

Insider Trade Summary

9,977 shares exercised/converted

Mixed 4 txns

Insider Choi Brian J

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	9,977	$0.00	--
Exercise	Common Stock	9,977	$0.00	--
Tax Withholding	Common Stock	4,756	$99.56	$474K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 19,956 shares (Direct); Common Stock — 121,155 shares (Direct); Common Stock — 1,735 shares (Indirect, By IRA)

Footnotes (1)

1. Represents restricted stock units which automatically convert to Common Stock upon the vesting 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 12, 2026, 2027 and 2028. Expiration date not applicable.

Form 4 Insider Transactions: What Each Field Means →

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

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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^*

Choi Brian J

(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)
	Chief Executive Officer

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		9,977	A	$0(1)	121,155	D
Common Stock	03/12/2026		F(2)		4,756	D	$99.56	116,399	D
Common Stock								1,735	I	By IRA

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			9,977	(3)	(4)	Common Stock	9,977	$0	19,956	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:

	/s/ Jean M. Sera by Power of Attorney for Brian J. Choi	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.

FAQ

What did CAR CEO Brian J. Choi report in this Form 4 filing?

Brian J. Choi reported the vesting and conversion of 9,977 restricted stock units into Common Stock on March 12, 2026. These units automatically converted one-for-one into shares as part of his equity compensation package.

Were any AVIS BUDGET GROUP (CAR) shares sold on the open market?

No open-market sale is reported. Instead, 4,756 Common Shares were used to cover tax withholdings at $99.56 per share, which is a non-market disposition to satisfy tax obligations tied to vesting restricted stock units.

How many AVIS BUDGET GROUP (CAR) shares does the CEO hold after these transactions?

Following the reported transactions, Brian J. Choi directly owns 116,399 Common Shares. He also has an indirect holding of 1,735 Common Shares through an IRA, reflecting both direct and retirement-related ownership positions.

What are restricted stock units in the context of AVIS BUDGET GROUP (CAR)?

For AVIS BUDGET GROUP, the filing notes that restricted stock units automatically convert to Common Stock upon vesting on a one-to-one basis. They are a form of equity compensation that becomes actual shares once vesting conditions are met.

Does the Form 4 mention a vesting schedule for AVIS BUDGET GROUP (CAR) units?

Yes. A footnote explains that certain units vest in three equal installments on March 12, 2026, 2027 and 2028. This schedule outlines when portions of the award become earned and convertible into Common Stock.

How many restricted stock units did the AVIS BUDGET GROUP (CAR) CEO exercise?

The CEO exercised or converted 9,977 restricted stock units into Common Stock. The filing clarifies that these units convert automatically into shares when they vest, with the same number of shares as units held.