Avis Budget (CAR) EVP exercises RSUs as shares withheld for tax

Q: Were any Avis Budget Group (CAR) shares sold by Edward P. Linnen in this Form 4?

No open-market sales were reported. Instead, 172 Common Stock shares were withheld for tax obligations related to the vesting of restricted stock units, a standard mechanism where the company retains shares to satisfy tax liabilities.

Q: Does this Avis Budget Group (CAR) Form 4 indicate any remaining derivative equity awards for Edward P. Linnen?

The filing’s derivative section shows no remaining derivative positions after the reported conversions, meaning the restricted stock units and related dividend equivalent units reflected here were fully converted into Common Stock as of the vesting date.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Avis Budget Group EVP and Chief HR Officer Edward P. Linnen reported routine equity compensation activity. On March 9, 2026, restricted stock units and related dividend equivalent units converted into 547 shares of Common Stock as they vested. To cover taxes, 172 shares were withheld by the company rather than sold on the open market. After these transactions, Linnen holds 45,572 Common Stock shares directly and 3,496 shares indirectly through a 401(k) plan, reflecting a modest net increase in his owned stock.

Insider Trade Summary

547 shares exercised/converted

Mixed 5 txns

Insider Linnen Edward P

Role EVP, Chief HR Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	519	$0.00	--
Exercise	Dividend Equivalent Units	28	$0.00	--
Exercise	Common Stock	547	$0.00	--
Tax Withholding	Common Stock	172	$95.89	$16K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Dividend Equivalent Units — 0 shares (Direct); Common Stock — 45,744 shares (Direct); Common Stock — 3,496 shares (Indirect, By 401(k) plan)

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.

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Form 4 Insider Transactions: What Each Field Means →

03/11/2026 - 05:18 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^*

Linnen Edward P

(Last)

(First)

(Middle)

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, Chief HR Officer

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		547	A	$0⁽¹⁾	45,744	D
Common Stock	03/09/2026		F⁽²⁾		172	D	$95.89	45,572	D
Common Stock								3,496	I	By 401(k) plan

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			519	⁽³⁾	⁽⁴⁾	Common Stock	519	$0	0	D
Dividend Equivalent Units	$0⁽¹⁾	03/09/2026		M			28	⁽⁵⁾	⁽⁴⁾	Common Stock	28	$0	0	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.

Remarks:

	/s/ Jean M. Sera, by Power of Attorney for Edward P. Linnen	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 Group (CAR) report for Edward P. Linnen?

Avis Budget Group reported that EVP and Chief HR Officer Edward P. Linnen had restricted stock units and dividend equivalent units vest into 547 Common Stock shares on March 9, 2026, reflecting routine equity compensation rather than an open-market share purchase.

Were any Avis Budget Group (CAR) shares sold by Edward P. Linnen in this Form 4?

No open-market sales were reported. Instead, 172 Common Stock shares were withheld for tax obligations related to the vesting of restricted stock units, a standard mechanism where the company retains shares to satisfy tax liabilities.

How many Avis Budget Group (CAR) shares does Edward P. Linnen hold after the reported transactions?

Following the March 9, 2026 equity vesting and tax withholding, Edward P. Linnen directly owns 45,572 shares of Common Stock and indirectly holds an additional 3,496 shares through a 401(k) plan, according to the Form 4 holdings disclosure.

What are restricted stock units and dividend equivalent units at Avis Budget Group (CAR)?

Restricted stock units and dividend equivalent units are equity awards that automatically convert into Common Stock on a one-to-one basis when they vest. The filing notes these units vest in three equal installments on March 9, 2024, 2025 and 2026.

Does this Avis Budget Group (CAR) Form 4 indicate any remaining derivative equity awards for Edward P. Linnen?

The filing’s derivative section shows no remaining derivative positions after the reported conversions, meaning the restricted stock units and related dividend equivalent units reflected here were fully converted into Common Stock as of the vesting date.