Avis Budget (CAR) CEO Choi reports RSU vesting and share withholding for taxes

Rhea-AI Filing Summary

AVIS BUDGET GROUP, INC. Chief Executive Officer Brian J. Choi reported routine equity compensation activity involving restricted stock units and related tax withholding. On March 13, 2026, 2,947 restricted stock units converted into an equal number of common shares at no cost as part of a vesting schedule. To cover tax obligations on this vesting, 1,444 common shares were withheld at a reference price of $100.71 per share. After these transactions, Choi directly owned 117,902 shares of common stock. The units associated with this award vest in three equal installments on March 13 of 2025, 2026, and 2027.

Insider Trade Summary

2,947 shares exercised/converted

Mixed 3 txns

Insider Choi Brian J

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	2,947	$0.00	--
Grant/Award	Common Stock	2,947	$0.00	--
Tax Withholding	Common Stock	1,444	$100.71	$145K

Holdings After Transaction: Restricted Stock Units — 2,948 shares (Direct); Common Stock — 119,346 shares (Direct)

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 13, 2025, 2026 and 2027. 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

OMB Number:			3235-0287
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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^*

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)
03/13/2026

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	03/13/2026		A		2,947	A	$0(1)	119,346	D
Common Stock	03/13/2026		F(2)		1,444	D	$100.71	117,902	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)	03/13/2026		M			2,947	(3)	(4)	Common Stock	2,947	$0	2,948	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 13, 2025, 2026 and 2027.

4. Expiration date not applicable.

Remarks:

	/s/ Jean M. Sera by Power of Attorney for Brian J. Choi	03/17/2026
	** 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 insider transactions did CAR CEO Brian J. Choi report on this Form 4?

Brian J. Choi reported vesting of 2,947 restricted stock units that converted into common shares at no cost, plus withholding of 1,444 shares to satisfy tax obligations. These actions reflect routine equity compensation rather than open-market buying or selling of Avis Budget Group stock.

How many Avis Budget (CAR) shares does CEO Brian J. Choi hold after this filing?

Following the reported transactions, Brian J. Choi directly owns 117,902 shares of Avis Budget Group common stock. This total reflects the newly vested 2,947 shares from restricted stock units, net of 1,444 shares withheld to cover taxes tied to the March 13, 2026 vesting event.

What happened to the 2,947 restricted stock units reported by CAR’s CEO?

The 2,947 restricted stock units automatically converted into 2,947 shares of Avis Budget Group common stock upon vesting, on a one-to-one basis. This conversion occurred at no cash cost to the CEO and is part of his long-term equity compensation structure with the company.

Why were 1,444 Avis Budget (CAR) shares disposed of in this Form 4?

The 1,444 shares shown as a disposition were withheld to satisfy tax liabilities from the vesting of restricted stock units. This tax-withholding transaction, at a reference price of $100.71 per share, is a standard mechanism and does not represent an open-market sale by the CEO.

What is the vesting schedule for the restricted stock units held by CAR’s CEO?

The reported restricted stock units vest in three equal installments on March 13, 2025, March 13, 2026, and March 13, 2027. Each installment automatically converts into Avis Budget Group common stock on a one-for-one basis when it vests, providing long-term incentive alignment with shareholders.

Does this CAR Form 4 indicate open-market buying or selling by the CEO?

No, the Form 4 shows equity compensation vesting and tax withholding, not open-market trades. Shares were acquired through restricted stock units converting into common stock, while a portion was withheld to cover taxes, a routine administrative step rather than discretionary buying or selling activity.