Avis Budget (CAR) CEO gains stock from RSU vesting and tax withholding

Rhea-AI Filing Summary

Avis Budget Group Chief Executive Officer Brian J. Choi reported routine equity compensation activity involving restricted stock units and related common shares. On March 9, 2026, restricted stock units and dividend equivalent units converted into 1,515 shares of Common Stock, reflecting the vesting and settlement of these awards. Of these shares, 516 shares were withheld by the company at $95.89 per share to cover tax obligations, which is treated as a disposition but not an open-market sale. Following these transactions, Choi directly holds 111,178 shares of Common Stock and indirectly holds 1,735 shares through an IRA. Footnotes explain that the units vest in three equal installments on March 9 of 2024, 2025 and 2026 and that dividend equivalent units track the underlying restricted stock units on a one-to-one basis.

Insights

Equity compensation and insider-transactions analyst

CEO Choi’s Form 4 shows routine RSU vesting with tax withholding and no open-market trading.

The disclosure shows restricted stock units and dividend equivalent units converting into 1,515 Common Stock shares for Brian J. Choi on March 9, 2026. This is standard equity compensation mechanics: RSUs vest, then settle into shares on a one-for-one basis.

The filing also reports 516 shares classified under code F, withheld at $95.89 per share to satisfy tax obligations tied to the vesting. Code F dispositions are not open-market sales and carry limited signaling value about management’s view of the stock.

After these events, Choi directly owns 111,178 shares and indirectly holds 1,735 shares through an IRA. With 0 open-market buys or sells and an empty derivativeSummary, this appears to be a routine vesting-and-withholding event rather than a change in strategic positioning. Future company filings may detail any additional equity awards or subsequent transactions.

Insider Trade Summary

1,437 shares exercised/converted

Mixed 5 txns

Insider Choi Brian J

Role Chief Executive Officer

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,437	$0.00	--
Grant/Award	Dividend Equivalent Units	78	$0.00	--
Exercise	Common Stock	1,515	$0.00	--
Tax Withholding	Common Stock	516	$95.89	$49K
holding	Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct); Dividend Equivalent Units — 0 shares (Direct); Common Stock — 111,694 shares (Direct); Common Stock — 1,735 shares (Indirect, By IRA)

Footnotes (1)

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.

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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
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^*

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)
03/09/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/09/2026		M		1,515	A	$0(1)	111,694	D
Common Stock	03/09/2026		F(2)		516	D	$95.89	111,178	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)	03/09/2026		M			1,437	(3)	(4)	Common Stock	1,437	$0	0	D
Dividend Equivalent Units	$0(1)	03/09/2026		A			78	(5)	(4)	Common Stock	78	$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.

Remarks:

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