Avis Budget Form 4 Filings

Avis Budget Group executive Ravi Simhambhatla settled equity awards as 16,878 restricted stock units and 913 dividend equivalent units automatically converted into 17,791 shares of common stock on July 26, 2026. 8,155 shares were withheld at $159.48 per share to satisfy tax obligations associated with the vesting.

Daniel Crestian Cunha, EVP and CFO of Avis Budget Group, reported the vesting of 969 restricted stock units on July 23, 2026. These units automatically converted into 969 shares of Common Stock, and 304 shares were withheld at $159.04 per share to cover tax obligations. After the conversion, he holds 1,940 restricted stock units, with the units associated with this award vesting in three equal installments on July 23, 2026, 2027 and 2028. The transactions were not reported as made under a Rule 10b5-1 trading plan.

Pentwater-managed funds reported derivative sales tied to Avis Budget Group. A group of investment funds advised by Pentwater Capital Management LP filed an amended Form 4 describing open-market sales of 444 call option contracts, each representing an obligation to sell Avis common stock at specified strike prices.

The options, all expiring on May 15, 2026, have strike prices of $400, $360, $350 and $340 per share and were sold at premiums ranging from $19.68 to $24.08 per option. The trades are attributed to entities including Pentwater Merger Arbitrage Master Fund Ltd., Pentwater Equity Opportunities Master Fund Ltd., Pentwater Credit Master Fund Ltd., Oceana Master Fund Ltd., LMA SPC MAP 98 Segregated Portfolio and Crown Managed Accounts SPC.

The filing amends and restates prior footnotes and states that the reporting persons disclaim beneficial ownership beyond their pecuniary interest. It also notes they are in discussions with Avis Budget Group and will voluntarily pay any realized short swing profits to the extent required under Section 16(b).

AVIS BUDGET GROUP, INC. (CAR) reported amended insider activity related to funds managed by Pentwater Capital Management LP. On April 23, 2026, these funds executed 30 open-market sales of call options on CAR common stock, totaling 792 option contracts, at prices ranging from $24.08 to $51.85 per contract.

The options are “call options (obligation to sell)” with exercise prices between $280 and $340 and expiration dates on May 15, 2026 and June 18, 2026. The filing states the reporting persons are in discussions with the issuer and will voluntarily pay any realized short swing profits required under Section 16(b).

Avis Budget Group, Inc. received an amended insider report from Pentwater-affiliated entities detailing derivative sales tied to its stock. Pentwater Capital Management LP and Matthew Halbower, each a ten percent owner, filed a Form 4/A covering call option positions held by various Pentwater-managed funds.

On April 23, 2026, these funds executed 30 open-market sales of call options referencing Avis Budget Group common stock, totaling 307 call option contracts. Sale prices ranged from $10.21 to $46.96 per contract, with conversion or exercise prices between $250 and $300 and expirations in April 2026 and June 2026. Footnotes state the trades were made by specific funds, such as Pentwater Merger Arbitrage Master Fund Ltd., Oceana Master Fund Ltd., and others, and that the options are exercisable at any time.

The reporting persons disclaim beneficial ownership beyond their pecuniary interest, if any. They also note they are in discussions with Avis Budget Group and, to the extent required under Section 16(b), will voluntarily pay any realized short swing profits.

Pentwater-managed funds reported significant selling in Avis Budget Group on April 23, 2026. Funds advised by Pentwater Capital Management sold 843,201 shares of Avis Budget Group common stock at a price of $264.60 per share in open-market transactions. After these stock sales, the filing shows indirect holdings of 3,485,000 common shares.

The same day, affiliated funds also sold exchange-traded call options described as an obligation to sell Avis common stock, at strike prices ranging from $220.00 to $270.00 per share and expiring on April 24, 2026. The filing attributes trades to specific funds such as Pentwater Merger Arbitrage Master Fund Ltd. and Oceana Master Fund Ltd., with Pentwater and Matthew Halbower disclaiming beneficial ownership beyond any pecuniary interest. The reporting persons note they are in discussions with Avis Budget Group and state they will voluntarily pay any realized short swing profits to the issuer to the extent required under Section 16(b).

Pentwater Capital Management LP and Matthew Halbower, as reporting persons for various Pentwater funds, reported a series of open-market sales of Avis Budget Group (CAR) common stock. Across April 22–23 2026, the funds sold an aggregate of about 1,852,642 shares.

The common stock sales occurred at prices including $438.74 per share on April 22 2026 and in ranges such as $250.61–$290.38 per share on April 23 2026. In addition, the funds sold multiple call options (obligations to sell) on Avis Budget common stock with strike prices between $220 and $310 per share, collecting option premiums such as $20.06–$30.28 per option and creating obligations on specified numbers of underlying shares.

All positions are reported as indirect holdings by named funds including Pentwater Merger Arbitrage Master Fund Ltd., Pentwater Equity Opportunities Master Fund Ltd., Pentwater Credit Master Fund Ltd., Oceana Master Fund Ltd., Crown Managed Accounts SPC and LMA SPC. The reporting persons disclaim beneficial ownership beyond their pecuniary interest and state they are in discussions with Avis Budget Group and will voluntarily pay any realized short swing profits to the extent required under Section 16(b).

Pentwater-managed funds reported significant open-market sales of Avis Budget Group common stock and related call options. On April 22, 2026, various funds advised by Pentwater Capital Management sold an aggregate of 1,643,913 shares of Common Stock at prices ranging from $438.74 to $702.24 per share, leaving combined indirect holdings of about 7.8 million shares across the funds noted in the filing.

On April 23, 2026, the same fund complex recorded multiple sales of Call Options (obligation to sell) on Avis Budget common stock, with exercise prices between $260.00 and $320.00 and expirations in early May 2026. All positions are held indirectly by entities such as Pentwater Merger Arbitrage Master Fund Ltd., Oceana Master Fund Ltd., and others, not by Pentwater Capital Management LP or Matthew Halbower personally.

The footnotes state that Pentwater Capital Management LP and Matthew Halbower each disclaim beneficial ownership except to the extent of any pecuniary interest. They also note that the reporting persons are in discussions with Avis Budget Group and, if required under Section 16(b), will voluntarily pay any realized short swing profits, and that this amended Form 4 restates prior footnotes.

Avis Budget Group executive Ravi Simhambhatla reported an open-market sale of company stock. On the reported date, he sold 3,469 shares of Common Stock at a weighted average price of $184.09 per share, with individual sale prices ranging from $184.09 to $184.25. After these transactions, he directly holds 13,876 shares of Avis Budget Group Common Stock.

Avis Budget Group EVP and Chief HR Officer Edward P. Linnen sold 9,483 shares of CAR common stock in open-market transactions on 2026-04-30. The shares were sold in two blocks at weighted average prices of about $182.05 and $183.10. Footnotes note that sale prices ranged from $182.00 to $183.11, and Linnen continues to hold a meaningful direct equity stake after these trades.

Pentwater-managed funds reported open-market sales of call options referencing Avis Budget Group, Inc. (CAR) common stock. The options, held indirectly through entities such as Pentwater Merger Arbitrage Master Fund Ltd., Crown Managed Accounts SPC and others, cover various strike prices between $340 and $400 per share and expire on May 15, 2026. Pentwater Capital Management LP and Matthew Halbower disclaim beneficial ownership except for any pecuniary interest. Footnotes state that certain sales are matchable with prior purchases for Section 16(b) purposes and that any short-swing profits from those matchable transactions will be voluntarily disgorged to the issuer.

Avis Budget Group large holder Pentwater Capital Management LP, together with principal Matthew Halbower, reported a series of indirect derivative sales tied to Avis Budget common stock. On April 23, 2026, Pentwater‑advised funds completed 30 open‑market sales of call options, representing 792 derivative shares referencing the stock, at option prices ranging from about $24.08 to $51.85 per option.

The call options carry exercise prices between $280 and $340 and expire on May 15, 2026 or June 18, 2026. All positions are held indirectly through named funds such as Pentwater Merger Arbitrage Master Fund Ltd., Oceana Master Fund Ltd., and others. The reporting persons disclaim beneficial ownership except for any pecuniary interest.

Footnotes state that certain sales by specific Pentwater funds are “matchable” against earlier deemed purchases for Section 16(b) purposes. The reporting persons note they are in discussions with Avis Budget Group and have agreed to voluntarily disgorge any short‑swing profits from those matchable transactions to the company.

Pentwater Capital Management LP, on behalf of several investment funds, reported open-market sales of 307 call option contracts tied to AVIS BUDGET GROUP, INC. common stock on April 23, 2026. The options were sold at prices between $10.21 and $46.96 per contract, with exercise prices from $250 to $300 per share and expirations on April 24, 2026 and June 18, 2026.

The trades were executed through entities including Pentwater Merger Arbitrage Master Fund Ltd., Pentwater Equity Opportunities Master Fund Ltd., Crown Managed Accounts SPC and others. Footnotes state that certain sales are “matchable” against earlier deemed purchases under Section 16(b), and the reporting persons have agreed to voluntarily disgorge any short-swing profits from those transactions to the issuer.

Pentwater-advised funds reported net selling activity in Avis Budget Group, Inc. common stock. On April 23, 2026, Pentwater-managed entities sold 843,201 shares of Common Stock at an average price of about $264.60 per share, leaving 3,485,000 shares held indirectly. The filing also shows numerous sales of listed call options (obligations to sell) on Avis shares with strike prices between $220 and $270 and expirations on April 24, 2026. The reporting persons disclaim beneficial ownership beyond any pecuniary interest. Certain sales by specific Pentwater funds are identified as “matchable” under Section 16(b), and the reporting persons have agreed to voluntarily disgorge any related short-swing profits to Avis Budget Group.

Pentwater-managed funds reported significant insider sales of Avis Budget Group, Inc. common stock. On April 22–23, 2026, funds advised by Pentwater Capital Management LP executed open-market sales totaling 1,852,642 shares of common stock, with reported sale prices including $250.61, $257.31, $264.60, $278.44, $290.38, and $438.74 per share.

The filing attributes transactions to entities such as Pentwater Merger Arbitrage Master Fund Ltd., Pentwater Equity Opportunities Master Fund Ltd., Pentwater Credit Master Fund Ltd., Oceana Master Fund Ltd., Crown Managed Accounts SPC, and LMA SPC. Post-transaction, one cited fund, Pentwater Merger Arbitrage Master Fund Ltd., is shown holding 6,177,100 shares of common stock.

The funds also sold multiple call options (obligations to sell) on Avis Budget common stock, with exercise prices including $220, $260, $280, $290, and $300–$310 per share. Footnotes state that certain sales are “matchable” short-swing transactions under Section 16(b) and that the reporting persons have agreed to voluntarily disgorge any short-swing profits from those trades to the issuer.

Pentwater Capital Management LP and Matthew Halbower reported extensive selling activity in Avis Budget Group, Inc. through affiliated investment funds. On behalf of these Pentwater Funds, they recorded 60 open-market sale transactions, combining sales of common stock with trades in call options that reference Avis common shares.

The common stock sales include multiple large blocks, such as 386,294 shares at $588.35 per share and 387,730 shares at $620.50 per share, executed indirectly through funds like Pentwater Merger Arbitrage Master Fund Ltd. Additional sizeable sales were made via Crown Managed Accounts SPC, Pentwater Equity Opportunities Master Fund Ltd., Pentwater Credit Master Fund Ltd., Oceana Master Fund Ltd., and LMA SPC.

Footnotes state that Pentwater and Mr. Halbower disclaim beneficial ownership beyond any pecuniary interest. They also note that certain sales by specific funds are "matchable" under Section 16(b), and the Reporting Persons have agreed to voluntarily disgorge to Avis Budget Group any short-swing profits realized from those matchable transactions.

Funds advised by Pentwater Capital Management LP exercised call options on Avis Budget Group common stock, acquiring additional shares through in-the-money derivative exercises. The transactions, reported jointly by Pentwater Capital Management LP and Matthew Halbower, relate to securities held by certain Pentwater Funds, which they manage.

The filings show exercises of call options into 65,000 shares at $80.00 per share and 676,100 shares at $85.00 per share, all held indirectly. The reporting persons disclaim beneficial ownership except to the extent of their pecuniary interest, while the Pentwater Funds remain significant holders of Avis Budget Group stock.

Pentwater Capital Management LP, as investment adviser to certain funds, reported an in-the-money option exercise related to Avis Budget Group, Inc. common stock. The funds exercised call options tied to 34,700 shares of common stock at an exercise price of $85.00 per share and now indirectly hold 7,083,000 shares after the transaction. A corresponding short put option position on the same underlying shares expired on the same date. The filing notes that Pentwater and Matthew Halbower each disclaim beneficial ownership beyond any pecuniary interest.

Pentwater Capital-managed funds increased their indirect stake in Avis Budget Group through derivative exercises. On 2026-03-20, the funds exercised a series of in-the-money put options to acquire multiple blocks of Common Stock, including 1,236,300 shares at $110 per share and additional tranches at $120, $125, $130 and $110. Following these acquisitions, the reported indirect holdings rose to 7,108,300 shares of Common Stock. Over the same period, several short call option positions with strike prices between $150 and $310 per share expired, removing those derivative obligations. All positions are held by Pentwater Funds advised by Pentwater Capital Management LP, and both Pentwater and Matthew Halbower disclaim beneficial ownership beyond any pecuniary interest.

Pentwater-managed funds reported substantial option exercises and share acquisitions in Avis Budget Group, Inc. (CAR). On March 18–19, funds advised by Pentwater Capital Management LP exercised multiple put option positions on CAR, acquiring blocks of common stock at strike prices of $110, $120, $125 and $130 per share through in-the-money derivative exercises.

The funds also bought 211 call options with an $85 strike at an average price of $24.7626 per option and sold 211 put options with an $85 strike at an average price of $12.3082, both expiring on November 20, 2026.

Following these transactions, entities managed by Pentwater indirectly held 5,437,300 shares of CAR common stock. Pentwater and Matthew Halbower each disclaim beneficial ownership beyond any pecuniary interest.

DeGenova Cathleen reported acquisition or exercise transactions in this Form 4 filing.

Avis Budget Group Chief Accounting Officer Cathleen DeGenova reported equity compensation awards rather than open‑market trades. On March 17, 2026, she received 1,301 restricted stock units, each convertible into one share of common stock, vesting in three equal installments on March 17, 2027, 2028 and 2029.

She also received 1,301 performance-based restricted stock units tied to pre-established performance goals, which will vest on March 17, 2029. The number of shares that ultimately vest from this performance award can range from zero to 150% of the 1,301 target units, depending on the company’s performance.

Avis Budget Group reported that executive Jean M. Sera, its SVP, General Counsel, Chief Compliance Officer and Corporate Secretary, received equity-based compensation in the form of restricted stock units. She was granted 2,493 restricted stock units that convert into common stock on a one-to-one basis as they vest in three equal installments on March 17, 2027, 2028 and 2029. She was also granted 2,493 performance-based restricted stock units, which may vest on March 17, 2029 depending on the company’s achievement of pre-set performance goals, with the actual units vesting ranging from zero up to 150% of the target amount.

Linnen Edward P reported acquisition or exercise transactions in this Form 4 filing.

Avis Budget Group reported that EVP and Chief HR Officer Edward P. Linnen received equity awards in the form of restricted stock units. He was granted 3,190 restricted stock units and 3,190 performance-based restricted stock units, each convertible into common stock on a one-to-one basis upon vesting.

The time-based units vest in three equal installments on March 17, 2027, 2028 and 2029. The performance-based units are scheduled to vest on March 17, 2029, with the actual number earned ranging from zero to 150% of the 3,190 target units, depending on pre-established performance goals.

AVIS BUDGET GROUP, INC. executive Ravi Simhambhatla received equity awards in the form of restricted stock units tied to the company’s common stock. He was granted 4,417 time-based restricted stock units that convert one-for-one into common shares and vest in three equal installments on March 17, 2027, 2028 and 2029. He also received 4,417 performance-based restricted stock units that may vest on March 17, 2029, with the actual number of units vesting ranging from zero to 150% of this target amount based on the company’s attainment of pre-established performance goals. These awards represent direct ownership incentives rather than open-market purchases.

Avis Budget Group EVP and CFO Daniel Cunha received new equity awards in the form of stock units. He was granted 4,908 restricted stock units that convert into the same number of common shares as they vest in three equal installments on March 17, 2027, 2028 and 2029.

He also received 4,908 performance-based restricted stock units that may vest on March 17, 2029 based on pre-established performance goals. The performance award can result in zero to 150% of the target 4,908 units vesting, tying part of his compensation to the company’s performance.

Choi Brian J reported acquisition or exercise transactions in this Form 4 filing.

Avis Budget Group Chief Executive Officer Brian J. Choi received two equity awards in the form of stock units. He was granted 26,993 time-based restricted stock units and 26,993 performance-based restricted stock units, each convertible into common stock on a one-to-one basis when vested.

The time-based units vest in three equal installments on March 17, 2027, 2028 and 2029. The performance-based units are scheduled to vest on March 17, 2029, with the actual number vesting ranging from zero to 150% of the 26,993 target units, depending on achievement of pre-established performance goals.

Avis Budget Group Executive Chairman Jagdeep Pahwa reported multiple equity compensation moves. On March 17, 2026, he received grants of 24,539 restricted stock units and 24,539 performance-based restricted stock units, each convertible into common stock on a one-to-one basis. The time-based units vest in equal installments on March 17, 2027, 2028 and 2029, while the performance-based units may vest on March 17, 2029 from zero up to 150% of the target amount depending on pre-established performance goals.

On the same date, previously granted restricted stock units vested and were settled into 13,303 shares of common stock. Of these, 4,385 shares were withheld at $99.56 per share to cover tax obligations, leaving 8,918 shares of common stock held directly after the transactions.

Pentwater Capital Management LP–advised funds increased their exposure to AVIS BUDGET GROUP, INC. through option exercises. On 2026-03-16, these funds exercised put options on Common Stock, acquiring 41,100 shares at $120.0000 per share and 2,300 shares at $125.0000 per share.

The reporting persons, Pentwater Capital Management LP and Matthew Halbower, state that the securities are held by certain Pentwater Funds and each disclaims beneficial ownership except for any pecuniary interest. Following these transactions, the indirect Common Stock position reported is 4,404,400 shares, indicating a relatively small incremental increase from the exercises.

AVIS BUDGET GROUP, INC. Chief Accounting Officer Cathleen DeGenova reported routine equity compensation activity. Restricted stock units automatically converted into 273 shares of Common Stock on March 13, 2026, consistent with their terms. To cover tax obligations from this vesting, 127 Common Shares were withheld at a price of $100.71 per share. After these transactions, DeGenova directly held 7,633 Common Shares. The units vest in three equal installments on March 13, 2025, 2026 and 2027, reflecting an ongoing, scheduled compensation program rather than open-market trading.

Avis Budget Group executive Jean M. Sera, SVP, General Counsel, Chief Compliance Officer and Corporate Secretary, reported routine equity compensation activity. On March 13, 2026, 749 restricted stock units automatically converted into an equal number of common shares at no exercise price as they vested. To cover tax obligations related to this vesting, 348 common shares were withheld at a value of $100.71 per share, which is recorded as a tax-withholding disposition rather than an open-market sale. After these transactions, Sera directly held 37,484 shares of Avis Budget common stock. The footnotes state that these restricted stock units vest in three equal installments on March 13, 2025, 2026 and 2027, underscoring that this filing reflects a scheduled compensation event.

AVIS BUDGET GROUP, INC. executive Edward P. Linnen, EVP and Chief HR Officer, reported routine equity compensation activity. On March 13, he exercised 958 restricted stock units that automatically converted into 958 shares of common stock, and these were reported as an award with no cash paid.

To cover tax obligations tied to this vesting, 301 common shares were withheld at a price of $100.71 per share, which is a non-market, tax-withholding disposition rather than an open-market sale. After these transactions, Linnen directly holds 47,415 shares of common stock. No open-market purchases or sales were reported.

Avis Budget Group executive Ravi Simhambhatla received a compensation-related stock award. On March 13, he was granted 1,326 restricted stock units that convert into the same number of common shares as they vest. The filing shows 1,326 common shares credited and 416 shares withheld to cover taxes. After these transactions, he directly holds 17,345 common shares.

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.

Pentwater Capital Management LP, as a ten percent owner of Avis Budget Group, Inc., reported a series of derivative exercises tied to Common Stock on 2026-03-12 and 2026-03-13. Funds advised by Pentwater exercised put options (obligations to buy) and acquired Avis Budget common shares at exercise prices of $120.00, $125.00, and $130.00 per share. Following these in-the-money option exercises, the funds indirectly held 4,361,000 Avis Budget common shares. The filing notes these securities are held by certain Pentwater funds, and both Pentwater and its principal disclaim beneficial ownership beyond their pecuniary interest. No open‑market purchases or sales were reported in this filing, only option exercises that increased the funds’ share position.

Avis Budget Group Chief Accounting Officer Cathleen DeGenova exercised restricted stock units that vested into common stock and had shares withheld to cover taxes. On March 12, 2026, 705 restricted stock units automatically converted into 705 common shares. Of these, 327 common shares were disposed of to satisfy tax obligations, which is not an open-market sale. Following these transactions, DeGenova directly holds 7,487 common shares and 1,410 restricted stock units that will vest in three equal installments on March 12, 2026, 2027 and 2028.

Avis Budget Group senior executive Jean M. Sera reported compensation-related equity activity involving restricted stock units and common stock. Restricted stock units automatically converted into 1,351 shares of common stock, increasing her direct holdings to 37,710 shares before tax withholding.

To cover tax obligations from the vesting, 627 common shares were withheld at $99.56 per share, leaving her with 37,083 shares of common stock held directly after the transactions. Footnotes state the units vest in three equal installments on March 12, 2026, 2027 and 2028.

Avis Budget Group EVP and Chief HR Officer Edward P. Linnen reported equity compensation activity involving restricted stock units and common shares. He received a grant of 1,729 restricted stock units that will vest in three equal installments on March 12, 2026, 2027 and 2028. These units automatically convert into common stock on a one-to-one basis when they vest.

On the same date, 1,729 shares of common stock were acquired in connection with vesting, and 543 shares were disposed of at $99.56 per share to cover tax withholdings related to the vesting. After these transactions, Linnen holds 46,758 shares of common stock directly and 3,496 shares indirectly through a 401(k) plan.

AVIS BUDGET GROUP, INC. executive Ravi Simhambhatla reported routine equity compensation activity. On March 12, he received a grant of 2,394 restricted stock units, each eligible to convert into one share of common stock. These units vest in three equal installments on March 12 of 2026, 2027 and 2028.

On the same date, 2,394 shares of common stock were acquired through the vesting and conversion of previously granted restricted stock units, with 751 of those shares withheld at a price of $99.56 per share to cover tax obligations. After these transactions, he directly holds 16,435 shares of common stock and 4,790 restricted stock units.

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.

Pentwater Capital Management LP, on behalf of investment funds it advises, exercised put options on AVIS BUDGET GROUP, INC. to acquire 24,500 shares of Common Stock at $125 per share on March 9, 2026. Following the exercise, the funds indirectly held 4,097,600 common shares. The options transaction reduced the derivative position but did not involve any open-market share sales, and Pentwater and related parties disclaim beneficial ownership beyond their pecuniary interest.

Avis Budget Group Chief Accounting Officer Cathleen DeGenova exercised equity awards tied to company stock. On March 9, 2026, 140 restricted stock units and 8 dividend equivalent units automatically converted into 148 shares of Common Stock upon vesting. Of these, 72 shares were withheld by the company at $95.89 per share to cover tax obligations, a non-market disposition. DeGenova’s direct Common Stock holdings increased to 7,109 shares, reflecting a net share acquisition as part of routine compensation vesting.

AVIS BUDGET GROUP, INC. SVP, GC, CCO & Corp. Sec. Sera Jean M reported routine equity compensation activity. On March 9, 2026, restricted stock units and dividend equivalent units converted into 421 shares of Common Stock. Of these, 196 shares were withheld at $95.89 per share to cover tax obligations tied to vesting. Following these transactions, she directly holds 36,359 shares of Common Stock. The footnotes state that the units convert to Common Stock on a one-to-one basis and vest in three equal installments on March 9, 2024, 2025 and 2026.

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.

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.

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.

Pentwater Capital Management LP, reporting as a 10% owner of Avis Budget Group, Inc., reported a series of option trades and exercises conducted for funds it advises. A footnote states Pentwater and its principal disclaim beneficial ownership beyond any pecuniary interest.

On March 6 and 9, Pentwater‑managed funds bought 2,500 call options and sold 2,500 put options on Avis Budget common stock in open‑market transactions. They also exercised in‑the‑money put options, acquiring 600 shares of common stock at exercise prices of $125, $130, and $150 per share.

Following these indirect transactions through the Pentwater Funds, reported indirect holdings of Avis Budget common stock were 4,073,100 shares.

Pentwater Capital Management LP, a 10% owner of Avis Budget Group, Inc., reported indirect trading in call and put options tied to the company’s stock through investment funds it advises. The positions are held by Pentwater Funds, and Pentwater and Matthew Halbower each disclaim beneficial ownership except for any pecuniary interest.

On March 3, the funds bought 2,000 call options at about $21.24 per option and sold 2,000 put options at about $10.95 per option in open-market transactions. On March 4, they bought another 500 call options at about $23.02 per option and sold 500 put options at about $9.77 per option. The options are exercisable at any time, and all positions are reported as indirect ownership.

Pentwater Capital Management LP, a 10% owner of Avis Budget Group, reported a series of options and stock transactions carried out for Pentwater-managed funds. On February 25 and 27, 2026, the funds bought 1,550 call options and sold 1,550 put options on Avis Budget Group, with prices around $20–$22 per call and $10–$11 per put. On February 26, 2026, they exercised put options to acquire 200 shares of common stock at $150 per share, increasing indirect common stock holdings to 4,072,500 shares. The filing notes these securities are held by Pentwater funds advised by Pentwater Capital, and each reporting person disclaims beneficial ownership beyond any pecuniary interest.

Pentwater Capital Management LP, as adviser to certain Pentwater Funds, reported a series of indirect derivatives and stock transactions in Avis Budget Group, Inc. common stock. The funds bought 425,000 shares of common stock at a price of $94.2590 per share and entered into additional call option positions while selling corresponding put options in open-market transactions on February 20–24, 2026. The funds also exercised various in-the-money put options and related derivative positions to acquire additional common shares and adjusted their exposure through cash-settled total return swap agreements. The filing notes the swap agreements provide economic exposure to underlying shares but no power to vote or dispose of those referenced shares, and the reporting persons disclaim beneficial ownership beyond any pecuniary interest.