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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.