AVIS BUDGET GROUP, INC. (CAR) SEC Filings, Feb-Mar 2026

Avis Budget Group, Inc. reported that Pentwater Capital Management and Matthew Halbower beneficially hold 4,327,200 shares, representing 12.3% of common stock based on 35,258,652 shares outstanding as of February 13, 2026.

The filing states the reported holdings reflect shared voting and dispositive power of 4,327,200 shares and include 254,700 shares issuable upon exercise of call options. The Schedule is signed on March 6, 2026.

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.

Avis Budget Group, Inc. filed a Form 8-K to furnish a court-ordered notice to shareholders about the proposed voluntary dismissal of two shareholder derivative actions in federal court in New Jersey. The notice explains that, unless another shareholder intervenes, the cases will be dismissed without prejudice.

Any Avis shareholder who owns common stock and wishes to pursue the claims or oppose dismissal may move to intervene in either action. Motions to intervene must be filed with the District Court for the District of New Jersey by April 13, 2026, and must follow the requirements of Federal Rule of Civil Procedure 24.

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.

Pentwater Capital Management LP and Matthew Halbower filed an initial ownership report for Avis Budget Group, Inc., describing indirect positions held by certain Pentwater funds. The filing lists put options described as a right to sell and separate put and call options described as obligations to buy or sell Avis Budget common stock. It also discloses multiple cash-settled total return swaps referencing various share amounts, alongside 3,562,100 shares of common stock held indirectly. The cash-settled swaps give the funds economic results comparable to share ownership but, according to the disclosure, do not provide power to vote or dispose of the referenced shares. The reporting persons and the funds each disclaim beneficial ownership except to the extent of any pecuniary interest.

Avis Budget Group director Bernardo Hees reported an equity award. On February 20, 2026, an entity associated with him acquired 2,592 restricted stock units of Avis Budget Group common stock at a reference price of $96.47 per share as a grant under the non‑employee director compensation program.

The award consists of restricted stock units that convert into common shares on a one‑for‑one basis and will fully vest on the one‑year anniversary of the grant date. Following this award, entities linked to Hees, including the Bernardo Vieira Hees Revocable Trust and BHJH Master Trust LLC, together hold 119,113 shares indirectly. A separate line reflects 3,713 shares indirectly held through a nonqualified deferred compensation plan.

Avis Budget Group director Lynn Krominga reported mixed equity activity on February 20, 2026. She sold 1,950 shares of common stock in an open-market transaction at $91.54 per share.

On the same date, she received a grant of 1,762 restricted stock units valued at $96.47 per unit under the non-employee director compensation program. These units will fully vest on the one-year anniversary of the grant and convert into common stock one-for-one. She also holds 28,404 shares indirectly through an NQ Deferred Compensation Plan.

AVIS BUDGET GROUP, INC. director Glenn Lurie reported an equity grant under the company’s non-employee director compensation program. He acquired 1,555 restricted stock units of common stock on February 20, 2026 at a reference price of $96.47 per share. These units convert into an equal number of common shares when they vest and are scheduled to fully vest one year after the grant date. Lurie also reports 16,054 common shares held indirectly through an NQ Deferred Compensation Plan, reflecting additional equity exposure tied to his board role.