[Form 4] Global Business Travel Group, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Global Business Travel Group, Inc. (GBTG) Form 4 shows that Karen A. Williams, the company's Chief Financial Officer and an officer reporting person, disposed of 15,000 shares of Class A common stock on 08/13/2025 at a reported price of $7.87 per share. After the transaction, Ms. Williams is reported to beneficially own 609,937 shares, held directly. The filing states the 15,000 shares were repurchased by the issuer under a board-approved repurchase program. The Form 4 was signed by an attorney-in-fact on 08/15/2025.

Positive

• Issuer repurchase of 15,000 shares executed under a board-approved repurchase program, indicating active capital return activity
• Reporting person retains meaningful stake with 609,937 Class A shares beneficially owned after the transaction

Negative

• Insider disposition of 15,000 shares by the Chief Financial Officer, which investors may view as insider selling despite repurchase attribution

Insights

Securities Analyst

TL;DR: Officer sale of 15,000 shares executed via issuer repurchase; holdings remain sizable at 609,937 shares.

The Form 4 discloses a single non-derivative disposition by the CFO of 15,000 Class A shares at $7.87 each on 08/13/2025. The filing explicitly attributes the shares to an issuer repurchase under a board-approved program rather than an open-market sale by the officer. Post-transaction direct beneficial ownership is reported as 609,937 shares. This is a routine Section 16 disclosure documenting an insider change in ownership; there are no derivative transactions, amendments, or additional contextual financial metrics in the filing.

Corporate Governance Expert

TL;DR: Transaction appears procedural: repurchase by issuer recorded; no governance red flags in the filing.

The filing shows the CFO as the reporting person and records a disposal of 15,000 shares that the company repurchased under a board-approved program. Because the repurchase is explicitly identified, the disclosure reads as an execution of corporate buyback activity rather than a discretionary insider sale for personal liquidity. The reported remaining direct ownership of 609,937 shares indicates continued substantial alignment with shareholders. The document contains no indications of related-party transactions or unusual timing beyond the repurchase note.

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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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^*

Williams Karen A

(Last) (First) (Middle)

C/O GLOBAL BUSINESS TRAVEL GROUP, INC.

666 THIRD AVENUE

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Global Business Travel Group, Inc. [ GBTG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/13/2025

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
Class A Common Stock	08/13/2025		D		15,000(1)	D	$7.87	609,937	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

Explanation of Responses:

1. These shares were repurchased by the Issuer pursuant to a repurchase program approved by the Issuer's Board of Directors.

Remarks:

	Jennifer Giampietro, as Attorney-in-Fact	08/15/2025
	** 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 transaction did Karen A. Williams report on Form 4 for GBTG?

The Form 4 reports a disposition of 15,000 Class A shares on 08/13/2025 at a reported price of $7.87 per share.

How many GBTG shares does the reporting person own after the transaction?

After the reported transaction, the filing shows 609,937 shares beneficially owned by the reporting person.

Why were the 15,000 shares disposed of according to the filing?

The filing states the shares were repurchased by the issuer pursuant to a repurchase program approved by the Board of Directors.

When was the Form 4 signed and who signed it?

The Form 4 was signed by Jennifer Giampietro, as Attorney-in-Fact on 08/15/2025.

Does the Form 4 report any derivative transactions for GBTG by the reporting person?

No. Table II for derivative securities is empty; the filing reports only a non-derivative disposition of Class A common stock.