Global Business Travel (GBTG) buyback repurchases 65,000 shares from officer

Rhea-AI Filing Summary

Global Business Travel Group, Inc. (GBTG) reported an insider disposition by Eric J. Bock, the company's Chief Legal Officer & Global Head of Mergers & Acquisitions and Compliance & Corporate Secretary. On 08/08/2025 Mr. Bock disposed of 65,000 shares of Class A common stock at $7.51 per share. The filing states these shares "were repurchased by the Issuer pursuant to a repurchase program approved by the Issuer's Board of Directors," indicating the sale occurred through the company's buyback. After the reported transaction Mr. Bock beneficially owned 2,049,354 shares directly. The disclosure records a routine insider sale executed via an issuer repurchase while the officer maintains a multi-million-share holding.

Positive

• Repurchase executed under a board-approved program, as the filing states the shares were repurchased by the issuer pursuant to a repurchase program approved by the Board of Directors.
• Reporting officer retains a significant direct stake after the transaction: 2,049,354 shares beneficially owned.

Negative

• Insider disposition of 65,000 Class A shares on 08/08/2025 at $7.51 per share, which is a reduction in the officer's holdings.
• Form 4 reports sale rather than a purchase; while executed via repurchase, insider sold shares which some investors may view unfavorably.

Insights

Securities Analyst

TL;DR: Insider sale of 65,000 shares at $7.51 executed through issuer repurchase; insider retains 2,049,354 shares.

The transaction shows a disposition of 65,000 Class A shares by a senior officer at $7.51 per share, with the issuer repurchasing the shares under a board-approved program. This is a clear, documented sale rather than an open-market trade, and the officer's remaining direct stake of 2,049,354 shares remains substantial. From a market-impact perspective, the trade size and repurchase route are factual; assessment of materiality requires context on outstanding shares and recent trading volume, which are not provided in the filing.

Corporate Governance Expert

TL;DR: Sale routed through company buyback; governance disclosure is complete and indicates Board-authorized repurchase use.

The Form 4 explicitly notes the shares were repurchased by the issuer pursuant to a board-approved repurchase program, which is important for governance transparency. The reporting person is identified with full corporate title, and the post-transaction beneficial ownership is disclosed as 2,049,354 shares direct. The filing contains the required explanatory remark about the repurchase; no additional governance issues are raised by the document itself.

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^*

Bock Eric J.

(Last) (First) (Middle)

10 SEA COURT

(Street)

VERO BEACH FL 32963

(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)
	See remarks

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

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	08/08/2025		D		65,000(1)	D	$7.51	2,049,354	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:

Title: Chief Legal Officer & Global Head of Mergers & Acquisitions and Compliance & Corporate Secretary

	Jennifer Giampietro, as Attorney-in-Fact	08/12/2025
	** 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.
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FAQ

What did Eric J. Bock disclose on the Form 4 for GBTG?

The Form 4 discloses that Eric J. Bock disposed of 65,000 Class A shares on 08/08/2025 at $7.51 per share and continues to beneficially own 2,049,354 shares directly.

How were the 65,000 shares sold according to the filing?

The filing states the shares "were repurchased by the Issuer pursuant to a repurchase program approved by the Issuer's Board of Directors," indicating the disposition occurred through the company's buyback program.

What is Eric Bock's role at Global Business Travel Group (GBTG)?

The remarks section lists his title as Chief Legal Officer & Global Head of Mergers & Acquisitions and Compliance & Corporate Secretary.

What was the per-share price for the transaction reported on the Form 4?

The reported transaction price was $7.51 per share.

How many shares does Eric Bock hold after the reported transaction?

After the reported disposition, Eric Bock beneficially owned 2,049,354 shares directly, per the Form 4.