GBTG director receives 23,429-share equity award

Global Business Travel Group, Inc. director James Peter Bush reported an equity award under the company’s non-employee director compensation program.

Rhea-AI Filing Summary

Global Business Travel Group, Inc. director James Peter Bush reported an equity award under the company’s non-employee director compensation program. He received 23,429 shares of Class A Common Stock at no cash cost, in the form of restricted stock units that convert into common stock on a one-to-one basis when vested.

The award will fully vest on the date of the company’s next annual stockholders’ meeting. Following this grant, Bush directly holds 138,026 shares of Class A Common Stock. This filing reflects routine director compensation rather than an open-market purchase or sale.

Insights

Corporate governance analyst

Routine director equity grant with time-based vesting.

Director James Peter Bush received 23,429 restricted stock units of Global Business Travel Group, Inc. as part of the non-employee director compensation program. These RSUs convert to Class A Common Stock on a one-to-one basis when they vest.

The award vests in full on the date of the next annual stockholders’ meeting, aligning director incentives with shareholder interests over that period. Because the grant carries a zero dollar price per share and is compensation-based rather than an open-market transaction, it is generally viewed as a routine governance practice.

After this grant, Bush’s direct holdings total 138,026 Class A shares, providing meaningful equity exposure but without any indicated discretionary buying or selling in the market. Future company disclosures may detail subsequent equity awards or changes in director compensation structure.

Insider Trade Summary

Grant/Award: 23,429 shares

Grant/Award 1 txn

Insider Bush James Peter

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock	23,429	$0.00	$0.00

Holdings After Transaction: Class A Common Stock — 138,026 shares (Direct)

Footnotes (1)

1. F1. Represents restricted stock units awarded as part of the Issuer's non-employee director compensation program. Units automatically convert to Issuer common stock upon vesting on a one-to-one basis. Award will fully vest on the date of the Issuer's next annual stockholders' meeting.

Key Figures

RSU grant size: 23,429 shares Grant price: $0.00 per share Post-grant holdings: 138,026 shares +1 more

4 metrics

RSU grant size 23,429 shares Restricted stock units awarded to director James Peter Bush

Grant price $0.00 per share Equity compensation award, not an open-market purchase

Post-grant holdings 138,026 shares Class A Common Stock held directly after the award

Vesting event Next annual stockholders’ meeting Full vesting date for the RSU award

Key Terms

restricted stock units, non-employee director compensation program, Class A Common Stock, grant, award, or other acquisition

4 terms

restricted stock units financial

"Represents restricted stock units awarded as part of the Issuer's non-employee director compensation program."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

non-employee director compensation program financial

"Represents restricted stock units awarded as part of the Issuer's non-employee director compensation program."

Class A Common Stock financial

"Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did James Peter Bush report in his Form 4 for Global Business Travel Group (GBTG)?

James Peter Bush reported receiving 23,429 restricted stock units of Global Business Travel Group Class A Common Stock. The award is part of the non-employee director compensation program and converts to common stock one-for-one upon vesting, with no cash purchase involved.

How many GBTG shares does James Peter Bush hold after this Form 4 transaction?

After the reported award, James Peter Bush directly holds 138,026 shares of Global Business Travel Group Class A Common Stock. This total includes the newly granted 23,429 restricted stock units, which will convert into common shares when they vest according to the award terms.

What type of security was granted to James Peter Bush by Global Business Travel Group (GBTG)?

He received restricted stock units linked to Global Business Travel Group Class A Common Stock. Each unit automatically converts into one share of common stock upon vesting, aligning director compensation with shareholder value without requiring a cash payment per share at grant.

When will James Peter Bush’s Global Business Travel Group RSU award vest?

The restricted stock unit award granted to James Peter Bush will fully vest on the date of Global Business Travel Group’s next annual stockholders’ meeting. At that time, the RSUs convert into an equal number of Class A Common shares on a one-to-one basis automatically.

Was James Peter Bush’s GBTG Form 4 transaction an open-market stock purchase or sale?

No, the transaction reflects a grant of 23,429 restricted stock units as compensation, not an open-market trade. The Form 4 shows a zero dollar price per share and describes the code as a grant or award acquisition rather than a discretionary buy or sell.

What is the significance of the zero price per share in James Peter Bush’s GBTG Form 4?

The zero price per share indicates that the 23,429 units were granted as equity compensation rather than purchased for cash. These restricted stock units convert to Class A Common Stock upon vesting and represent part of the standard non-employee director compensation structure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/15/2026 - 04:25 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Bush James Peter

(Last) (First) (Middle)

C/O GLOBAL BUSINESS TRAVEL GROUP, INC.

666 THIRD AVENUE

(Street)

NEW YORK NEW YORK 10017

(City) (State) (Zip)

UNITED STATES

(Country)

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	05/13/2026		A		23,429(1)	A	$0.00	138,026	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. Represents restricted stock units awarded as part of the Issuer's non-employee director compensation program. Units automatically convert to Issuer common stock upon vesting on a one-to-one basis. Award will fully vest on the date of the Issuer's next annual stockholders' meeting.

Remarks:

	Jennifer Giampietro, as Attorney-in-Fact	05/15/2026
	** 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.
* Form 4: SEC 1474 (03-26)