Knighthead, Certares group reports 58.1% Hertz Global (HTZ) stake

Rhea-AI Filing Summary

Hertz Global Holdings’ major shareholders have updated their ownership disclosure without changing their position. Investment entities including CK Amarillo, CK Amarillo GP, Certares Opportunities LLC and Knighthead Capital Management report shared beneficial ownership of 181,455,469 shares of Hertz common stock.

This amounts to approximately 58.1% of Hertz’s outstanding common shares, based on 312,360,678 shares reported as outstanding as of February 19, 2026. The amendment states the change is solely due to the updated share count in Hertz’s latest annual report, with no new transactions in the prior 60 days and no other material changes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

Hertz Global Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

Laura Torrado
c/o Knighthead Capital Management, LLC, 320 Park Avenue, 28th Floor
New York, NY, 10022
(212) 356-2900

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/26/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

CK Amarillo LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 181,455,469.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 181,455,469.00

11

Aggregate amount beneficially owned by each reporting person

181,455,469.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

58.1 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

(1) The amount beneficially owned consists of 181,455,469 shares of Common Stock. (2) The percentage of the shares of Common Stock reported beneficially owned by the Reporting Person is based on information provided by the Issuer in its annual report on Form 10-K filed on February 26, 2026, reflecting 312,360,678 shares of Common Stock issued and outstanding as of February 19, 2026.

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

CK Amarillo GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 181,455,469.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 181,455,469.00

11

Aggregate amount beneficially owned by each reporting person

181,455,469.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

58.1 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

(1) The amount beneficially owned consists of 181,455,469 shares of Common Stock. (2) The percentage of the shares of Common Stock reported beneficially owned by the Reporting Person is based on information provided by the Issuer in its annual report on Form 10-K filed on February 26, 2026, reflecting 312,360,678 shares of Common Stock issued and outstanding as of February 19, 2026.

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

Certares Opportunities LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 181,455,469.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 181,455,469.00

11

Aggregate amount beneficially owned by each reporting person

181,455,469.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

58.1 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

(1) The amount beneficially owned consists of 181,455,469 shares of Common Stock. (2) The percentage of the shares of Common Stock reported beneficially owned by the Reporting Person is based on information provided by the Issuer in its annual report on Form 10-K filed on February 26, 2026, reflecting 312,360,678 shares of Common Stock issued and outstanding as of February 19, 2026.

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

Knighthead Capital Management, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 181,455,469.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 181,455,469.00

11

Aggregate amount beneficially owned by each reporting person

181,455,469.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

58.1 %

14

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person:

(1) The amount beneficially owned consists of 181,455,469 shares of Common Stock. (2) The percentage of the shares of Common Stock reported beneficially owned by the Reporting Person is based on information provided by the Issuer in its annual report on Form 10-K filed on February 26, 2026, reflecting 312,360,678 shares of Common Stock issued and outstanding as of February 19, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.01 per share
(b)	Name of Issuer: Hertz Global Holdings, Inc.
(c)	Address of Issuer's Principal Executive Offices: 8501 Williams Road, Estero, FLORIDA , 33928.
Item 1 Comment: The information set forth in response to each separate Item below shall be deemed to be a response to all Items where such information is relevant. This Amendment No. 9 ("Amendment No. 9") amends the Schedule 13D filed with the SEC on July 12, 2021 (the "Original Schedule 13D"), as amended by Amendment No. 1, filed with the SEC on November 16, 2021, Amendment No. 2, filed with the SEC on August 1, 2022, Amendment No. 3, filed with the SEC on October 28, 2022, Amendment No. 4, filed with the SEC on February 7, 2023, Amendment No. 5, filed with the SEC on April 27, 2023, Amendment No. 6, filed with the SEC on November 7, 2023, Amendment No. 7, filed with the SEC on July 2, 2024, and Amendment No. 8, filed with the SEC on March 26, 2025 (together with the Original Schedule 13D, the "Schedule 13D") relating to the Common Stock of Hertz Global Holdings, Inc., a Delaware corporation (the "Issuer" or the "Company"). Except as set forth herein, the Schedule 13D is unmodified and remains in full force and effect. Capitalized terms used herein and not otherwise defined in this Amendment No. 9 have the meanings set forth in the Schedule 13D.
Item 2.	Identity and Background
(b)	The information set forth in Item 2(b) of the Schedule 13D is amended and restated in its entirety as follows: The address of the principal business and principal office of Knighthead, CK GP and CK Amarillo is c/o Knighthead Capital Management, LLC, 320 Park Avenue, 28th Floor, New York, NY 10022. The address of the principal business and principal office of Certares is c/o Certares Opportunities LLC, 350 Madison Avenue, 8th Floor, New York, New York 10017.
Item 5.	Interest in Securities of the Issuer
(a)	The information set forth in Item 5 of the Schedule 13D is amended as follows: The information related to the beneficial ownership of the shares of Common Stock by each of the Reporting Persons set forth in Rows 7 through 13 of the cover pages hereto is incorporated by reference herein and is as of the date hereof. The Reporting Persons share beneficial ownership of 181,455,469 shares of Common Stock, representing approximately 58.1% of the Issuer's Common Stock based on 312,360,678 shares of Common Stock outstanding as of February 19, 2026, as reported in the Issuer's most recent Form 10-K, filed with the SEC on February 26, 2026. This Amendment No. 9 is being filed to reflect a change in the percentage previously reported solely as a result of the change in the outstanding shares of Common Stock reported by the Issuer in the Form 10-K. There are no other material changes to the information previously reported or transactions within the prior 60 days to disclose. Neither the filing of this Statement nor any of its contents shall be deemed to constitute an admission by any of the Reporting Persons that such person is the beneficial owner of any of the shares of Common Stock referred to herein for purposes of the Act, or for any other purpose.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

CK Amarillo LP

Signature:	/s/ Tom LaMacchia
Name/Title:	Tom LaMacchia, Authorized Signatory of CK Amarillo GP, LLC, General Partner of CK Amarillo LP
Date:	03/02/2026

Signature:	/s/ Laura Torrado
Name/Title:	Laura Torrado, Authorized Signatory of CK Amarillo GP, LLC, General Partner of CK Amarillo LP
Date:	03/02/2026

CK Amarillo GP, LLC

Signature:	/s/ Tom LaMacchia
Name/Title:	Tom LaMacchia, Authorized Signatory
Date:	03/02/2026

Signature:	/s/ Laura Torrado
Name/Title:	Laura Torrado, Authorized Signatory
Date:	03/02/2026

Certares Opportunities LLC

Signature:	/s/ Tom LaMacchia
Name/Title:	Tom LaMacchia, Managing Director & General Counsel, Certares Management LLC, Sole Member of Certares Opportunities LLC
Date:	03/02/2026

Knighthead Capital Management, LLC

Signature:	/s/ Laura Torrado
Name/Title:	Laura Torrado, General Counsel
Date:	03/02/2026

FAQ

What ownership stake in Hertz Global (HTZ) is reported in this Schedule 13D/A?

The reporting group discloses beneficial ownership of 181,455,469 Hertz Global common shares. This represents approximately 58.1% of the company’s outstanding stock, based on 312,360,678 shares reported as outstanding as of February 19, 2026 in Hertz’s latest annual report.

Which entities are included in the Hertz Global (HTZ) Schedule 13D/A reporting group?

The filing identifies CK Amarillo, CK Amarillo GP, Certares Opportunities LLC and Knighthead Capital Management, LLC as reporting persons. Each is shown with shared voting and dispositive power over the same 181,455,469 Hertz Global common shares, indicating coordinated beneficial ownership disclosure.

Did the Hertz Global (HTZ) reporting group buy or sell shares before this Amendment No. 9?

The amendment states there were no reportable transactions in the 60 days before filing. It explains that the only change from prior ownership percentages arises from Hertz’s updated outstanding share count in its most recent Form 10-K, not from new share purchases or sales.

Why did the beneficial ownership percentage for Hertz Global (HTZ) change in this filing?

The percentage changed because Hertz reported a new total of 312,360,678 shares outstanding. The reporting group still holds 181,455,469 shares, but this now equals about 58.1% of the company. The amendment clarifies that the shift is due solely to the updated share count, not trading activity.

What voting and dispositive powers over Hertz Global (HTZ) shares are reported?

Each reporting person lists zero sole voting and dispositive power, and 181,455,469 shares of shared voting and shared dispositive power. This means decisions over these Hertz Global shares are exercised jointly, consistent with group beneficial ownership under Section 13(d) reporting rules.

Does the Hertz Global (HTZ) Schedule 13D/A Amendment No. 9 change prior disclosures?

The amendment largely reaffirms prior disclosures, updating only the ownership percentage. It states there are no other material changes to previously reported information, and emphasizes that the new 58.1% figure results from Hertz’s revised outstanding share count disclosed in its latest Form 10-K.