Hertz Global Holdings, Inc. entered a joint venture arrangement related to Oro Mobility Holdings LLC on October 16, 2026. Before the investor purchase, Hertz transferred certain assets relating to its Oro Mobility business that the JV Entity did not already own, together with approximately $60.03 million in cash. The JV Investors agreed to purchase Class A Common Units from Hertz for approximately $80.89 million in cash; those units represent 50% of voting units and approximately 15.86% of common units, before dilution from the JV Entity’s management incentive plan. Hertz also agreed to repurchase approximately $51.1 million aggregate principal amount of Exchangeable Notes for approximately $20.86 million, a 60% discount to par. CK Amarillo, CK Amarillo GP, LLC, Certares Opportunities LLC, and Knighthead Capital Management, LLC each reported beneficial ownership of 181,455,469 shares, or 50.9% of the class, based on 356,451,393 shares outstanding as of July 30, 2026. The JV Entity will have a six-person board, with Hertz and the JV Investors each entitled to designate three members; the LLC Agreement is effective as of October 19, 2026. Tom LaMacchia, Managing Director & General Counsel of Certares Management LLC, sole member of Certares Opportunities LLC, and Laura Torrado, General Counsel, signed the amendment.
Hertz Global Holdings, Inc. (HTZ), through The Hertz Corporation, formed Oro Mobility Holdings LLC with investors including Cohen Private Ventures and certain funds or accounts affiliated with Certares Opportunities LLC and/or Knighthead Capital Management, LLC or an affiliate. On October 19, 2026, investors paid approximately $80.89 million for Class A Common Units representing 50% of voting rights and approximately 15.86% of economic rights before any dilution from Oro’s management incentive plan. Hertz transferred Oro Business assets and approximately $60.03 million in cash to Oro and retained majority economic ownership.
Hertz also repurchased approximately $51.1 million aggregate principal amount of its 8.000% Exchangeable Senior Second-Lien Secured Paid-in-Kind Notes due 2029 for approximately $20.86 million, a 60% discount to par. Oro has a six-person board, with three designees each from Hertz and the JV Investors.
Hertz will lease or sublease vehicles to Oro for approximately $13.7 million per month, with an average term of approximately 4.5 years. Hertz will provide corporate, operational, fleet and technology services; information technology, corporate security and systems support services are expected to transition within 12 months. A license for certain Oro composite marks has an initial 24-month term, subject to extension, and requires a 0.5% royalty on new rental customer revenue.
Hertz Global Holdings appointed Joseph R. Hinrichs as a Class I director effective October 9, 2026; he will serve on the Audit and Risk Committee. His standard compensation as a non-employee director consists of an annual restricted stock unit grant valued at $175,000 and an annual cash retainer of $100,000, subject to continued director service. Hinrichs also entered into an indemnification agreement with the company.
Hertz Global Holdings, Inc. (HTZ) reported that, effective at the close of business on October 1, 2026, Thomas Wagner, Knighthead’s co-founder and co-managing member, resigned from the board, and the board appointed Adam Zirkin, a Knighthead member, as a director.
CK Amarillo, CK Amarillo GP, LLC, Certares Opportunities LLC, and Knighthead Capital Management, LLC each reported beneficial ownership of 181,455,469 common shares, representing 50.9% of the class, with shared voting and dispositive power. The percentage is based on 356,451,393 shares issued and outstanding as of July 30, 2026. Wagner continues to serve on CK Amarillo’s investment committee.
Hertz Global Holdings, Inc. SVP, Chief Accounting Officer Mark Kosman had 15,205 common shares withheld on October 1, 2026, to satisfy certain tax withholding obligations related to the vesting of restricted stock units granted on October 1, 2025. His reported direct holdings after the transaction were 172,485 common shares. The reported transaction price was $1.73 per share; no Rule 10b5-1 plan is reported.
Hertz Global Holdings, Inc. EVP, Chief Operating Officer Michael S. Moore reported that 19,375 shares of common stock were withheld on October 1, 2026, to satisfy tax withholding obligations related to restricted stock units granted on October 1, 2025. The reported per-share price was $1.73; Moore reported direct holdings of 958,986 shares after the transaction.
Hertz Global Holdings, Inc. (HTZ) EVP, Chief Admin. Officer Christopher G. Berg received an award covering 578,035 shares of common stock underlying restricted stock units on October 1, 2026. His reported direct holdings following the award were 1,217,589 shares.
Hertz Global Holdings, Inc. (HTZ) is identified as the issuer in a Form 3 naming director Robert Emerson Davis as a reporting person.