Hertz Global Holdings (NASDAQ: HTZ) gets $154M antitrust payout award

Rhea-AI Filing Summary

Hertz Global Holdings, Inc. and The Hertz Corporation disclosed that they will receive a pro rata settlement distribution of $154,054,348.07 in cash from their participation in the In re Automotive Parts Antitrust Litigation class action settlement. This represents a gross distribution of $171,171,497.85, reduced by fees owed to Hertz’s claims administrator, Class Action Capital Recovery, LLC. Hertz expects this settlement distribution to be paid on or around September 30, 2025, providing a significant one-time cash inflow unrelated to its core rental operations.

Insights

Equity & special situations analyst

Hertz projects a one-time cash inflow of about $154,054,348.07 from a class action settlement.

Hertz Global Holdings, Inc. and The Hertz Corporation are set to receive a settlement distribution of $154,054,348.07, tied to their role as a claimant in the In re Automotive Parts Antitrust Litigation. The amount reflects a gross distribution of $171,171,497.85 less fees to their claims administrator, Class Action Capital Recovery, LLC.

This is a non-operating, litigation-related cash inflow, so it affects liquidity and potentially leverage, but not the underlying strength of the core vehicle rental business. The company states that the distribution is expected on or around September 30, 2025, which gives a clear near-term timing marker for when the cash could appear on the balance sheet.

Subsequent financial reports covering periods after September 30, 2025 will indicate how this settlement is recorded in Hertz’s income statement and cash flow statement, and whether it is used for debt reduction, reinvestment, or other corporate purposes.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 23, 2025

HERTZ GLOBAL HOLDINGS, INC.

THE HERTZ CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

001-37665

61-1770902

Delaware

001-07541

13-1938568

(State or other jurisdiction of incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

8501 Williams Road

Estero, Florida 33928

239-301-7000

(Address, including Zip Code, and telephone number, including area code, of registrant's principal executive offices)

Not Applicable

Not Applicable

(Former name, former address and former fiscal year, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading Symbol(s)

Name of Each Exchange on which Registered

Hertz Global Holdings, Inc.

Common Stock

Par value $0.01 per share

HTZ

The Nasdaq Stock Market LLC

Hertz Global Holdings, Inc.

Warrants to purchase Common Stock

Each exercisable for one share of Hertz Global Holdings, Inc. common stock at an exercise price of $13.61 per share, subject to adjustment

HTZWW

The Nasdaq Stock Market LLC

The Hertz Corporation

None

None

None

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 8.01 Other Events

In re Automotive Parts Antitrust Litigation

On September 23, 2025, Hertz Global Holdings, Inc. and The Hertz Corporation (collectively, “Hertz”) received notice from the court-appointed Settlement Administrator, Epiq Class Action & Claims Solutions, Inc., that in connection with Hertz’s participation in a class action settlement in the In re Automotive Parts Antitrust Litigation, No. 2:12-md-02311 (E.D. Mich.), Hertz will receive a pro rata settlement distribution in an amount equal to $154,054,348.07 (the “Settlement Distribution”), which is the gross distribution of $171,171,497.85 less the applicable fees owed to Hertz’s claims administrator, Class Action Capital Recovery, LLC. Hertz expects the Settlement Distribution to be paid on our around September 30, 2025.

Item 9.01 Financial Statements and Exhibits.

Exhibit						Description
104.1						Cover page Interactive Date File (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, each registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			HERTZ GLOBAL HOLDINGS, INC. THE HERTZ CORPORATION
			(each, a Registrant)
Date: September 23, 2025			By:			/s/ Scott Haralson
			Name:			Scott Haralson
			Title:			Executive Vice President and Chief Financial Officer

FAQ

What settlement amount will Hertz (HTZWW) receive from the Automotive Parts Antitrust Litigation?

Hertz Global Holdings, Inc. and The Hertz Corporation will receive a pro rata settlement distribution of $154,054,348.07. This is described as the net amount after deducting applicable fees from a gross distribution of $171,171,497.85.

When does Hertz expect to receive the $154,054,348.07 settlement distribution?

Hertz states that it expects the $154,054,348.07 settlement distribution to be paid on or around September 30, 2025.

What is the source of the settlement funds Hertz will receive?

The funds come from Hertz’s participation in a class action settlement in the case In re Automotive Parts Antitrust Litigation, No. 2:12-md-02311 (E.D. Mich.), administered by Epiq Class Action & Claims Solutions, Inc.

Why is the Hertz settlement distribution lower than the gross amount mentioned?

The gross distribution is $171,171,497.85, but Hertz will receive $154,054,348.07 after deducting applicable fees owed to its claims administrator, Class Action Capital Recovery, LLC.

Does this settlement relate to Hertz’s core rental operations?

No. The settlement distribution arises from Hertz’s role as a claimant in the Automotive Parts Antitrust Litigation. It is a one-time, litigation-related cash inflow, not revenue from its ongoing car rental business.

Which entities are involved in administering Hertz’s settlement recovery?

The court-appointed Settlement Administrator is Epiq Class Action & Claims Solutions, Inc., and Hertz’s claims administrator is Class Action Capital Recovery, LLC, which receives fees deducted from the gross distribution.