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AVIS BUDGET GROUP, INC. — Director's Dealing 2010
Apr 23, 2010
30956_dirs_2010-04-23_7aca86bf-8d6a-42a1-b811-b109e846644d.zip
Director's Dealing
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SEC Form 4 — Statement of Changes in Beneficial Ownership
Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2010-04-21
Reporting Person: Tucker Michael K (EVP and General Counsel)
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2010-04-21 | Restricted Stock Units | $0 | A | 11946 | Acquired | Common Stock (11946) | Direct | |
| 2010-04-21 | Performance Based Restricted Stock Units | $0 | A | 5119 | Acquired | Common Stock (5119) | Direct |
Footnotes
F1: Units covert to Common Stock on a one-to-one basis upon vesting.
F2: Grant vests in three equal installments on April 21, 2011, 2012 and 2013.
F3: Between 50% and 100% of the units will vest on the third anniversary of the date of grant if the per-share closing price of the Company's common stock equals or exceeds a minimum threshold price of $17.95 and a maximum target price of $20.04 over any consecutive 30 trading days between the grant date and the third anniversary of the date of grant. The actual number of units that vest, based on closing prices that are between the threshold and target prices shall be determined on a pro rata basis using straight line interpolation.
F4: Expiration date not applicable.