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AVIS BUDGET GROUP, INC. — Director's Dealing 2011
Jan 28, 2011
30956_dirs_2011-01-28_dbc3af79-2a2a-48d7-995a-7e996fff100d.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: 2011-01-26
Reporting Person: NELSON RONALD L (Director, Chariman and CEO)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2011-01-27 | Common Stock | M | 200000 | — | Acquired | 355527 | Direct |
| 2011-01-27 | Common Stock | F | 82630 | $14.60 | Disposed | 272897 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2011-01-26 | Restricted Stock Units | $0 | A | 31109 | Acquired | Common Stock (31109) | Direct | |
| 2011-01-26 | Performance Based Restricted Stock Units | $0 | A | 46663 | Acquired | Common Stock (46663) | Direct | |
| 2011-01-26 | Performance Based Restricted Stock Units | $0 | A | 46663 | Acquired | Common Stock (46663) | Direct | |
| 2011-01-27 | Restricted Stock Units | $0 | M | 200000 | Disposed | Common Stock (200000) | Direct |
Footnotes
F1: Represents restricted stock units which automatically converted to Common Stock upon the vesting of such units on a one-to-one basis.
F2: Units convert to Common Stock on a one-to-one basis upon vesting.
F3: Represents tax withholdings in connection with the vesting of 200,000 shares of restricted stock units.
F4: Expiration date not applicable.
F5: Between 50% and 100% of the units will vest on the third anniversary of the date of grant if the per-share average closing price of the Company's common stock equals or exceeds a minimum threshold price of $15.69 and a maximum target price of $18.47 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.
F6: Between 50% and 100% of the units will vest on the fourth anniversary of the date of grant if the per-share average closing price of the Company's common stock equals or exceeds a minimum threshold price of $16.31 and a maximum target price of $19.62 over any consecutive 30 trading days between the grant date and the fourth 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.