AVIS BUDGET GROUP, INC. — Director's Dealing 2013

Apr 12, 2013

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2013-04-10

Reporting Person: SALERNO F ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-04-10	Common Stock	M	108696	$24.40	Acquired	118985	Direct
2013-04-10	Common Stock	D	91047	$29.13	Disposed	27938	Direct
2013-04-10	Common Stock	F	8221	$29.13	Disposed	19717	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2013-04-10	Stock-Settled Stock Appreciation Rights	$24.40	M	108696	Disposed	2013-08-01	Common Stock (108696)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6308	Indirect

Footnotes

F1: Represents exercise of stock-settled stock appreciation rights, which expire on August 1, 2013.

F2: The SSARs confer on the holder the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR.

F3: Represents tax withholdings in connection with the exercise of 108,696 stock-settled stock appreciated rights.