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AVIS BUDGET GROUP, INC. — Director's Dealing 2013
Feb 15, 2013
30956_dirs_2013-02-15_7df91f6f-12a9-45a1-8829-c9aa50bb57ac.zip
Director's Dealing
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SEC Form 3 — Initial Statement of Beneficial Ownership
Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2013-02-11
Reporting Person: Linnen Edward P (SVP, Chief HR Officer)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 9958 | Direct |
| Common Stock | 3496 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Restricted Stock Units | $0 | Common Stock (3243) | Direct | ||
| Restricted Stock Units | $0 | Common Stock (7778) | Direct | ||
| Restricted Stock Units | $0 | Common Stock (9906) | Direct | ||
| Performance Based Restricted Stock Units | $0 | Common Stock (4170) | Direct | ||
| Performance Based Restricted Stock Units | $0 | Common Stock (5000) | Direct | ||
| Performance Based Restricted Stock Units | $0 | Common Stock (6368) | Direct |
Footnotes
F1: Original grant vests in three equal installments. The first two installments vested on January 26, 2012 and January 26, 2013, and the final installment vests on January 26, 2014.
F2: Original grant vests in three equal installments. The first installment vested on January 25, 2013, the next two installments vest on January 25, 2014 and January 25, 2015.
F3: Grant vests in three equal installments on January 23, 2014, 2015 and 2016.
F4: Between 50% and 100% of the units will vest on January 26, 2014, if the per-share average closing price of the Company's common stock equals or exceeds a minimum threshold price of $17.63 and a maximum target price of $19.68 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.
F5: Between 50% and 100% of the units will vest on January 25, 2015, if the average per-share closing price of the Company's common stock equals or exceeds a minimum threshold price of $17.64 and a maximum target price of $19.69 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 the average per-share closing price between the threshold and target prices shall be determined on a pro rata basis using straight line interpolation.
F6: Units vest on January 23, 2016 based on the Company's attainment of pre-established financial performance goals.
F7: Expiration date not applicable.
F8: Units convert to Common Stock on a one-to-one basis upon vesting.