AVIS BUDGET GROUP, INC. - Director's Dealing 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2014-01-22

Reporting Person: De Shon Larry D (President, EMEA)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-01-23	Common Stock	M	9434	—	Acquired	129255	Direct
2014-01-23	Common Stock	F	3599	$40.07	Disposed	125656	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Underlying	Ownership
2014-01-22	Restricted Stock Units	$0.0	A	14581	Acquired	Common Stock (14581.0)	Direct
2014-01-22	Performance Based Restricted Stock Units	$0.0	A	21871	Acquired	Common Stock (21871.0)	Direct
2014-01-22	Restricted Stock Units	$0.0	A	12151	Acquired	Common Stock (12151.0)	Direct
2014-01-22	Performance Based Restricted Stock Units	$0.0	A	18226	Acquired	Common Stock (18226.0)	Direct
2014-01-23	Restricted Stock Units	$0.0	M	9434	Disposed	Common Stock (9434.0)	Direct

F1: Represents restricted stock units which automatically convert to Common Stock upon the vesting of such units on a one-to-one basis.

F2: Represents tax withholdings in connection with the vesting of 9,434 shares of restricted stock units.

F3: Grant vests in three equal installments on January 22, 2015, 2016 and 2017.

F4: Expiration date not applicable.

F5: Units vest on January 22, 2017 based on the Company's attainment of pre-established financial performance goals.

F6: Units vest on January 22, 2016 based on the Company's attainment of pre-established financial performance goals.

F7: Grant vests in three equal installments on January 23, 2014, 2015 and 2016.