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AVIS BUDGET GROUP, INC. — Director's Dealing 2015
Jan 27, 2015
30956_dirs_2015-01-27_3d6c0f5f-4752-4910-a270-2b926f0ffb06.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: 2015-01-23
Reporting Person: Ferraro Joseph A. (President, Americas)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2015-01-23 | Common Stock | M | 4127 | — | Acquired | 15519 | Direct |
| 2015-01-23 | Common Stock | F | 1526 | $61.27 | Disposed | 13993 | Direct |
| 2015-01-25 | Common Stock | M | 5672 | — | Acquired | 19665 | Direct |
| 2015-01-25 | Common Stock | F | 2097 | $61.27 | Disposed | 17568 | Direct |
| 2015-01-25 | Common Stock | M | 7292 | — | Acquired | 24860 | Direct |
| 2015-01-25 | Common Stock | F | 3234 | $61.27 | Disposed | 21626 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2015-01-23 | Restricted Stock Units | $0.0 | M | 4127 | Disposed | Common Stock (4127.0) | Direct | |
| 2015-01-25 | Restricted Stock Units | $0.0 | M | 5672 | Disposed | Common Stock (5672.0) | Direct | |
| 2015-01-25 | 2012 Performance Based Restricted Stock Units | $0.0 | M | 7292 | Disposed | Common Stock (7292.0) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 2476 | Indirect |
Footnotes
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 4,127 shares of restricted stock units.
F3: Represents tax withholdings in connection with the vesting of 5,672 shares of restricted stock units.
F4: Represents tax withholdings in connection with the vesting of 7,292 shares of restricted stock units.
F5: Award vests in two equal installments on January 23, 2015 and 2016.
F6: Expiration date not applicable.
F7: 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.