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AVIS BUDGET GROUP, INC. — Director's Dealing 2015
Jan 28, 2015
30956_dirs_2015-01-28_52ba5965-88cc-4de9-bf9f-80fdce8c8c9c.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: 2015-01-26
Reporting Person: NELSON RONALD L (Director, Chariman, CEO and President)
Non-Derivative Transactions
| Date | Security | Code | Shares | Price | A/D | Holdings After | Ownership |
|---|---|---|---|---|---|---|---|
| 2015-01-26 | Common Stock | M | 46663 | — | Acquired | 703122 | Direct |
| 2015-01-26 | Common Stock | F | 22711 | $60.91 | Disposed | 680411 | Direct |
| 2015-01-27 | Common Stock | M | 150000 | — | Acquired | 830411 | Direct |
| 2015-01-27 | Common Stock | F | 77775 | $60.65 | Disposed | 752636 | Direct |
| 2015-01-27 | Common Stock | M | 34608 | — | Acquired | 787244 | Direct |
| 2015-01-27 | Common Stock | F | 17945 | $60.65 | Disposed | 769299 | Direct |
Derivative Transactions
| Date | Security | Exercise Price | Code | Shares | A/D | Expiration | Underlying | Ownership |
|---|---|---|---|---|---|---|---|---|
| 2015-01-26 | Restricted Stock Units | $0.0 | M | 46663 | Disposed | Common Stock (46663.0) | Direct | |
| 2015-01-27 | Performance Based Restricted Stock Units | $0.0 | M | 150000 | Disposed | Common Stock (150000.0) | Direct | |
| 2015-01-27 | Restricted Stock Units | $0.0 | M | 34608 | Disposed | Common Stock (34608.0) | Direct |
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock | 15472 | 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 46,663 shares of restricted stock units.
F3: Represents tax withholdings in connection with the vesting of 150,000 shares of restricted stock units.
F4: Represents tax withholdings in connection with the vesting of 34,608 shares of restricted stock units.
F5: Securities are held by a family trust. Mr. Nelson's wife is a trustee of the trust. Mr. Nelson disclaims beneficial ownership of the securities held by the trust, and the filing of this report is not an admission that Mr. Nelson is the beneficial owner of the securities for purposes of Section 16 or for any other purpose.
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.
F7: Expiration date not applicable.
F8: Between 50% and 100% of the units will vest on the fifth anniversary of the date of grant if the per-share 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 fifth 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.