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AVIS BUDGET GROUP, INC. — Director's Dealing 2016
May 9, 2016
30956_dirs_2016-05-09_ca39f6d3-5e82-4a60-a681-f353949f3102.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: 2016-05-04
Reporting Person: SRS Investment Management, LLC (10% Owner)
Holdings (Non-Derivative)
| Security | Shares | Ownership |
|---|---|---|
| Common Stock, par value $0.01 | 9500000 | Indirect |
Holdings (Derivative)
| Security | Exercise Price | Expiration | Underlying | Shares | Ownership |
|---|---|---|---|---|---|
| Equity Swap (obligation to buy) | $40.0268 | 2018-08-21 | Common Stock, par value $0.01 (1396162) | Indirect | |
| Equity Swap (obligation to buy) | $40.1486 | 2018-08-21 | Common Stock, par value $0.01 (1602078) | Indirect | |
| Equity Swap (obligation to buy) | $35.3053 | 2020-05-18 | Common Stock, par value $0.01 (2464608) | Indirect | |
| Equity Swap (obligation to buy) | $32.5618 | 2020-05-18 | Common Stock, par value $0.01 (2240969) | Indirect | |
| Equity Swap (obligation to buy) | $37.3707 | 2018-12-18 | Common Stock, par value $0.01 (1000000) | Indirect | |
| Equity Swap (obligation to buy) | $36.9352 | 2018-10-02 | Common Stock, par value $0.01 (1750723) | Indirect | |
| Equity Swap (obligation to buy) | $27.5697 | 2019-01-11 | Common Stock, par value $0.01 (45460) | Indirect | |
| Equity Swap (obligation to buy) | $24.3002 | 2017-04-17 | Common Stock, par value $0.01 (842959) | Indirect | |
| Equity Swap (obligation to buy) | $24.3158 | 2017-04-12 | Common Stock, par value $0.01 (953224) | Indirect | |
| Equity Swap (obligation to buy) | $25.893 | 2018-02-28 | Common Stock, par value $0.01 (24755) | Indirect | |
| Equity Swap (obligation to buy) | $25.9966 | 2018-02-28 | Common Stock, par value $0.01 (20109) | Indirect | |
| Equity Swap (obligation to buy) | $26.1448 | 2018-03-02 | Common Stock, par value $0.01 (21894) | Indirect | |
| Equity Swap (obligation to buy) | $23.8819 | 2018-02-27 | Common Stock, par value $0.01 (2565) | Indirect | |
| Equity Swap (obligation to buy) | $23.5233 | 2018-02-28 | Common Stock, par value $0.01 (134494) | Indirect |
Footnotes
F1: SRS Investment Management, LLC, a Delaware limited liability company, ("SRS") serves as investment manager to certain investment funds (the "Funds") and has investment discretion with respect to the securities reported herein which are held by the Funds. SRS Investment Management, LP ("SRS IM"), a Delaware limited partnership, is the managing member of the Investment Manager. SRS Investment Management GP, LLC, a Delaware limited liability company ("SRS IM GP"), is the general partner of SRS IM. Karthik R. Sarma, an Indian citizen ("Mr. Sarma," and together with SRS, the "Reporting Persons") is the managing member and principal of SRS IM GP. In such capacities, Mr. Sarma and the Investment Manager may be deemed to have voting and dispositive power with respect to the shares of Common Stock held for the Funds.
F2: The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein.
F3: These cash-settled equity swaps can be settled at any time before the expiration date.