AVIS BUDGET GROUP, INC. — Director's Dealing 2016

Feb 26, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2016-02-24

Reporting Person: NELSON RONALD L (Director, Executive Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-02-24	Common Stock	M	44975	—	Acquired	903176	Direct
2016-02-24	Common Stock	F	22915	$22.04	Disposed	880261	Direct
2016-02-24	Common Stock	M	29181	—	Acquired	909442	Direct
2016-02-24	Common Stock	F	14868	$22.04	Disposed	894574	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-02-24	2014 Performance Based Restricted Stock Units	$0.0	M	44975	Disposed		Common Stock (44975.0)	Direct
2016-02-24	2015 Performance Based Restricted Stock Units	$0.0	M	29181	Disposed		Common Stock (29181.0)	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 restricted stock units.

F3: 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.

F4: Partial vesting occurred based on achievement of performance criteria not tied to total shareholder return ("TSR"). Remaining units continue to be eligible to vest according to previously reported relative TSR thresholds compared to the Russell 1000 Index.

F5: Expiration date not applicable.