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

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2016-01-21

Reporting Person: Ferraro Joseph A. (President, Americas)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-01-21	Common Stock	M	5449	—	Acquired	27075	Direct
2016-01-21	Common Stock	F	2198	$25.27	Disposed	24877	Direct
2016-01-22	Common Stock	M	2835	—	Acquired	27712	Direct
2016-01-22	Common Stock	F	1035	$26.08	Disposed	26677	Direct
2016-01-23	Common Stock	M	4128	—	Acquired	30805	Direct
2016-01-23	Common Stock	F	1527	$26.08	Disposed	29278	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Underlying	Ownership
2016-01-21	Restricted Stock Units	$0.0	M	5449	Disposed	Common Stock (5449.0)	Direct
2016-01-22	Restricted Stock Units	$0.0	M	2835	Disposed	Common Stock (2835.0)	Direct
2016-01-23	Restricted Stock Units	$0.0	M	4128	Disposed	Common Stock (4128.0)	Direct

Security	Shares	Ownership
Common Stock	2476	Indirect

F1: Represents restricted stock units which automatically converted 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 5,449 restricted stock units.

F3: Represents tax withholdings in connection with the vesting of 2,835 restricted stock units.

F4: Represents tax withholdings in connection with the vesting of 4,128 restricted stock units.

F5: Original grant was awarded in 2015 and vests in three equal installments on January 21, 2016, 2017 and 2018.

F6: Expiration date not applicable.

F7: Original grant was awarded in 2014 and vests in three equal installments on January 22, 2015, 2016 and 2017.

F8: Original grant was awarded in 2013 and vested in two equal installments on January 23, 2015 and 2016.