AVIS BUDGET GROUP, INC. — Director's Dealing 2017

Mar 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2017-03-01

Reporting Person: De Shon Larry D (Director, CEO and COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-01	Common Stock	M	15893	—	Acquired	244695	Direct
2017-03-01	Common Stock	F	8098	$34.41	Disposed	236597	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-01	Performance Based Restricted Stock Units	$0.0	M	15893	Disposed		Common Stock (15893.0)	Direct
2017-03-01	Performance Based Restricted Stock Units	$0.0	A	95902	Acquired		Common Stock (95902.0)	Direct
2017-03-01	Restricted Stock Units	$0.0	A	63935	Acquired		Common Stock (63935.0)	Direct

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: Units vested on March 1, 2017 based on the Company's attainment of pre-established financial performance goals.

F4: Expiration date not applicable.

F5: Units vest on March 1, 2020 based on the Company's attainment of pre-established performance goals. The number of units which could vest range from zero to of 200% of the target number of units reported above depending on achievement of such performance goals.

F6: Units vest in three equal installments on March 1, 2018, 2019 and 2020.