AVIS BUDGET GROUP, INC. — Director's Dealing 2023

Dec 22, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVIS BUDGET GROUP, INC. (CAR)
CIK: 0000723612
Period of Report: 2023-12-21

Reporting Person: Hees Bernardo (Director, Executive Chairman)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-12-21	Common Stock	A	82	—	Acquired	1607	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-12-21	Dividend Equivalent Units	$0	A	2894	Acquired		Common Stock (2894)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	489960	Indirect

Footnotes

F1: On December 5, 2023, the Issuer announced that its Board of Directors declared a special cash dividend in the amount of $10.00 per share of its Common Stock, payable on December 21, 2023 to stockholders of record as of the close of business on December 15, 2023 (the "Dividend").

F2: Represents dividend equivalent units accrued as a result of the Dividend on restricted stock units awarded to the Reporting Person as part of the Company's non-employee director compensation program (the "Original RSUs"). Units automatically convert to Common Stock upon vesting or settlement, as applicable, on a one-to-one basis and, to the extent unvested, will fully vest on the same terms and conditions as the Original RSUs and, to the extent deferred under the Non-Employee Directors Deferred Compensation Plan, will be payable in accordance with the payment and/or deferral election made in accordance with the terms of the plan.

F3: Reflects shares held by the BHJH Master Trust LLC. By virtue of his position as chief investment adviser of BHJH Master Trust LLC, Bernardo Hees may be deemed to be a beneficial owner of the securities listed.

F4: Amount acquired represents dividend equivalent units accrued on restricted stock units and performance-based restricted stock units with respect to the Issuer's Common Stock (the "Original RSUs") held by the Reporting Person as a result of the Dividend. Each dividend equivalent unit is the economic equivalent of one share of the Issuer's Common Stock and entitles the Reporting Person to receive one share of Common Stock upon the settlement of the Original RSUs and is subject to same terms and conditions, including vesting and settlement, as the Original RSUs to which it relates.

F5: Expiration date not applicable.