Linnen Edward P 4

What Happened

• Edward P. Linnen, EVP and Chief HR Officer of Avis Budget Group (CAR), had restricted stock units (and related dividend equivalent units) convert into common stock upon vesting on March 9, 2026. The filing shows transactions totaling 1,094 shares reported in connection with the vesting/conversion events (547, 519 and 28-share entries). To cover tax withholding, 172 shares were surrendered/withheld at $95.89 per share for a tax withholding value of $16,493. These transactions are vesting/conversion events rather than open-market purchases or voluntary sales by the insider.

Key Details

• Transaction date: March 9, 2026; Form 4 filed March 11, 2026 (timely).
• Reported entries: 547 shares acquired via conversion (derivative exercise/conversion), and additional 519 and 28-share derivative entries reported; 172 shares withheld/disposed for taxes at $95.89 each, totaling $16,493.
• Nature of awards: These were restricted stock units (RSUs) and dividend equivalent units (DEUs) that convert one-for-one to common stock on vesting (see footnotes F1, F5). The awards vested in accordance with a schedule that vests in three equal installments (footnote F3), with this filing reflecting the March 9, 2026 installment.
• Tax withholding: The 172-share disposition is a tax withholding/withholding-sale to satisfy tax obligations on vesting (transaction code F).
• Shares owned after the transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Filed two days after the vesting date (appears timely).

Context

• This was not a market buy or an investment sale: it reflects routine vesting of equity awards and the common practice of surrendering shares to satisfy tax withholding. Such transactions are standard compensation events for executives and do not by themselves indicate a change in insider sentiment.