Choi Brian J 4

What Happened

• Brian J. Choi, CEO of Avis Budget Group, received two equity awards on March 17, 2026. Each award is for 26,993 restricted stock units (RSUs), for a combined total of 53,986 RSUs. The grants were reported as awards/acquisitions at $0.00 (typical for RSU grants); they are derivative securities that convert to common stock upon vesting on a one-to-one basis.

Key Details

• Transaction date: 2026-03-17; Form filed 2026-03-19 (timely).
• Grant details: two awards of 26,993 RSUs each (total 53,986 RSUs); acquisition price reported $0.00.
• Vesting: one grant vests in three equal installments on March 17 of 2027, 2028 and 2029 (time-based). The other grant vests on March 17, 2029 subject to pre-established performance goals; payout may range from 0% to 150% of target based on achievement.
• Conversion: RSUs automatically convert to common stock on a one-to-one basis upon vesting (F1).
• Expiration: not applicable for RSUs (F3).
• Shares owned after the transaction: not specified in this Form 4.
• Transaction code: A = Award/Grant.

Context

• These are compensation awards (RSUs), not open-market purchases or sales. Such grants are routine for executive pay and do not by themselves indicate a buy/sell signal. Performance-based RSUs may result in more or fewer shares vesting depending on company performance through 2029.