Pahwa Jagdeep 4

4 · AVIS BUDGET GROUP, INC. · Filed Mar 19, 2026

AI-generated summary of this filing

Updated Mar 19, 2026

Avis Budget Exec Chairman Pahwa Exercises/Receives RSUs; 4,385 Shares Withheld

What Happened

Jagdeep Pahwa, Executive Chairman and Director of Avis Budget Group (CAR), reported the vesting/conversion of restricted stock units (RSUs) and related derivative units on 2026-03-17. The filing shows acquisitions/conversions of 62,381 shares (13,303 + 24,539 + 24,539) from awards/derivative conversions and the withholding/disposition of 4,385 shares to satisfy tax obligations, generating approximately $436,571 in tax withholdings.

Key Details

Transaction date: March 17, 2026; Form filed March 19, 2026 (no late filing indicated).
Acquisitions/conversions reported: 13,303 shares (conversion/exercise) and two awards of 24,539 shares each — total 62,381 shares acquired/converted.
Disposition for tax withholding: 4,385 shares withheld/disposed at $99.56/share = ~$436,571 (code F = tax withholding).
Some derivative/system entries show conversion/exercise activity (code M) and award/grant activity (code A).
Filing footnotes: RSUs convert 1:1 to common stock on vesting (F1); shares were withheld to cover taxes (F2); remaining units have future vesting schedules (installments in 2027–2029 and performance-based vesting through 2029, F3–F6).
Shares owned after the transaction are not specified in the excerpt provided.

Context

This appears to be routine compensation-related activity: RSUs/derivative units vesting and converting into common shares, with a portion withheld to meet tax obligations (a common practice, not an open-market sale). The withholding disposition (F) is different from an open-market sale (S) — it simply settles taxes rather than signaling a discretionary sell by the insider.

Form 4

Period: 2026-03-17

DirectorExecutive Chairman

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-17+13,303→ 13,303 total
Tax Payment
Common Stock
[F2]
2026-03-17$99.56/sh−4,385$436,571→ 8,918 total
Award
Restricted Stock Units
[F1][F3][F4]
2026-03-17+24,539→ 24,539 total
Exercise: $0.00→ Common Stock (24,539 underlying)
Award
Performance Based Restricted Stock Units
[F1][F5][F4]
2026-03-17+24,539→ 24,539 total
Exercise: $0.00→ Common Stock (24,539 underlying)
Exercise/Conversion
Restricted Stock Units
[F1][F6][F4]
2026-03-17−13,303→ 26,608 total
Exercise: $0.00→ Common Stock (13,303 underlying)

Footnotes (6)

[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 vest in equal installments on March 17, 2027, 2028 and 2029.
[F4]Expiration date not applicable.
[F5]Units will vest on March 17, 2029 based on the Company's level of attainment of pre-established performance goals. The number of units which could vest range from zero to 150% of the target number of units above, depending on the achievement of such performance goals.
[F6]This filing reports the settlement of restricted stock units that have become vested. The remaining units vest in equal installments on March 12, 2027 and 2028.

Signature

/s/ Jean M. Sera, by Power of Attorney for Jagdeep Pahwa|2026-03-19

1 file