Sera Jean M 4

4 · AVIS BUDGET GROUP, INC. · Filed Mar 11, 2026

AI-generated summary of this filing

Updated Mar 12, 2026

Avis Budget (CAR) SVP Sera Jean Exercises RSUs, Sells Shares for Taxes

What Happened

Sera Jean M, SVP, General Counsel, Chief Compliance Officer and Corporate Secretary of Avis Budget Group (CAR), had restricted stock units convert to common stock on March 9, 2026. The filing reports 421 shares acquired upon conversion (reported at $0 cost).
To cover tax withholding, 196 shares were disposed at $95.89 per share for total proceeds of $18,794. The filing also lists two derivative-related disposals of 399 and 22 shares (reported at $0), which are related to the unit conversions/settlement process.

Key Details

Transaction date: 2026-03-09.
Reported transactions:
- M (exercise/conversion): +421 shares acquired at $0.00 (RSU conversion).
- F (tax withholding): -196 shares disposed at $95.89, total = $18,794.
- M (derivative disposals): -399 shares and -22 shares reported at $0 (related to conversions/DEUs).
Shares owned after the transaction: Not specified in the provided filing summary.
Footnotes of note:
- F1: RSUs and dividend equivalent units (DEUs) convert one-for-one to common stock upon vesting/settlement.
- F2: The 196-share disposition represents tax withholdings related to vesting.
- F3: Units vest in three equal installments (Mar 9, 2024; 2025; 2026) — this filing reflects the 2026 vesting installment.
- F5: DEUs accrue on RSUs and vest/settle on the same schedule as related RSUs.
Timeliness: Filing does not indicate a late filing (no “L” flag noted).

Context

This was a vesting/settlement event for restricted stock units, not an open-market purchase or discretionary sale. The share disposals were primarily to satisfy tax withholding (common practice), which is not necessarily a bearish or bullish signal about the company.
“M” = exercise/conversion of derivatives (here, RSU/DEU conversion). “F” = tax withholding/sale to cover taxes.

Form 4

Period: 2026-03-09

SVP, GC, CCO & Corp. Sec.

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-09+421→ 36,555 total
Tax Payment
Common Stock
[F2]
2026-03-09$95.89/sh−196$18,794→ 36,359 total
Exercise/Conversion
Restricted Stock Units
[F1][F3][F4]
2026-03-09−399→ 0 total
Exercise: $0.00→ Common Stock (399 underlying)
Exercise/Conversion
Dividend Equivalent Units
[F1][F5][F4]
2026-03-09−22→ 0 total
Exercise: $0.00→ Common Stock (22 underlying)

Footnotes (5)

[F1]Represents restricted stock units and dividend equivalent units which automatically convert to Common Stock upon the vesting and settlement 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 three equal installments on March 9, 2024, 2025 and 2026.
[F4]Expiration date not applicable.
[F5]Represents dividend equivalent units ("DEUs") accrued on restricted stock units and performance-based restricted stock units which become exercisable proportionately, on a one-on-one basis, subject to the same terms and conditions, including vesting and settlement, as the restricted stock units to which they relate. Number of shares reported in Column 9 reflects the remaining aggregate DEUs associated with restricted stock units.

Signature

Jean M. Sera|2026-03-11

1 file