Filing Details

Accession Number:
0001140361-10-003156
Form Type:
4
Zero Holdings:
No
Publication Time:
2010-01-29 12:00:00
Reporting Period:
2010-01-27
Filing Date:
2010-01-29
Accepted Time:
2010-01-29 16:36:41
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
723612 Avis Budget Group Inc. CAR Services-Auto Rental & Leasing (No Drivers) (7510) 060918165
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1314584 B David Wyshner 6 Sylvan Way
Parsippany NJ 07054
Evp & Chief Financial Officer No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2010-01-28 60,000 $0.79 102,888 No 4 M Direct
Common Stock Disposition 2010-01-28 60,000 $11.11 42,888 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Restricted Stock Units Acquisiton 2010-01-27 43,365 $0.00 43,365 $0.00
Common Stock Performance Based Restricted Stock Units Acquisiton 2010-01-27 43,365 $0.00 43,365 $0.00
Common Stock Stock options (right to buy) Acquisiton 2010-01-28 187,500 $0.00 187,500 $0.79
Common Stock Stock options (right to buy) Disposition 2010-01-28 60,000 $0.00 60,000 $0.79
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
43,365 No 4 A Direct
43,365 No 4 A Direct
187,500 2010-01-28 2019-01-28 No 4 A Direct
127,500 2010-01-28 2019-01-28 No 4 M Direct
Footnotes
  1. Sale of shares made pursuant to a pre-established 10b5-1 plan. Proceeds from the sale were used to pay the exercise price of stock options, pursuant to a broker-assisted cashless exercise, and applicable withholding taxes.
  2. Price reflects the weighted average sale price for the sale transactions made on the date reported above. Sale prices ranged from $10.95 to $11.58. Mr. Wyshner will provide, upon request by the Staff, the Company, or a security holder of the Company, full information regarding the number of shares purchased or sold at each separate price.
  3. Units convert to Common Stock on a one-to-one basis upon vesting.
  4. Grant vests in three equal installments on January 27, 2011, 2012 and 2013.
  5. Between 50% and 100% of the units will vest on the third anniversary of the date of grant if the per-share closing price of the Company's common stock equals or exceeds a minimum threshold price of $14.12 and a maximum target price of $15.77 over any consecutive 30 trading days between the grant date and the third anniversary of the date of grant. The actual number of units that vest, based on closing prices that are between the threshold and target prices shall be determined on a pro rata basis using straight line interpolation.
  6. Expiration date not applicable.
  7. Award consists of options which vested upon the Company's achievement of certain financial performance goals.