| FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 06/15/2007 |
3. Issuer Name and Ticker or Trading Symbol
AVIS BUDGET GROUP, INC. [ CAR ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Beneficially Owned | |||
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| 1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
| Common Stock | 0 | D | |
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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| 1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
| Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
| Restricted Stock Units | (1) | (4) | Common Stock | 15,369 | 0(5) | D | |
| 2007 Performance-Based Restricted Stock Units | (2) | (4) | Common Stock | 2,786 | 0(5) | D | |
| Restricted Stock Units | (3) | (4) | Common Stock | 6,502 | 0(5) | D | |
| Explanation of Responses: |
| 1. Original grant vests in four equal installments. The first installment became exercisable on May 2, 2007, and the next three installments become exercisable on May 2, 2008, 2009 and 2010. |
| 2. Grant vests in four equal installments on March 6, 2008, 2009, 2010 and 2011, subject to the Company?s attainment of pre-established financial performance goals. |
| 3. Grant vests in four equal installments on March 6, 2008, 2009, 2010 and 2011. |
| 4. Expiration date not applicable. |
| 5. Units covert to Common Stock on a one-to-one basis upon vesting. |
| Remarks: |
| Jean M. Sera, by Power of Attorney for Brett Weinblatt | 06/15/2007 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||
POWER
OF ATTORNEY
For
Executing Forms 3, 4 and 5
KNOW
ALL
BY THESE PRESENTS, that the undersigned hereby constitutes and appoints each
of
Karen C. Sclafani and Jean M. Sera or any of them, each acting alone, his true
and lawful attorney-in-fact to:
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(1)
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execute
for and on behalf of the undersigned a Form 3, Form 4 or Form 5 relating
to the securities of Avis Budget Group, Inc., in accordance with
Section
16(a) of the Securities Exchange Act of 1934 and the rules
thereunder;
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(2)
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do
and perform any and all acts for and on behalf of the undersigned
which
may be necessary or desirable to complete the execution of such Form
3,
Form 4 or Form 5 and the timely filing of such form with the United
States
Securities and Exchange Commission and any other authority;
and
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(3)
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take
any other action of any type whatsoever in connection with the foregoing
which, in the opinion of such attorney-in-fact, may be of benefit
to, in
the best interest of, or legally required by, the undersigned, it
being
understood that the documents executed by such attorney-in-fact on
behalf
of the undersigned pursuant to this Power of Attorney shall be in
such
form and shall contain such terms and conditions as such attorney-in-fact
may approve in his discretion.
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The
undersigned hereby grants to each such attorney-in-fact full power and authority
to do and perform all and every act and thing whatsoever requisite, necessary
and proper to be done in the exercise of any of the rights and powers herein
granted, as fully to all intents and purposes as such attorney-in-fact might
or
could do if personally present, hereby ratifying and confirming all that such
attorney-in-fact shall lawfully do or cause to be done by virtue of this Power
of Attorney and the rights and powers herein granted. The undersigned
acknowledges that each of the foregoing attorneys-in-fact, in serving in such
capacity at the request of the undersigned, is not assuming any of the
undersigned's responsibilities to comply with Section 16 of the Securities
Exchange Act of 1934. This Power of Attorney shall remain in full force and
effect until the undersigned is no longer required to file Forms 3, 4 or 5
with
respect to the undersigned’s holdings of and transactions in securities issued
by Avis Budget Group, Inc., unless earlier revoked by the undersigned in a
signed writing delivered to the foregoing attorneys-in-fact.
IN
WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be
executed as of this 6th
day of
June 2007.
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By:
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/s/
Brett Weinblatt
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Brett
Weinblatt
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