SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* NELSON RONALD L (Last) (First) (Middle) 6 SYLVAN WAY (Street) PARSIPPANY NJ 07054 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol AVIS BUDGET GROUP, INC. [ CAR ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner X Officer (give title below) Other (specify below) Chariman, CEO and President
	3. Date of Earliest Transaction (Month/Day/Year) 12/22/2011
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock options (right to buy)	$18.8163	12/22/2011		G	V		78,187(1)	04/14/2004(2)	04/14/2013	Common Stock	78,187	$0	0	D
Stock options (right to buy)	$18.8163	12/22/2011		G	V		26,062(1)	04/14/2004(2)	04/14/2013	Common Stock	26,062	$0	0	D
Stock-Settled Stock Appreciation Right	$24.4	12/22/2011		G	V		337,079(1)	07/31/2007(3)	08/01/2013	Common Stock	337,079	$0	0	D
Stock options (right to buy)	$18.8163	12/22/2011		G	V	78,187(1)		04/14/2004(2)	04/14/2013	Common Stock	78,187	$0	78,187	I(1)	By trust
Stock options (right to buy)	$18.8163	12/22/2011		G	V	26,062(1)		04/14/2004(2)	04/14/2013	Common Stock	26,062	$0	26,062	I(1)	By trust
Stock-Settled Stock Appreciation Right	$24.4	12/22/2011		G	V	337,079(1)		07/31/2007(3)	08/01/2013	Common Stock	337,079	$0	337,079	I(1)	By trust

Explanation of Responses:

1. Securities were gifted to a family trust. Mr. Nelson's wife is a trustee of the trust.

2. The options vested in four equal annual installments starting on April 14, 2004.

3. The SSARs vested in four equal annual installments starting on July 31, 2007, and confer on the holder the right to receive an amount, in common stock, equal to the excess of the fair market value of a share of common stock on the date of exercise over the exercise price of the SSAR.

Remarks:

	Jean M. Sera, by Power of Attorney for Ronald L. Nelson	01/11/2012
	** 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 4 (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).
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