Avis Budget Group: SEC Filing

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SEC FORM 3 SEC Form 3

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^*

Martins Izilda P

(Last)

(First)

(Middle)

6 SYLVAN WAY

(Street)

PARSIPPANY

07054

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
01/01/2020

3. Issuer Name and Ticker or Trading Symbol
AVIS BUDGET GROUP, INC. [ CAR ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Interim President, Americas

5. 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 Beneficially Owned
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

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	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)
Restricted Stock Units	03/01/2020	⁽¹⁾	Common Stock	2,204	0.00⁽²⁾	D
Performance-Based Restricted Stock Units	03/01/2020⁽³⁾	⁽¹⁾	Common Stock	2,833	0.00⁽²⁾	D
Restricted Stock Units	⁽⁴⁾	⁽¹⁾	Common Stock	2,634	0.00⁽²⁾	D
Performance-Based Restricted Stock Units	03/15/2021⁽³⁾	⁽¹⁾	Common Stock	1,693	0.00⁽²⁾	D
Restricted Stock Units	⁽⁵⁾	⁽¹⁾	Common Stock	6,534	0.00⁽²⁾	D
Performance-Based Restricted Stock Units	03/15/2022⁽³⁾	⁽¹⁾	Common Stock	2,800	0.00⁽²⁾	D

Explanation of Responses:

1. Expiration date not applicable.

2. Units automatically convert to common stock upon vesting on a one-to-one basis.

3. Units vest based on the company's attainment of pre-established financial performance goals.

4. Units vest in two equal installments on March 15, 2020 and 2021.

5. Units vest in three equal installments on March 15, 2020, 2021 and 2022.

Remarks:

	/s/ Jean M. Sera, by Power of Attorney for Izilda P. Martins	01/03/2020
	** 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 Jean M. Sera and Suna Chang or any of them, each acting alone, her true
and lawful attorney-in-fact to:

      (1)    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;

      (2)    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

      (3)    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 or
             her discretion.

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 30th day of December, 2019.

                 By: /s/ Izilda P. Martins
                     -----------------------------
                     Izilda P. Martins