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^*

Sera Jean M

(Last)

(First)

(Middle)

6 SYLVAN WAY

(Street)

PARSIPPANY

07054

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
03/27/2020

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)
SVP, GC & Corp. Sec.

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	14,504	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	⁽¹⁾	⁽²⁾	Common Stock	1,437	0.0⁽³⁾	D
Restricted Stock Units	⁽⁴⁾	⁽²⁾	Common Stock	4,356	0.0⁽³⁾	D
Restricted Stock Units	⁽⁵⁾	⁽²⁾	Common Stock	13,276	0.0⁽³⁾	D
Performance Based Restricted Stock Units	⁽⁶⁾	⁽²⁾	Common Stock	1,847	0.0⁽³⁾	D
Performance Based Restricted Stock Units	⁽⁷⁾	⁽²⁾	Common Stock	2,800	0.0⁽³⁾	D
Performance Based Restricted Stock Units	⁽⁸⁾	⁽²⁾	Common Stock	5,690	0.0⁽³⁾	D

Explanation of Responses:

1. Original grant vests in three equal installments. The first two installments vested on March 15, 2019 and March 15, 2020, and the final installment vests on March 15, 2021.

2. Expiration date not applicable.

3. Represents restricted stock units which automatically convert to Common Stock upon the vesting of such units on a one-to-one basis.

4. Original grant vests in three equal installments. The first installment vested on March 15, 2020 and the final two installments vest on March 15, 2021 and March 15, 2022.

5. Grant vests in three equal installments on March 9, 2021, 2022 and 2023.

6. Units vest on March 15, 2021 based on the Company's attainment of pre-established performance goals. The number of units which could vest range from zero to 200% of the target number of units reported above depending on achievement of such performance goals.

7. Units vest on March 15, 2022 based on the Company's attainment of pre-established performance goals. The number of units which could vest range from zero to 200% of the target number of units reported above depending on achievement of such performance goals.

8. Units vest on March 9, 2023 based on the Company's attainment of pre-established performance goals. The number of units which could vest range from zero to 200% of the target number of units reported above depending on achievement of such performance goals.

Remarks:

	Jean M. Sera	04/03/2020
	** 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.