Bernardo Hees - Dec 21, 2023 Form 4 Insider Report for AVIS BUDGET GROUP, INC. (CAR)

Role: Executive Chairman, Director
Signature: Jean M. Sera, by Power of Attorney for Bernardo Hees
Stock symbol: CAR
Transactions as of: Dec 21, 2023
Transactions value $: $0
Form type: 4
Date filed: 12/22/2023, 04:48 PM
Previous filing: Dec 5, 2023
Next filing: Mar 5, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CAR	Common Stock	Award	$0	+82	+5.38%	$0.00	1.61K	Dec 21, 2023	Held by NQ Deferred Compensation Plan	F1, F2
holding	CAR	Common Stock						490K	Dec 21, 2023	See footnote	F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CAR	Dividend Equivalent Units	Award	$0	+2.89K		$0.00	2.89K	Dec 21, 2023	Common Stock	2.89K	$0.00	Direct	F1, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On December 5, 2023, the Issuer announced that its Board of Directors declared a special cash dividend in the amount of $10.00 per share of its Common Stock, payable on December 21, 2023 to stockholders of record as of the close of business on December 15, 2023 (the "Dividend").
F2	Represents dividend equivalent units accrued as a result of the Dividend on restricted stock units awarded to the Reporting Person as part of the Company's non-employee director compensation program (the "Original RSUs"). Units automatically convert to Common Stock upon vesting or settlement, as applicable, on a one-to-one basis and, to the extent unvested, will fully vest on the same terms and conditions as the Original RSUs and, to the extent deferred under the Non-Employee Directors Deferred Compensation Plan, will be payable in accordance with the payment and/or deferral election made in accordance with the terms of the plan.
F3	Reflects shares held by the BHJH Master Trust LLC. By virtue of his position as chief investment adviser of BHJH Master Trust LLC, Bernardo Hees may be deemed to be a beneficial owner of the securities listed.
F4	Amount acquired represents dividend equivalent units accrued on restricted stock units and performance-based restricted stock units with respect to the Issuer's Common Stock (the "Original RSUs") held by the Reporting Person as a result of the Dividend. Each dividend equivalent unit is the economic equivalent of one share of the Issuer's Common Stock and entitles the Reporting Person to receive one share of Common Stock upon the settlement of the Original RSUs and is subject to same terms and conditions, including vesting and settlement, as the Original RSUs to which it relates.
F5	Expiration date not applicable.