Pentwater Capital Management LP - 03 Mar 2026 Form 4 Insider Report for AVIS BUDGET GROUP, INC. (CAR)

Role: 10%+ Owner
Signature: /s/ Pentwater Capital Management LP, By: /s/ MCH PWCM Holdings Inc., General Partner, By: Matthew Halbower, Chief Executive Officer
Issuer symbol: CAR
Transactions as of: 03 Mar 2026
Net transactions value: $0
Form type: 4
Filing time: 05 Mar 2026, 21:30:29 UTC
Previous filing: 27 Feb 2026
Next filing: 09 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Pentwater Capital Management LP	10%+ Owner	1001 10TH AVENUE SOUTH, SUITE 216, NAPLES	/s/ Pentwater Capital Management LP, By: /s/ MCH PWCM Holdings Inc., General Partner, By: Matthew Halbower, Chief Executive Officer	05 Mar 2026	0001425851

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

Type	Sym	Class	Transaction	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CAR	Call Option (right to buy)	Purchase	+2,000	+129%	$21.24	3,550	03 Mar 2026	Common Stock, par value $0.01 per share ("Common Stock")	200,000	$85.00	See footnote	F1, F2
transaction	CAR	Put Option (obligation to buy)	Sale	-2,000	-36%	$10.95^*	3,550	03 Mar 2026	Common Stock	200,000	$85.00	See footnote	F1, F2
transaction	CAR	Call Option (right to buy)	Purchase	+500	+14%	$23.02	4,050	04 Mar 2026	Common Stock	50,000	$85.00	See footnote	F1, F2
transaction	CAR	Put Option (obligation to buy)	Sale	-500	-11%	$9.77^*	4,050	04 Mar 2026	Common Stock	50,000	$85.00	See footnote	F1, F2

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

Explanation of Responses:

Id	Content
F1	This Form 4 is filed by Pentwater Capital Management LP ("PCM") and Matthew Halbower ("Mr. Halbower") (collectively, the "Reporting Persons") with respect to securities held by certain funds (the "Pentwater Funds") to which PCM serves as investment adviser. Mr. Halbower is the sole shareholder of MCH PWCM Holdings Inc., the general partner of PCM. Each of the foregoing disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
F2	Exercisable at any time.

Content

This Form 4 is filed by Pentwater Capital Management LP ("PCM") and Matthew Halbower ("Mr. Halbower") (collectively, the "Reporting Persons") with respect to securities held by certain funds (the "Pentwater Funds") to which PCM serves as investment adviser. Mr. Halbower is the sole shareholder of MCH PWCM Holdings Inc., the general partner of PCM. Each of the foregoing disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Exercisable at any time.