SRS Investment Management, LLC - Mar 14, 2022 Form 4 Insider Report for AVIS BUDGET GROUP, INC. (CAR)

Signature
SRS INVESTMENT MANAGEMENT, LLC; by: /s/ David B. Zales, General Counsel
Stock symbol
CAR
Transactions as of
Mar 14, 2022
Transactions value $
$0
Form type
4
Date filed
3/16/2022, 07:15 PM
Previous filing
Feb 11, 2022
Next filing
Mar 18, 2022

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 Equity Swap (obligation to buy) Other -1 0% 220K Mar 14, 2022 Common Stock 142K $10.38 See Footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Distribution of an interest in a cash settled swap by a Fund (defined below) to a partner of the Fund for no consideration. The swap is exercisable at any time.
F2 SRS Investment Management, LLC, a Delaware limited liability company ("SRS"), serves as investment manager to certain investment funds (the "Funds") and has investment discretion with respect to the securities reported herein which are held by the Funds. SRS Investment Management, LP ("SRS IM"), a Delaware limited partnership, is the managing member of the Investment Manager. SRS Investment Management GP, LLC, a Delaware limited liability company ("SRS IM GP"), is the general partner of SRS IM. Karthik R. Sarma ("Mr. Sarma," and together with SRS, the "Reporting Persons") is the managing member and principal of SRS IM GP. In such capacities, Mr. Sarma and the Investment Manager may be deemed to have voting and dispositive power with respect to the shares of Common Stock held for the Funds. Mr. Sarma is a director of the Issuer. SRS may be deemed a director by deputization by virtue of its relationship with Mr. Sarma.
F3 The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise. Each of the Reporting Persons expressly disclaims beneficial ownership of the securities reported herein except to the extent of its or his pecuniary interest therein.