David A. Barnes - 15 Jun 2021 Form 4 Insider Report for HERTZ GLOBAL HOLDINGS, INC (HTZ)

Role
Director
Signature
Matthew Potalivo, by Power of Attorney on behalf of David A. Barnes
Issuer symbol
HTZ
Transactions as of
15 Jun 2021
Net transactions value
-$58,273
Form type
4
Filing time
02 Jul 2021, 16:16:17 UTC
Next filing
24 Aug 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HTZ Common Stock Sale $60,153 -7,624 -26% $7.89 22,105 15 Jun 2021 Direct F1
transaction HTZ Common Stock Disposed to Issuer $0 -22,105 -100% $0.000000* 0 30 Jun 2021 Direct F2, F3
transaction HTZ New Common Stock Award $0 +1,999 $0.000000 1,999 30 Jun 2021 Direct F4
transaction HTZ New Common Stock Award $1,880 +188 +9.4% $10.00 2,187 30 Jun 2021 Direct F5

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 HTZ Subscription Rights (right to buy) Award $0 +188 $0.000000 188 30 Jun 2021 New Common Stock 188 $10.00 Direct F5
transaction HTZ Subscription Rights (right to buy) Options Exercise $0 -188 -100% $0.000000* 0 30 Jun 2021 New Common Stock 188 $10.00 Direct
transaction HTZ Warrant (right to buy) Award $0 +14,147 $0.000000 14,147 30 Jun 2021 New Common Stock 14,147 $13.80 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

David A. Barnes is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The price reported is the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $7.83 to $7.91. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the above range.
F2 On May 22, 2020, Hertz Global Holdings, Inc. (the "Issuer") and certain of its U.S. subsidiaries, (collectively, with the Issuer, the "Debtors"), filed voluntary petitions in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") seeking relief under the provisions of Chapter 11 of Title 11 of the United States Bankruptcy Code. On June 10, 2021, the Bankruptcy Court entered an order confirming the Debtors' Second Modified Third Amended Joint Chapter 11 Plan of Reorganization (as amended, modified or supplemented from time to time, the "Plan"), and on June 30, 2021 (the "Effective Date"), the Plan became effective pursuant to its terms and the Debtors emerged from bankruptcy.
F3 On the Effective Date, all of the Company's previously outstanding shares of common stock ("Old Common Stock"), including options, warrants, rights, restricted stock units or other securities or agreements to acquire such common stock, were cancelled and extinguished pursuant to the Plan.
F4 Pursuant to the terms of the Plan, on the Effective Date all holders of the Old Common Stock received, in the aggregate, (i) $1.53 per share; and (ii) their pro rata share of common stock ("New Common Stock") representing 3% of the shares of the reorganized Company (subject to dilution for warrants and a new management incentive plan).
F5 Pursuant to the terms of the Plan, on the Effective Date, certain holders, including the Reporting Person, received the opportunity to subscribe for shares of New Common Stock in a rights offering for approximately 35% of the shares of New Common Stock (subject to dilution by the issuance of shares pursuant to warrants and a new management incentive plan).
F6 The 30-year warrants expire on June 30, 2051. For technical reasons, this Form 4 displays a date of June 30, 2050, which should be read as June 30, 2051.

Remarks:

The open market sale on June 15, 2021 was reported late due to an administrative oversight. The Reporting Person resigned as a director of the Issuer effective June 30, 2021. As a result, the Reporting Person is no longer subject to Section 16 in connection with transactions in the securities of the Company and therefore will no longer report any such transactions on Form 4 and Form 5.