| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | HTZ | Common Stock | Options Exercise | $0 | +8.83K | +50.46% | $0.00 | 26.3K | Jun 30, 2021 | Direct | F1 |
| transaction | HTZ | Common Stock | Disposed to Issuer | $0 | -26.3K | -100% | $0.00* | 0 | Jun 30, 2021 | Direct | F2, F3 |
| transaction | HTZ | New Common Stock | Award | $0 | +2.38K | $0.00 | 2.38K | Jun 30, 2021 | Direct | F4 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | HTZ | Phantom Stock | Options Exercise | $0 | -8.83K | -100% | $0.00* | 0 | Jun 30, 2021 | Common Stock | 8.83K | Direct | F5, F6 | |
| transaction | HTZ | Warrant (right to buy) | Award | $0 | +17K | $0.00 | 17K | Jun 30, 2021 | New Common Stock | 0 | $13.80 | Direct | F7, F8 |
Daniel A. Ninivaggi is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.
| Id | Content |
|---|---|
| F1 | On June 30, 2021, the Reporting Person's phantom shares previously reported in Table II converted to Old Common Stock (defined below) due to a change in control. |
| 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 | Each share of Phantom Stock is the economic equivalent of one share of Old Common Stock. |
| F6 | Shares of Old Common Stock underlying the shares of Phantom Stock credited to the Reporting Person's account were issued to the Reporting Person due to a change of control. |
| F7 | Pursuant to the terms of the Plan, on the Effective Date, certain holders, including the Reporting Person, received a distribution of 30-year warrants for 18% of the shares of New Common Stock of the reorganized Company (subject to dilution by the issuance of shares pursuant to a new management incentive plan) with an exercise price based on a total equity value of $6.5 billion. |
| F8 | 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. |
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.