Pentwater Capital Management LP - 22 Apr 2026 Form 4/A - Amendment Insider Report for AVIS BUDGET GROUP, INC. (CAR)

Reporting relationship
10%+ Owner
Issuer ticker
CAR
Reported as of
22 Apr 2026
Net transaction value
-$9,872
Source evidence Original filing metadata and source links for verification. 5 source fields
SEC form
4/A - Amendment
Accepted by SEC
12 May 2026, 15:54:34 UTC
Original report date
28 Apr 2026
Prior SEC filing
23 Apr 2026
Source filing
View source filing
Reporting owner 1 detail
Reporting owner signature
/s/ Pentwater Capital Management LP, By: /s/ MCH PWCM Holdings Inc., General Partner, By: Matthew Halbower, Chief Executive Officer

Key filing fact

Pentwater Capital Management LP filed Form 4/A - Amendment for AVIS BUDGET GROUP, INC. (CAR) on 12 May 2026.

Key facts

  • This page summarizes Pentwater Capital Management LP's Form 4/A - Amendment filing for AVIS BUDGET GROUP, INC. (CAR).
  • 21 reported transactions and 42 derivative rows are listed below.
  • Accepted by SEC: 12 May 2026, 15:54.

Change

  • Previous filing in this sequence was filed on 23 Apr 2026.
  • Current net transaction value: -$9,872.

Research use

  • This tells you what this filing adds before you inspect full transaction and derivative tables.
  • You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4/A - Amendment disclosures.

View source filing

Reporting Owners (2)

CIK 0001425851 Primary reporting owner

Pentwater Capital Management LP

Relationship
10%+ Owner
Address
1001 10TH AVENUE SOUTH, SUITE 216, NAPLES
Signature
/s/ Pentwater Capital Management LP, By: /s/ MCH PWCM Holdings Inc., General Partner, By: Matthew Halbower, Chief Executive Officer
Signature date
12 May 2026
CIK 0002121021

Halbower Matthew

Relationship
10%+ Owner
Address
PENTWATER CAPITAL MANAGEMENT LP, 1001 10TH AVENUE SOUTH, SUITE 216, NAPLES
Signature
/s/ Matthew Halbower
Signature date
12 May 2026

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$24.08
Shares
-1
Change %
-50%
Price
$24.08
Shares after
1
Date
23 Apr 2026
Ownership
LMA SPC for and on behalf of the MAP 98 Segregated Portfolio
Underlying class
Common Stock
Underlying amount
100
Exercise price
$340.00
Footnotes
F1, F4, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$24.08
Shares
-1
Change %
-50%
Price
$24.08
Shares after
1
Date
23 Apr 2026
Ownership
LMA SPC for and on behalf of the MAP 98 Segregated Portfolio
Underlying class
Common Stock
Underlying amount
100
Exercise price
$340.00
Footnotes
F1, F4, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$169
Shares
-7
Change %
-50%
Price
$24.08
Shares after
7
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
700
Exercise price
$340.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$169
Shares
-7
Change %
-50%
Price
$24.08
Shares after
7
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
700
Exercise price
$340.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$96.32
Shares
-4
Change %
-50%
Price
$24.08
Shares after
4
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
400
Exercise price
$340.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$96.32
Shares
-4
Change %
-50%
Price
$24.08
Shares after
4
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
400
Exercise price
$340.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$771
Shares
-32
Change %
-50%
Price
$24.08
Shares after
32
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,200
Exercise price
$340.00
Footnotes
F1, F7, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$771
Shares
-32
Change %
-50%
Price
$24.08
Shares after
32
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,200
Exercise price
$340.00
Footnotes
F1, F7, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$107
Shares
-5
Change %
-50%
Price
$21.33
Shares after
5
Date
23 Apr 2026
Ownership
Oceana Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
500
Exercise price
$350.00
Footnotes
F1, F2, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$107
Shares
-5
Change %
-50%
Price
$21.33
Shares after
5
Date
23 Apr 2026
Ownership
Oceana Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
500
Exercise price
$350.00
Footnotes
F1, F2, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$21.33
Shares
-1
Change %
-50%
Price
$21.33
Shares after
1
Date
23 Apr 2026
Ownership
Pentwater Credit Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
100
Exercise price
$350.00
Footnotes
F1, F3, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$21.33
Shares
-1
Change %
-50%
Price
$21.33
Shares after
1
Date
23 Apr 2026
Ownership
Pentwater Credit Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
100
Exercise price
$350.00
Footnotes
F1, F3, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$149
Shares
-7
Change %
-50%
Price
$21.33
Shares after
7
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
700
Exercise price
$350.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$149
Shares
-7
Change %
-50%
Price
$21.33
Shares after
7
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
700
Exercise price
$350.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$85.32
Shares
-4
Change %
-50%
Price
$21.33
Shares after
4
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
400
Exercise price
$350.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$85.32
Shares
-4
Change %
-50%
Price
$21.33
Shares after
4
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
400
Exercise price
$350.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$704
Shares
-33
Change %
-50%
Price
$21.33
Shares after
33
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,300
Exercise price
$350.00
Footnotes
F1, F7, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$704
Shares
-33
Change %
-50%
Price
$21.33
Shares after
33
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,300
Exercise price
$350.00
Footnotes
F1, F7, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$98.4
Shares
-5
Change %
-50%
Price
$19.68
Shares after
5
Date
23 Apr 2026
Ownership
Oceana Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
500
Exercise price
$360.00
Footnotes
F1, F2, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$98.4
Shares
-5
Change %
-50%
Price
$19.68
Shares after
5
Date
23 Apr 2026
Ownership
Oceana Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
500
Exercise price
$360.00
Footnotes
F1, F2, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$19.68
Shares
-1
Change %
-50%
Price
$19.68
Shares after
1
Date
23 Apr 2026
Ownership
Pentwater Credit Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
100
Exercise price
$360.00
Footnotes
F1, F3, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$19.68
Shares
-1
Change %
-50%
Price
$19.68
Shares after
1
Date
23 Apr 2026
Ownership
Pentwater Credit Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
100
Exercise price
$360.00
Footnotes
F1, F3, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$19.68
Shares
-1
Change %
-50%
Price
$19.68
Shares after
1
Date
23 Apr 2026
Ownership
LMA SPC for and on behalf of the MAP 98 Segregated Portfolio
Underlying class
Common Stock
Underlying amount
100
Exercise price
$360.00
Footnotes
F1, F4, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$19.68
Shares
-1
Change %
-50%
Price
$19.68
Shares after
1
Date
23 Apr 2026
Ownership
LMA SPC for and on behalf of the MAP 98 Segregated Portfolio
Underlying class
Common Stock
Underlying amount
100
Exercise price
$360.00
Footnotes
F1, F4, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$138
Shares
-7
Change %
-50%
Price
$19.68
Shares after
7
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
700
Exercise price
$360.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$138
Shares
-7
Change %
-50%
Price
$19.68
Shares after
7
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
700
Exercise price
$360.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$78.72
Shares
-4
Change %
-50%
Price
$19.68
Shares after
4
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
400
Exercise price
$360.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$78.72
Shares
-4
Change %
-50%
Price
$19.68
Shares after
4
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
400
Exercise price
$360.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$630
Shares
-32
Change %
-50%
Price
$19.68
Shares after
32
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,200
Exercise price
$360.00
Footnotes
F1, F7, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$630
Shares
-32
Change %
-50%
Price
$19.68
Shares after
32
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,200
Exercise price
$360.00
Footnotes
F1, F7, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$676
Shares
-30
Change %
-50%
Price
$22.54
Shares after
30
Date
23 Apr 2026
Ownership
Oceana Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,000
Exercise price
$400.00
Footnotes
F1, F2, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$676
Shares
-30
Change %
-50%
Price
$22.54
Shares after
30
Date
23 Apr 2026
Ownership
Oceana Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
3,000
Exercise price
$400.00
Footnotes
F1, F2, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$135
Shares
-6
Change %
-50%
Price
$22.54
Shares after
6
Date
23 Apr 2026
Ownership
Pentwater Credit Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
600
Exercise price
$400.00
Footnotes
F1, F3, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$135
Shares
-6
Change %
-50%
Price
$22.54
Shares after
6
Date
23 Apr 2026
Ownership
Pentwater Credit Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
600
Exercise price
$400.00
Footnotes
F1, F3, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$113
Shares
-5
Change %
-50%
Price
$22.54
Shares after
5
Date
23 Apr 2026
Ownership
LMA SPC for and on behalf of the MAP 98 Segregated Portfolio
Underlying class
Common Stock
Underlying amount
500
Exercise price
$400.00
Footnotes
F1, F4, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$113
Shares
-5
Change %
-50%
Price
$22.54
Shares after
5
Date
23 Apr 2026
Ownership
LMA SPC for and on behalf of the MAP 98 Segregated Portfolio
Underlying class
Common Stock
Underlying amount
500
Exercise price
$400.00
Footnotes
F1, F4, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$947
Shares
-42
Change %
-50%
Price
$22.54
Shares after
42
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
4,200
Exercise price
$400.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$947
Shares
-42
Change %
-50%
Price
$22.54
Shares after
42
Date
23 Apr 2026
Ownership
Pentwater Equity Opportunities Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
4,200
Exercise price
$400.00
Footnotes
F1, F5, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$541
Shares
-24
Change %
-50%
Price
$22.54
Shares after
24
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
2,400
Exercise price
$400.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$541
Shares
-24
Change %
-50%
Price
$22.54
Shares after
24
Date
23 Apr 2026
Ownership
Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio
Underlying class
Common Stock
Underlying amount
2,400
Exercise price
$400.00
Footnotes
F1, F6, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$4,350
Shares
-193
Change %
-50%
Price
$22.54
Shares after
193
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
19,300
Exercise price
$400.00
Footnotes
F1, F7, F8
CAR transaction Derivative

Call Option (obligation to sell)

Sale

Transaction value
$4,350
Shares
-193
Change %
-50%
Price
$22.54
Shares after
193
Date
23 Apr 2026
Ownership
Pentwater Merger Arbitrage Master Fund Ltd.
Underlying class
Common Stock
Underlying amount
19,300
Exercise price
$400.00
Footnotes
F1, F7, F8
* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Section 16 status

Pentwater Capital Management LP is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.

Explanation of responses 8 footnotes

Footnote F1

This Form 4/A 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"), including the funds named herein, 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 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 person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. The Reporting Persons are in discussions with the Issuer and, to the extent required pursuant to Section 16(b), will voluntarily pay any realized short swing profits. The Reporting Persons are filing this Form 4/A solely to amend and restate footnotes 2-8 of the Form 4 as follows.

Footnote F2

Trades by Oceana Master Fund Ltd.

Footnote F3

Trades by Pentwater Credit Master Fund Ltd.

Footnote F4

Trades by LMA SPC for and on behalf of the MAP 98 Segregated Portfolio.

Footnote F5

Trades by Pentwater Equity Opportunities Master Fund Ltd.

Footnote F6

Trades by Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio.

Footnote F7

Trades by Pentwater Merger Arbitrage Master Fund Ltd.

Footnote F8

Exercisable at any time.

SEC remarks

Because of the SEC Form 4 filing limitation of 30 transactions per form, this Form 4 is being split into 6 forms. This is form 6 of 6.

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