Key facts
- This page summarizes SRS Investment Management, LLC's Form 4 filing for AVIS BUDGET GROUP, INC. (CAR).
- 1 reported transaction and 0 derivative rows are listed below.
- Accepted by SEC: 25 Aug 2023, 17:19.
SRS Investment Management, LLC - 25 Aug 2023 Form 4 Insider Report for AVIS BUDGET GROUP, INC. (CAR)
- Reporting relationship
- Director, 10%+ Owner
- Issuer ticker
- CAR
- Reported as of
- 25 Aug 2023
- Net transaction value
- -$222,910,000
- SEC form
- 4
- Accepted by SEC
- 25 Aug 2023, 17:19:27 UTC
- Prior SEC filing
- 02 Dec 2022
- Source filing
- View source filing
- Reporting owner signature
- SRS INVESTMENT MANAGEMENT, LLC; by: /s/ David B. Zales, General Counsel
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
SRS Investment Management, LLC filed Form 4 for AVIS BUDGET GROUP, INC. (CAR) on 25 Aug 2023.
Change
- Previous filing in this sequence was filed on 02 Dec 2022.
- Current net transaction value: -$222,910,000.
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
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
CAR
transaction
Common Stock
Disposed to Issuer
- Transaction value
- $222,910,000
- Shares
- -1,000,000
- Change %
- -5.4%
- Price
- $222.91
- Shares after
- 17,430,882
- Date
- 25 Aug 2023
- Ownership
- See Footnote
- Footnotes
- F1, F2, F3
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 3 footnotes
Footnote F1
On August 25, 2023, the Reporting Persons sold to the Issuer an aggregate of 1,000,000 shares of Common Stock in a broker to broker transaction at market price at the time of the trade (which was $222.91 (rounding to the nearest cent)) (the "2023 Repurchase"). The 2023 Repurchase was approved by the Compensation Committee and was exempt pursuant to Rule 16b-3 under the Exchange Act.
Footnote 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.
Footnote 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.