Choi Brian J 4
4 · AVIS BUDGET GROUP, INC. · Filed Mar 11, 2026
Research Summary
AI-generated summary of this filing
Avis Budget (CAR) CEO Brian Choi Converts RSUs, Withholds 516 Shares
What Happened Brian J. Choi, CEO of Avis Budget Group (CAR), had restricted stock units (RSUs) and related dividend equivalent units (DEUs) vest/convert on March 9, 2026. The filing shows 1,515 shares were acquired upon conversion. To satisfy tax withholding, 516 shares were surrendered/withheld at $95.89 per share, generating proceeds of $49,479. The report also shows conversion/settlement entries for 1,437 derivative units and 78 award units related to the same vesting event.
Key Details
- Transaction date: March 9, 2026 (Form 4 filed March 11, 2026; filing appears timely).
- Main entries: 1,515 shares acquired (conversion of derivatives); 516 shares disposed/withheld to cover taxes at $95.89/share = $49,479.
- Additional entries: 1,437 shares reported as conversion/settlement of derivative units and 78 shares reported as a grant/award disposition (both $0.00 per-share reported).
- Footnotes: RSUs and DEUs convert one-for-one to common stock on vesting (F1, F5); 516-share disposition represents tax withholding (F2); units vested in three equal installments on March 9, 2024, 2025 and 2026 (F3).
- Shares owned after the transaction are not included in the summary provided; see the full Form 4 for post-transaction holdings.
Context This was predominantly a vesting/settlement of equity awards rather than an open-market buy or sale. The withholding of shares to cover taxes is a routine administrative action (not a market-sale for discretionary proceeds). The derivative entries reflect conversion/settlement of RSUs/DEUs into common stock upon vesting.
Insider Transaction Report
- Exercise/Conversion
Common Stock
[F1]2026-03-09+1,515→ 111,694 total - Tax Payment
Common Stock
[F2]2026-03-09$95.89/sh−516$49,479→ 111,178 total - Exercise/Conversion
Restricted Stock Units
[F1][F3][F4]2026-03-09−1,437→ 0 totalExercise: $0.00→ Common Stock (1,437 underlying) - Award
Dividend Equivalent Units
[F1][F5][F4]2026-03-09−78→ 0 totalExercise: $0.00→ Common Stock (78 underlying)
- 1,735(indirect: By IRA)
Common Stock
Footnotes (5)
- [F1]Represents restricted stock units and dividend equivalent units which automatically convert to Common Stock upon the vesting and settlement of such units on a one-to-one basis.
- [F2]Represents tax withholdings in connection with the vesting of restricted stock units.
- [F3]Units vest in three equal installments on March 9, 2024, 2025 and 2026.
- [F4]Expiration date not applicable.
- [F5]Represents dividend equivalent units ("DEUs") accrued on restricted stock units and performance-based restricted stock units which become exercisable proportionately, on a one-on-one basis, subject to the same terms and conditions, including vesting and settlement, as the restricted stock units to which they relate. Number of shares reported in Column 9 reflects the remaining aggregate DEUs.