Welcome to our dedicated page for Avis Budget SEC filings (Ticker: CAR), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Avis Budget Group, Inc. (NASDAQ: CAR) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. As a Nasdaq Global Select Market registrant, Avis Budget Group submits periodic reports such as Form 10-K and Form 10-Q, as well as numerous Form 8-K current reports detailing material events, financing transactions, governance changes and quarterly earnings announcements.
Recent 8-K filings referenced in company disclosures include reports of first, second and third quarter 2025 results, where the attached press releases discuss revenues, net income or loss, Adjusted EBITDA and key metrics like rental days, revenue per day, vehicle utilization and per-unit fleet costs. Other 8-Ks describe entry into material definitive agreements, such as amendments to the company’s credit agreement, issuance of asset-backed securities secured by vehicles in its domestic fleet, and senior notes offerings by its subsidiaries.
Additional filings highlight corporate governance and shareholder matters. For example, an 8-K dated July 31, 2025 reports amendments to the Amended and Restated Certificate of Incorporation, while another dated September 8, 2025 outlines changes to a cooperation agreement with a significant shareholder, including voting caps and board size provisions. These documents provide detail on rights of security holders, board composition parameters and other structural features of the company’s governance framework.
On Stock Titan, users can review these SEC filings in sequence and use AI-powered summaries to understand the core points of lengthy documents such as annual reports on Form 10-K, quarterly reports on Form 10-Q and complex financing-related 8-Ks. The platform also surfaces real-time updates from EDGAR and makes it easier to track how Avis Budget Group reports its financial condition, risk factors, capital structure changes and other material information over time.
Avis Budget Group is asking shareholders to vote at its virtual 2026 annual meeting on May 20, 2026, at 11:00 a.m. Eastern Time. Holders of Common Stock as of March 25, 2026 may attend online and vote.
Shareholders will elect six directors, ratify the auditor, cast an advisory vote on 2025 executive pay and consider a shareholder proposal on majority voting and meeting adjournment. The Board recommends voting for all director nominees, for the auditor and executive compensation, and against the governance-related shareholder proposal.
In 2025 the company generated approximately $11.7 billion in revenue but reported a net loss of $995 million, driven in part by $518 million of impairment and related charges tied to certain U.S. electric vehicle rental assets. Adjusted EBITDA was $748 million. Despite the loss, the year-end share price of $128.32 produced total shareholder return of 59% for 2025 and 271% over five years. Below-target 2025 annual incentives and unearned performance units link named executive officer pay to these results, while the compensation committee also granted additional performance-based equity and introduced supplemental performance units to support leadership transitions.
Avis Budget Group entered into an Equity Distribution Agreement that allows it to sell up to 5,000,000 shares of its common stock from time to time through or to a syndicate of sales agents in at-the-market offerings under an existing shelf registration.
Sales can be made on the Nasdaq Global Select Market, through market makers, or in negotiated transactions, with commissions to the agents capped at 2.00% of the gross sales price per share. The company may also sell shares to the agents acting as principals under separate terms agreements and can suspend the program at any time. Avis Budget expects to use any net proceeds for general corporate purposes.
Avis Budget Group, Inc. is registering 5,000,000 shares of common stock for sale under an at-the-market equity distribution agreement dated March 27, 2026. The company may sell shares from time to time through multiple sales agents at prevailing market prices, paying up to 2.00% of the gross sales price in commissions.
The prospectus supplement states sales will be made under an “equity distribution agreement” with listed banks acting as sales agents and that net proceeds are intended for general corporate purposes (including repayment of indebtedness, acquisitions, working capital, repurchases, dividends, capital expenditures and investments). Sales may occur directly on Nasdaq or other trading venues and will be reported quarterly.
Avis Budget Group, Inc. filed a Form S-3 shelf registration prospectus dated March 27, 2026 to register shares of its common stock for issuance by the company and for resale by selling stockholders. The prospectus describes the types of distributions permitted and states sales may commence "as soon as practicable after the effective date".
The prospectus notes the company may sell shares for general corporate purposes and that the company will not receive proceeds from shares sold by selling stockholders. Offering mechanics, pricing, selling stockholder identities and any underwriting terms will be provided in future prospectus supplements.
Pentwater Capital-managed funds increased their indirect stake in Avis Budget Group through derivative exercises. On 2026-03-20, the funds exercised a series of in-the-money put options to acquire multiple blocks of Common Stock, including 1,236,300 shares at $110 per share and additional tranches at $120, $125, $130 and $110. Following these acquisitions, the reported indirect holdings rose to 7,108,300 shares of Common Stock. Over the same period, several short call option positions with strike prices between $150 and $310 per share expired, removing those derivative obligations. All positions are held by Pentwater Funds advised by Pentwater Capital Management LP, and both Pentwater and Matthew Halbower disclaim beneficial ownership beyond any pecuniary interest.
Pentwater-managed funds reported substantial option exercises and share acquisitions in Avis Budget Group, Inc. (CAR). On March 18–19, funds advised by Pentwater Capital Management LP exercised multiple put option positions on CAR, acquiring blocks of common stock at strike prices of $110, $120, $125 and $130 per share through in-the-money derivative exercises.
The funds also bought 211 call options with an $85 strike at an average price of $24.7626 per option and sold 211 put options with an $85 strike at an average price of $12.3082, both expiring on November 20, 2026.
Following these transactions, entities managed by Pentwater indirectly held 5,437,300 shares of CAR common stock. Pentwater and Matthew Halbower each disclaim beneficial ownership beyond any pecuniary interest.
DeGenova Cathleen reported acquisition or exercise transactions in this Form 4 filing.
Avis Budget Group Chief Accounting Officer Cathleen DeGenova reported equity compensation awards rather than open‑market trades. On March 17, 2026, she received 1,301 restricted stock units, each convertible into one share of common stock, vesting in three equal installments on March 17, 2027, 2028 and 2029.
She also received 1,301 performance-based restricted stock units tied to pre-established performance goals, which will vest on March 17, 2029. The number of shares that ultimately vest from this performance award can range from zero to 150% of the 1,301 target units, depending on the company’s performance.
Avis Budget Group reported that executive Jean M. Sera, its SVP, General Counsel, Chief Compliance Officer and Corporate Secretary, received equity-based compensation in the form of restricted stock units. She was granted 2,493 restricted stock units that convert into common stock on a one-to-one basis as they vest in three equal installments on March 17, 2027, 2028 and 2029. She was also granted 2,493 performance-based restricted stock units, which may vest on March 17, 2029 depending on the company’s achievement of pre-set performance goals, with the actual units vesting ranging from zero up to 150% of the target amount.
Linnen Edward P reported acquisition or exercise transactions in this Form 4 filing.
Avis Budget Group reported that EVP and Chief HR Officer Edward P. Linnen received equity awards in the form of restricted stock units. He was granted 3,190 restricted stock units and 3,190 performance-based restricted stock units, each convertible into common stock on a one-to-one basis upon vesting.
The time-based units vest in three equal installments on March 17, 2027, 2028 and 2029. The performance-based units are scheduled to vest on March 17, 2029, with the actual number earned ranging from zero to 150% of the 3,190 target units, depending on pre-established performance goals.
AVIS BUDGET GROUP, INC. executive Ravi Simhambhatla received equity awards in the form of restricted stock units tied to the company’s common stock. He was granted 4,417 time-based restricted stock units that convert one-for-one into common shares and vest in three equal installments on March 17, 2027, 2028 and 2029. He also received 4,417 performance-based restricted stock units that may vest on March 17, 2029, with the actual number of units vesting ranging from zero to 150% of this target amount based on the company’s attainment of pre-established performance goals. These awards represent direct ownership incentives rather than open-market purchases.