0000950142-21-003611.txt : 20211105 0000950142-21-003611.hdr.sgml : 20211105 20211105172346 ACCESSION NUMBER: 0000950142-21-003611 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20211103 FILED AS OF DATE: 20211105 DATE AS OF CHANGE: 20211105 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: SRS Investment Management, LLC CENTRAL INDEX KEY: 0001503174 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10308 FILM NUMBER: 211385780 BUSINESS ADDRESS: STREET 1: 1 BRYANT PARK STREET 2: 39TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 BUSINESS PHONE: 212-520-7907 MAIL ADDRESS: STREET 1: 1 BRYANT PARK STREET 2: 39TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Sarma Karthik R. CENTRAL INDEX KEY: 0001813668 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-10308 FILM NUMBER: 211385779 MAIL ADDRESS: STREET 1: ONE BRYANT PARK STREET 2: 39TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10036 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: AVIS BUDGET GROUP, INC. CENTRAL INDEX KEY: 0000723612 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-AUTO RENTAL & LEASING (NO DRIVERS) [7510] IRS NUMBER: 060918165 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 6 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 BUSINESS PHONE: 973-496-4700 MAIL ADDRESS: STREET 1: 6 SYLVAN WAY CITY: PARSIPPANY STATE: NJ ZIP: 07054 FORMER COMPANY: FORMER CONFORMED NAME: CENDANT CORP DATE OF NAME CHANGE: 19971218 FORMER COMPANY: FORMER CONFORMED NAME: CUC INTERNATIONAL INC /DE/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: COMP U CARD INTERNATIONAL INC DATE OF NAME CHANGE: 19870914 4 1 es210199803_4-avis.xml OWNERSHIP DOCUMENT X0306 4 2021-11-03 0 0000723612 AVIS BUDGET GROUP, INC. CAR 0001503174 SRS Investment Management, LLC 1 BRYANT PARK 39TH FLOOR NEW YORK NY 10036 1 0 1 0 0001813668 Sarma Karthik R. C/O SRS INVESTMENT MANAGEMENT, LLC 1 BRYANT PARK, 39TH FLOOR NEW YORK NY 10036 1 0 1 0 Common Stock 2021-11-03 4 X 1 500 40.00 A 18430882 I See Footnote Common Stock 2021-11-03 4 J 1 500 301.5571 D 18430882 I See Footnote Common Stock 2021-11-03 4 X 1 18810 30.00 A 18430882 I See Footnote Common Stock 2021-11-03 4 J 1 18810 301.5571 D 18430882 I See Footnote Common Stock 2021-11-03 4 X 1 46225 27.22 A 18430882 I See Footnote Common Stock 2021-11-03 4 J 1 46225 301.5571 D 18430882 I See Footnote Common Stock 2021-11-04 4 X 1 1805 30.00 A 18430882 I See Footnote Common Stock 2021-11-04 4 J 1 1805 299.6486 D 18430882 I See Footnote Common Stock 2021-11-04 4 X 1 4322 27.22 A 18430882 I See Footnote Common Stock 2021-11-04 4 J 1 4322 299.6486 D 18430882 I See Footnote Common Stock 2021-11-05 4 X 1 2044 30.00 A 18430882 I See Footnote Common Stock 2021-11-05 4 J 1 2044 300.0214 D 18430882 I See Footnote Common Stock 2021-11-05 4 X 1 4892 27.22 A 18430882 I See Footnote Common Stock 2021-11-05 4 J 1 4892 300.0214 D 18430882 I See Footnote Equity Swap (obligation to buy) 40.00 2021-11-03 4 X 1 1 D 2023-03-06 Common Stock 500 0 I See Footnote Equity Swap (obligation to buy) 30.00 2021-11-03 4 X 1 1 D 2023-03-06 Common Stock 18810 140890 I See Footnote Equity Swap (obligation to buy) 27.22 2021-11-03 4 X 1 1 D 2023-03-06 Common Stock 46225 1018791 I See Footnote Equity Swap (obligation to buy) 30.00 2021-11-04 4 X 1 1 D 2023-03-06 Common Stock 1805 139085 I See Footnote Equity Swap (obligation to buy) 27.22 2021-11-04 4 X 1 1 D 2023-03-06 Common Stock 4322 1014469 I See Footnote Equity Swap (obligation to buy) 30.00 2021-11-05 4 X 1 1 D 2023-03-06 Common Stock 2044 137041 I See Footnote Equity Swap (obligation to buy) 27.22 2021-11-05 4 X 1 1 D 2023-03-06 Common Stock 4892 1009577 I See Footnote Equity swaps cash settled pursuant to their terms based on the closing price of the Common Stock on the transaction date. The swaps were exercisable at any time. 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. 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. SRS INVESTMENT MANAGEMENT, LLC; by: /s/ David B. Zales, General Counsel 2021-11-05 /s/ Karthik R. Sarma 2021-11-05