PENTWATER CAPITAL MANAGEMENT LP reported 5 transactions at AVIS BUDGET GROUP, INC.

Review the transaction codes below to understand the nature of each event.

PENTWATER CAPITAL MANAGEMENT LP

Filed: 3/17/2026ACC: 0000902664-26-001623

InsiderPENTWATER CAPITAL MANAGEMENT LPCIK 1425851

→

IssuerAVIS BUDGET GROUP, INC.CIK 723612

10% Owner

Since Mar 2026

+260.77K

Net shares

Net buyer

$33.32M

Total acquired

Open market trades

0B · 0S

Total transactions

263.40K acquired · 2.63K disposed

Non-Derivative Transactions5

Common Stock, par value $0.01 per share {Common Stock)

Indirect

X · X

+109.30K

Price / share

$125.00

Trade value

$13.66M

% of position

2.7%

3/12/2026

4.10M→4.21M

Common Stock

Indirect

X · X

+75.50K

Price / share

$130.00

Trade value

$9.81M

% of position

1.8%

3/12/2026

4.21M→4.28M

Common Stock

Indirect

X · X

+1.10K

Price / share

$120.00

Trade value

$132K

% of position

0.0%

3/13/2026

4.28M→4.28M

Common Stock

Indirect

X · X

+72.50K

Price / share

$125.00

Trade value

$9.06M

% of position

1.7%

3/13/2026

4.28M→4.36M

Common Stock

Indirect

X · X

+5K

Price / share

$130.00

Trade value

$650K

% of position

0.1%

3/13/2026

4.36M→4.36M

Total

Net shares

+263.40K

Net value

$33.32M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock, par value $0.01 per share {Common Stock) Indirect	3/12/2026	X · X	+109.30K	$125.00	$13.66M	2.7%	4.10M	4.21M
Common Stock Indirect	3/12/2026	X · X	+75.50K	$130.00	$9.81M	1.8%	4.21M	4.28M
Common Stock Indirect	3/13/2026	X · X	+1.10K	$120.00	$132K	0.0%	4.28M	4.28M
Common Stock Indirect	3/13/2026	X · X	+72.50K	$125.00	$9.06M	1.7%	4.28M	4.36M
Common Stock Indirect	3/13/2026	X · X	+5K	$130.00	$650K	0.1%	4.36M	4.36M
Total			+263.40K		$33.32M

Derivative Transactions5

Put Option (obligation to buy)

Indirect

X · X

Converts to

Common Stock

109.30K shares

−1.09K

Strike price

125

Held after

5.33K

Exercisable

—

3/12/2026

Put Option (obligation to buy)

Indirect

X · X

Converts to

Common Stock

75.50K shares

−755.00

Strike price

130

Held after

1.12K

Exercisable

—

3/12/2026

Put Option (obligation to buy)

Indirect

X · X

Converts to

Common Stock

1.10K shares

−11.00

Strike price

120

Held after

4.36K

Exercisable

—

3/13/2026

Put Option (obligation to buy)

Indirect

X · X

Converts to

Common Stock

72.50K shares

−725.00

Strike price

125

Held after

4.60K

Exercisable

—

3/13/2026

Put Option (obligation to buy)

Indirect

X · X

Converts to

Common Stock

5K shares

−50.00

Strike price

130

Held after

1.07K

Exercisable

—

3/13/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Put Option (obligation to buy) Indirect	Common Stock109.30K shares	3/12/2026	X · X	−1.09K	125	—	5.33K
Put Option (obligation to buy) Indirect	Common Stock75.50K shares	3/12/2026	X · X	−755.00	130	—	1.12K
Put Option (obligation to buy) Indirect	Common Stock1.10K shares	3/13/2026	X · X	−11.00	120	—	4.36K
Put Option (obligation to buy) Indirect	Common Stock72.50K shares	3/13/2026	X · X	−725.00	125	—	4.60K
Put Option (obligation to buy) Indirect	Common Stock5K shares	3/13/2026	X · X	−50.00	130	—	1.07K