PENTWATER CAPITAL MANAGEMENT LP sold 19.5% of their position (843.20K shares) of AVIS BUDGET GROUP, INC. on the open market

Open‑market sale worth $223.11M — a significant reduction. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 1 sale

PENTWATER CAPITAL MANAGEMENT LP

Filed: 4/28/2026ACC: 0000902664-26-002184

InsiderPENTWATER CAPITAL MANAGEMENT LPCIK 1425851

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IssuerAVIS BUDGET GROUP, INC.CIK 723612

10% Owner

Since Mar 2026

-843.50K

Net shares

Net seller

$223.11M

Total sold

Open market trades

0B · 1S

Total transactions

843.50K disposed

Non-Derivative Transactions1

Common Stock

Indirect

S · Sale

−843.20K

Price / share

$264.60

Trade value

$223.11M

% of position

19.5%

4/23/2026

4.33M→3.48M

Total

Net shares

−843.20K

Net value

-$223.11M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Indirect	4/23/2026	S · Sale	−843.20K	$264.60	$223.11M	19.5%	4.33M	3.48M
Total			−843.20K		-$223.11M

Derivative Transactions30

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

220

Held after

1.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

700.00 shares

−7.00

Strike price

220

Held after

7.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

400.00 shares

−4.00

Strike price

220

Held after

4.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

3.20K shares

−32.00

Strike price

220

Held after

32.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

1K shares

−10.00

Strike price

230

Held after

10.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

200.00 shares

−2.00

Strike price

230

Held after

2.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

200.00 shares

−2.00

Strike price

230

Held after

2.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

1.40K shares

−14.00

Strike price

230

Held after

14.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

800.00 shares

−8.00

Strike price

230

Held after

8.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

6.40K shares

−64.00

Strike price

230

Held after

64.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

500.00 shares

−5.00

Strike price

240

Held after

5.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

240

Held after

1.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

240

Held after

1.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

700.00 shares

−7.00

Strike price

240

Held after

7.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

400.00 shares

−4.00

Strike price

240

Held after

4.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

3.20K shares

−32.00

Strike price

240

Held after

32.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

500.00 shares

−5.00

Strike price

250

Held after

5.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

250

Held after

1.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

700.00 shares

−7.00

Strike price

250

Held after

7.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

400.00 shares

−4.00

Strike price

250

Held after

4.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

3.30K shares

−33.00

Strike price

250

Held after

33.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

500.00 shares

−5.00

Strike price

260

Held after

5.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

260

Held after

1.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

260

Held after

1.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

700.00 shares

−7.00

Strike price

260

Held after

7.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

400.00 shares

−4.00

Strike price

260

Held after

4.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

3.20K shares

−32.00

Strike price

260

Held after

32.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

500.00 shares

−5.00

Strike price

270

Held after

5.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

270

Held after

1.00

Exercisable

—

4/23/2026

Call Option (obligation to sell)

Indirect

S · Sale

Converts to

Common Stock

100.00 shares

−1.00

Strike price

270

Held after

1.00

Exercisable

—

4/23/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	220	—	1.00
Call Option (obligation to sell) Indirect	Common Stock700.00 shares	4/23/2026	S · Sale	−7.00	220	—	7.00
Call Option (obligation to sell) Indirect	Common Stock400.00 shares	4/23/2026	S · Sale	−4.00	220	—	4.00
Call Option (obligation to sell) Indirect	Common Stock3.20K shares	4/23/2026	S · Sale	−32.00	220	—	32.00
Call Option (obligation to sell) Indirect	Common Stock1K shares	4/23/2026	S · Sale	−10.00	230	—	10.00
Call Option (obligation to sell) Indirect	Common Stock200.00 shares	4/23/2026	S · Sale	−2.00	230	—	2.00
Call Option (obligation to sell) Indirect	Common Stock200.00 shares	4/23/2026	S · Sale	−2.00	230	—	2.00
Call Option (obligation to sell) Indirect	Common Stock1.40K shares	4/23/2026	S · Sale	−14.00	230	—	14.00
Call Option (obligation to sell) Indirect	Common Stock800.00 shares	4/23/2026	S · Sale	−8.00	230	—	8.00
Call Option (obligation to sell) Indirect	Common Stock6.40K shares	4/23/2026	S · Sale	−64.00	230	—	64.00
Call Option (obligation to sell) Indirect	Common Stock500.00 shares	4/23/2026	S · Sale	−5.00	240	—	5.00
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	240	—	1.00
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	240	—	1.00
Call Option (obligation to sell) Indirect	Common Stock700.00 shares	4/23/2026	S · Sale	−7.00	240	—	7.00
Call Option (obligation to sell) Indirect	Common Stock400.00 shares	4/23/2026	S · Sale	−4.00	240	—	4.00
Call Option (obligation to sell) Indirect	Common Stock3.20K shares	4/23/2026	S · Sale	−32.00	240	—	32.00
Call Option (obligation to sell) Indirect	Common Stock500.00 shares	4/23/2026	S · Sale	−5.00	250	—	5.00
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	250	—	1.00
Call Option (obligation to sell) Indirect	Common Stock700.00 shares	4/23/2026	S · Sale	−7.00	250	—	7.00
Call Option (obligation to sell) Indirect	Common Stock400.00 shares	4/23/2026	S · Sale	−4.00	250	—	4.00
Call Option (obligation to sell) Indirect	Common Stock3.30K shares	4/23/2026	S · Sale	−33.00	250	—	33.00
Call Option (obligation to sell) Indirect	Common Stock500.00 shares	4/23/2026	S · Sale	−5.00	260	—	5.00
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	260	—	1.00
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	260	—	1.00
Call Option (obligation to sell) Indirect	Common Stock700.00 shares	4/23/2026	S · Sale	−7.00	260	—	7.00
Call Option (obligation to sell) Indirect	Common Stock400.00 shares	4/23/2026	S · Sale	−4.00	260	—	4.00
Call Option (obligation to sell) Indirect	Common Stock3.20K shares	4/23/2026	S · Sale	−32.00	260	—	32.00
Call Option (obligation to sell) Indirect	Common Stock500.00 shares	4/23/2026	S · Sale	−5.00	270	—	5.00
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	270	—	1.00
Call Option (obligation to sell) Indirect	Common Stock100.00 shares	4/23/2026	S · Sale	−1.00	270	—	1.00