Form 4: Avis Budget Group Executive Patrick K. Rankin Reports Stock Transactions
SEC Form 4 Filing
Patrick K. Rankin, President, International at Avis Budget Group, reports the vesting and conversion of restricted stock units and dividend equivalent units into common stock, along with related tax withholdings.
Summary
- On March 9, 2024, Patrick K. Rankin, President, International at Avis Budget Group, executed transactions involving the company's stock.
- These transactions included the vesting and conversion of 17,260 restricted stock units and dividend equivalent units into common stock.
- Rankin also disposed of 8,117 shares of common stock to cover tax withholdings related to the vesting of the restricted stock units at a price of $111.96 per share.
- Following these transactions, Rankin directly owns 68,815 shares of Avis Budget Group common stock and varying amounts of restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 03/09/2022 | Date that some restricted stock units vested in three equal installments. |
| 03/09/2023 | Date that some restricted stock units vested in three equal installments. |
| 03/09/2024 | Date of the reported transactions, including vesting of restricted stock units and tax withholdings. |
| 03/09/2025 | Date that some restricted stock units will vest in three equal installments. |
| 03/09/2026 | Date that some restricted stock units will vest in three equal installments. |
| 03/12/2024 | Date of the report filing. |
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