Avis Budget Group Enters Material Definitive Agreement
Ticker: CAR · Form: 8-K · Filed: Sep 8, 2025 · CIK: 723612
| Field | Detail |
|---|---|
| Company | Avis Budget Group, INC. (CAR) |
| Form Type | 8-K |
| Filed Date | Sep 8, 2025 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, exhibits
TL;DR
AVIS inked a new material definitive agreement on 9/5/25, filing includes exhibits.
AI Summary
On September 5, 2025, Avis Budget Group, Inc. entered into a material definitive agreement. The filing also includes financial statements and exhibits related to this agreement. The company is incorporated in Delaware and its fiscal year ends on December 31st.
Why It Matters
This filing indicates a significant new contract or partnership for Avis Budget Group, which could impact its future operations and financial performance.
Risk Assessment
Risk Level: medium — Entering into a material definitive agreement can introduce new risks and opportunities that are not yet fully understood.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of the company's financial reporting year.)
Key Players & Entities
- Avis Budget Group, Inc. (company) — Registrant
- September 5, 2025 (date) — Date of Earliest Event Reported
- Delaware (jurisdiction) — State of Incorporation
- 001-10308 (filing_id) — Commission File Number
- 06-0918165 (ein) — I.R.S. Employer Identification No.
- 379 Interpace Parkway (address) — Business Address
FAQ
What is the nature of the material definitive agreement entered into by Avis Budget Group, Inc. on September 5, 2025?
The filing does not specify the exact nature of the agreement, only that it is a material definitive agreement and includes financial statements and exhibits.
What are the key dates associated with this 8-K filing?
The date of the report and the earliest event reported is September 5, 2025. The filing was made on September 8, 2025.
Where is Avis Budget Group, Inc. incorporated and what is its IRS Employer Identification Number?
Avis Budget Group, Inc. is incorporated in Delaware and its IRS Employer Identification Number is 06-0918165.
What is the SIC code for Avis Budget Group, Inc. and what does it represent?
The SIC code is 7510, which represents SERVICES-AUTO RENTAL & LEASING (NO DRIVERS).
Does the filing mention any previous company names or dates of name changes?
Yes, the filing lists former company names including CENDANT CORP (name change 19971218), CUC INTERNATIONAL INC /DE/ (name change 19920703), and COMP U CARD INTERNATIONAL INC (name change 19870914).
Filing Stats: 900 words · 4 min read · ~3 pages · Grade level 12.3 · Accepted 2025-09-08 16:59:13
Key Financial Figures
- $0.01 — h Registered Common Stock, par value $0.01 CAR The Nasdaq Global Select Market
Filing Documents
- eh250675621_8k.htm (8-K) — 27KB
- eh250675621_ex1001.htm (EX-10.1) — 32KB
- 0000950142-25-002401.txt ( ) — 229KB
- car-20250905.xsd (EX-101.SCH) — 3KB
- car-20250905_lab.xml (EX-101.LAB) — 33KB
- car-20250905_pre.xml (EX-101.PRE) — 22KB
- eh250675621_8k_htm.xml (XML) — 3KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. Second Amendment to Fourth Amended and Restated Cooperation Agreement On September 5, 2025, Avis Budget Group, Inc. (the "Company") entered into a second amendment (the "Amendment") to the Fourth Amended and Restated Cooperation Agreement, dated as of December 23, 2022 (the "Fourth A&R Cooperation Agreement"), among the Company, SRS Investment Management, LLC and certain of its affiliates (together, "SRS"). The Amendment revises the voting cap on voting securities beneficially owned by SRS from 35% to 45% such that any voting securities beneficially owned by SRS in excess of this cap shall be voted in the same proportion as the votes cast by the Company's other stockholders. Pursuant to the Amendment, the size of the Company's board of directors (the "Board") will be fixed at five (5) or six (6) directors (the "Board Size Cap") so long as SRS continues to beneficially own at least 10% of the Company's voting securities. In the event a director unaffiliated with SRS ceases to serve on the Board, the Board will act expeditiously to appoint a replacement director unaffiliated with SRS. The Amendment further provides that no more than two (2) directors of the Company may be affiliates of SRS. If SRS transfers voting securities of the Company to a holder of 10% or more of the Company's voting securities, the Board Size Cap will fall away but no more than one-third (1/3) of the Board or two (2) directors, whichever is greater, may be affiliated with SRS and/or a 10% holder. The Amendment further provides that, unless previously approved by a majority of directors unaffiliated with SRS or with a holder of 10% or more of the Company's voting securities, SRS (and its subsequent 10% transferees) may not transfer, shares to any person who beneficially owns, or would beneficially own following such transfer, 10% or more of the Company's voting securities unless prior to such transfer, such person agrees pursuant to a
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. The following exhibits are filed as part of this report: Exhibit No. Description 10.1 Second Amendment, dated as of September 5, 2025, to the Fourth Amended and Restated Cooperation Agreement, dated as of December 23, 2022, by and among Avis Budget Group, Inc., SRS Investment Management, LLC and certain of its affiliates. 104 The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AVIS BUDGET GROUP, INC. Date: September 8, 2025 By: /s/ Jean M. Sera Name: Jean M. Sera Title: Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary