Avis Budget Group, Inc 8-K, filed Oct 6, 2026
Avis Budget Group, Inc. (CAR)
About this 8-K
Avis Budget Group, Inc filed this 8-K on October 6, 2026, reporting on events of October 5, 2026.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Events.
On October 5, 2026, Avis Budget Group, Inc. (the “Company”) was paid a settlement amount of $650,000,000 in cash (the “Settlement Amount”), pursuant to the previously reported Settlement and Release Agreement entered into on June 19, 2026 with Pentwater Capital Management LP and certain affiliated persons (“Pentwater”), to settle the Company’s lawsuit against Pentwater for the recovery of short-swing profits under Section 16(b) of the Securities Exchange Act of 1934. The payment of the Settlement Amount was approved by the court and will be recognized in the Company’s fourth quarter financial statements.
The Company expects to use a portion of the Settlement Amount to repay the remaining $350 million outstanding principal amount of its 5.750% Senior Notes due 2027 prior to year end.
Forward-Looking Statements
Statements regarding the expected use of the Settlement Amount are “forward-looking statements” and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements. These risks and uncertainties include, but are not limited to, our expectations regarding the use of the Settlement Amount, which may be affected by changes in market conditions, our liquidity needs or other factors. Additional information concerning these and other important risks and uncertainties can be found in the Company’s filings with the SEC, including under the captions “Forward-Looking Statements” and “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2026 and June 30, 2026. The Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances. Nothing herein shall constitute a notice of redemption with respect to the 5.750% Senior Notes due 2027.
SIGNATURE
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. | |||
| By: | /s/ Jean M. Sera | ||
| Name: | Jean M. Sera | ||
| Title: | Senior Vice President, General Counsel, Chief Compliance Officer and Corporate Secretary | ||
Date: October 6, 2026