8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of Earliest Event Reported): December 30, 2025

Avis Budget Group, Inc.

(Exact name of registrant as specified in its charter)

(973) 496-4700

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.):

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

On December 30, 2025 (the “Closing Date”), our Interpace Funding LLC subsidiary (“Interpace Funding”) issued $965 million of alternative funding asset-backed securities with a targeted two-year term and a maturity date of June 20, 2028, comprised of approximately $844 million of floating rate Class A Notes, $44 million of 5.65% Class B Notes and $77 million of 7.35% Class C Notes. The notes were issued under the Series 2025-1 Supplement, dated as of the Closing Date, between Interpace Funding and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”) and Series 2025-1 Agent, to the Base Indenture, dated as of the Closing Date, between Interpace Funding and the Trustee (the “Base Indenture”).

The notes are secured under the Base Indenture by certain vehicles in our domestic fleet and other related assets. In connection with the issuance, on December 31, 2025, we repaid an aggregate amount of $965 million of notes issued by our Avis Budget Rental Car Funding (AESOP) LLC subsidiary pursuant to certain asset-backed variable funding financing facilities, consisting of $906 million of the Series 2010-6 Notes and $59 million of the Series 2015-3 Notes.

Certain purchasers of the notes, the trustee and their respective affiliates have performed, and may in the future perform, various commercial banking, investment banking and other financial advisory services for us and our subsidiaries for which they have received, and will receive, customary fees and expenses.

The information described above under Item 1.01 of this report is incorporated into this Item 2.03 by reference.

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 hereto duly authorized.

Date: January 5, 2026