Amended Statement of Beneficial Ownership (sc 13d/a)
March 18 2022 - 5:01PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 18)*
Under the Securities Exchange Act of 1934
AVIS BUDGET GROUP, INC. |
(Name of Issuer) |
|
Common Stock, par value $0.01 per share |
(Title of Class of Securities) |
|
053774105 |
(CUSIP Number) |
|
David Zales
SRS Investment Management, LLC
One Bryant Park
39th Floor
New York, New York 10036
(212) 520-7900 |
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
|
March 16, 2022 |
(Date of Event which Requires Filing of this Statement) |
If the filing person has previously filed a statement on Schedule
13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f)
or Rule 13d-1(g), check the following box. ☐
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall
not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
CUSIP No. 053774105 |
SCHEDULE 13D |
Page
2 of 5 |
1 |
NAME OF REPORTING PERSON
SRS INVESTMENT MANAGEMENT, LLC |
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
(b) ☐ |
3 |
SEC USE ONLY
|
|
4 |
SOURCE OF FUNDS
AF |
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
|
☐ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States |
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH |
7 |
SOLE VOTING POWER
-0- |
8 |
SHARED VOTING POWER
18,430,882 shares of Common Stock |
9 |
SOLE DISPOSITIVE POWER
-0- |
10 |
SHARED DISPOSITIVE POWER
18,430,882 shares of Common Stock |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,430,882 shares of Common Stock |
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐ |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.3% |
|
14 |
TYPE OF REPORTING PERSON
IA, OO |
|
CUSIP No. 053774105 |
SCHEDULE 13D |
Page
3 of 5 |
1 |
NAME OF REPORTING PERSON
KARTHIK R. SARMA |
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
|
(a) ☐
(b) ☐ |
3 |
SEC USE ONLY
|
|
4 |
SOURCE OF FUNDS
AF |
|
5 |
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e)
|
☐ |
6 |
CITIZENSHIP OR PLACE OF ORGANIZATION
India |
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING PERSON
WITH |
7 |
SOLE VOTING POWER
-0- |
8 |
SHARED VOTING POWER
18,430,882 shares of Common Stock |
9 |
SOLE DISPOSITIVE POWER
-0- |
10 |
SHARED DISPOSITIVE POWER
18,430,882 shares of Common Stock |
11 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,430,882 shares of Common Stock |
|
12 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
|
☐ |
13 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.3% |
|
14 |
TYPE OF REPORTING PERSON
IN |
|
CUSIP No. 053774105 |
SCHEDULE 13D |
Page
4 of 5 |
This Amendment to Schedule 13D (this “Amendment”)
relates to the Schedule 13D filed with the Securities and Exchange Commission (the “SEC”) on January 25, 2016 (the
“Initial 13D” and, as amended and supplemented through the date of this Amendment, collectively, the “Schedule
13D”) by the Reporting Persons, relating to the common stock, par value $0.01 per share (the “Common Stock”),
of Avis Budget Group, Inc., a Delaware corporation (the “Issuer”). Capitalized terms used herein and not otherwise
defined in this Amendment have the meanings set forth in the Schedule 13D.
Percentage beneficial ownership reported
herein is based on 53,767,484 shares of common stock outstanding as of February 11, 2022, as reported in the Issuer’s Annual
Report on Form 10-K for the year ended December 31, 2021.
This Amendment amends Item 6 as set forth
below:
| Item 6. | CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER |
Item 6 of the Schedule 13D is hereby amended and supplemented by
the addition of the following:
On March 14, 2022 and March 16, 2022, the Funds distributed or
settled cash-settled equity swaps with respect to an aggregate of 1,445,730 shares of Common Stock. After giving effect to such
transactions, the Reporting Persons may be deemed to have economic exposure to an aggregate of 8,010,844 shares of Common Stock
pursuant to cash-settled equity swaps. The Reporting Persons do not have voting power or dispositive power with respect to the
shares of Common Stock referenced in such swaps and disclaim beneficial ownership of the shares underlying such swaps.
CUSIP No. 053774105 |
SCHEDULE 13D |
Page 5 of 5 |
SIGNATURES
After reasonable inquiry and to the best of his
or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and
correct.
Date: March 18, 2022
|
SRS INVESTMENT MANAGEMENT, LLC |
|
|
|
|
|
|
By: |
/s/ David B. Zales |
|
|
|
Name: David B. Zales |
|
|
|
Title: General Counsel |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
/s/ Karthik R. Sarma |
|
|
KARTHIK R. SARMA |
|
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