Pentwater Capital Management LP's Form 4/A amendment
AmendedAvis Budget Group, Inc.CAR · filed May 12, 2026
- Accession no.
- 0000902664-26-002383
- Filed
- May 12, 2026, 3:49 PM ET
- Trade date
- Apr 22-23, 2026
- Filing delay
- 20 days
- Rule 10b5-1 plan
- Not checked
- Original filed
- Apr 28, 2026
This filing lists 29 non-derivative transactions and 30 derivative transactions. Open-market sales total $510.9M. It was filed 20 days after the trade.
Reporting owners
A Form 4 can have several reporting owners, such as a person and a fund they control. Trade tables show the first one.
| Owner | Relationship to the company |
|---|---|
| Pentwater Capital Management LPCIK 0001425851 | 10% Owner |
| Halbower MatthewCIK 0002121021 | 10% Owner |
Non-derivative securities (Table I)
Acquisitions and disposals of common stock and similar shares, one row per line on the filing.
| Trade date | Security | Transaction | Shares | Price | Value | Shares after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Apr 22, 2026 | Common Stock | SSaleDisposed | −3,347 | $438.74 | −$1,468,462.78 | 6,177,100 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −7,602 | $257.31 | −$1,956,070.62 | 6,169,498 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −869 | $257.31 | −$223,602.39 | 6,168,629 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −145 | $257.31 | −$37,309.95 | 6,168,484 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −9,802 | $257.31 | −$2,522,152.62 | 6,158,682 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −4,815 | $257.31 | −$1,238,947.65 | 6,153,867 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −46,767 | $257.31 | −$12,033,616.77 | 6,107,100 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −22,806 | $250.61 | −$5,715,411.66 | 6,084,294 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −2,606 | $250.61 | −$653,089.66 | 6,081,688 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −436 | $250.61 | −$109,265.96 | 6,081,252 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −29,406 | $250.61 | −$7,369,437.66 | 6,051,846 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −14,446 | $250.61 | −$3,620,312.06 | 6,037,400 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −140,300 | $250.61 | −$35,160,583 | 5,897,100 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −17,241 | $290.38 | −$5,006,441.58 | 5,879,859 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −8,813 | $290.38 | −$2,559,118.94 | 5,871,046 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −1,341 | $290.38 | −$389,399.58 | 5,869,705 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −99,419 | $290.38 | −$28,869,289.22 | 5,770,286 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −48,841 | $290.38 | −$14,182,449.58 | 5,721,445 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −474,345 | $290.38 | −$137,740,301.1 | 5,247,100 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −6,963 | $278.44 | −$1,938,777.72 | 5,240,137 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −1,039 | $278.44 | −$289,299.16 | 5,239,098 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −78,563 | $278.44 | −$21,875,081.72 | 5,160,535 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −38,596 | $278.44 | −$10,746,670.24 | 5,121,939 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −374,839 | $278.44 | −$104,370,171.16 | 4,747,100 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −137,058 | $264.60 | −$36,265,546.8 | 4,610,042 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −15,664 | $264.60 | −$4,144,694.4 | 4,594,378 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −2,627 | $264.60 | −$695,104.2 | 4,591,751 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −176,728 | $264.60 | −$46,762,228.8 | 4,415,023 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −86,822 | $264.60 | −$22,973,101.2 | 4,328,201 | Indirect | Duplicate filing |
Derivative securities (Table II)
Options, warrants, restricted stock units and similar. Shares are the underlying shares; price and value are for the derivative itself, and the holding after is in derivative units.
| Trade date | Security | Transaction | Underlying shares | Unit price | Value | Held after | Ownership | Flags |
|---|---|---|---|---|---|---|---|---|
| Apr 23, 2026 | Common Stock | SSaleDisposed | −200 | $24.34 | −$48.68 | 2 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −200 | $24.34 | −$48.68 | 2 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −1,400 | $24.34 | −$340.76 | 14 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −800 | $24.34 | −$194.72 | 8 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −6,400 | $24.34 | −$1,557.76 | 64 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −1,000 | $27.34 | −$273.4 | 10 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −200 | $27.34 | −$54.68 | 2 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −200 | $27.34 | −$54.68 | 2 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −1,400 | $27.34 | −$382.76 | 14 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −800 | $27.34 | −$218.72 | 8 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −6,400 | $27.34 | −$1,749.76 | 64 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −1,000 | $26.39 | −$263.9 | 10 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −200 | $26.39 | −$52.78 | 2 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −200 | $26.39 | −$52.78 | 2 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −1,400 | $26.39 | −$369.46 | 14 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −800 | $26.39 | −$211.12 | 8 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −6,400 | $26.39 | −$1,688.96 | 64 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −500 | $30.28 | −$151.4 | 5 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −100 | $30.28 | −$30.28 | 1 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −700 | $30.28 | −$211.96 | 7 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −400 | $30.28 | −$121.12 | 4 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −3,300 | $30.28 | −$999.24 | 33 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −500 | $26.39 | −$131.95 | 5 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −100 | $26.39 | −$26.39 | 1 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −100 | $26.39 | −$26.39 | 1 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −700 | $26.39 | −$184.73 | 7 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −400 | $26.39 | −$105.56 | 4 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −3,200 | $26.39 | −$844.48 | 32 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −500 | $20.06 | −$100.3 | 5 | Indirect | Duplicate filing |
| Apr 23, 2026 | Common Stock | SSaleDisposed | −100 | $20.06 | −$20.06 | 1 | Indirect | Duplicate filing |
Footnotes and remarks
Livermore keeps the footnotes that transaction prices refer to, all footnotes of amendments (Form 4/A) and the filing's remarks. Other footnotes, such as how indirect holdings are held or the details of a trading plan, are only in the original on SEC EDGAR.
- F1
This Form 4/A is filed by Pentwater Capital Management LP ("PCM") and Matthew Halbower ("Mr. Halbower") (collectively, the "Reporting Persons") with respect to securities held by certain funds (the "Pentwater Funds"), including the funds named herein, to which PCM serves as investment adviser. Mr. Halbower is the sole shareholder of MCH PWCM Holdings Inc., the general partner of PCM. Each of the foregoing disclaims beneficial ownership in the securities reported except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose. The Reporting Persons are in discussions with the Issuer and, to the extent required pursuant to Section 16(b), will voluntarily pay any realized short swing profits. The Reporting Persons are filing this Form 4/A solely to amend and restate footnotes 2-8 of the Form 4 as follows.
- F2
Trades by Oceana Master Fund Ltd.
- F3
Trades by Pentwater Credit Master Fund Ltd.
- F4
Trades by LMA SPC for and on behalf of the MAP 98 Segregated Portfolio.
- F5
Trades by Pentwater Equity Opportunities Master Fund Ltd.
- F6
Trades by Crown Managed Accounts SPC acting for and on behalf of Crown/PW Segregated Portfolio.
- F7
Trades by Pentwater Merger Arbitrage Master Fund Ltd.
- F8
Exercisable at any time.
Remarks
Because of the SEC Form 4 filing limitation of 30 transactions per form, this Form 4 is being split into 6 forms. This is form 2 of 6.