{"schema_version":"secwatch.filing_event.v1","accession":"0000723612-25-000002","form_type":"8-K","ticker":"CAR","cik":"0000723612","company_name":"AVIS BUDGET GROUP, INC.","filed_at":"2025-02-11T23:59:59+00:00","discovered_at":"2026-05-14T18:03:06.197402+00:00","generated_at":"2026-05-26T23:37:04.286393+00:00","sec_items":["2.02","5.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Avis Budget Q4 net loss ~$2B on fleet impairment; CEO Ferraro steps down, Choi named successor","bullets":["Q4 revenue $2.7B; net loss nearly $2B including $2.3B impairment; Adjusted EBITDA loss $101M.","Full year revenue $11.8B, net loss $1.8B; CEO guides to at least $1B Adjusted EBITDA in 2025.","CEO Joe Ferraro to become Board Advisor effective June 30, 2025; Brian Choi appointed CEO effective July 1, 2025.","Jagdeep Pahwa named Executive Chairman effective March 1, 2025.","Choi's base salary rises to $1.0M; 2025 LTI grant value of $3.75M."],"urls":{"canonical":"https://secwatch.observer/filing/0000723612-25-000002","json":"https://secwatch.observer/filing/0000723612-25-000002.json","markdown":"https://secwatch.observer/filing/0000723612-25-000002.md","text":"https://secwatch.observer/filing/0000723612-25-000002.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/723612/000072361225000002/0000723612-25-000002-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/723612/000072361225000002/car-20250210.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T23:37:04.286393+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"04afef91ed","claim":"Joseph A. Ferraro changed role as President and Chief Executive Officer at AVIS BUDGET GROUP, INC..","evidence_excerpt":"On February 11, 2025, we announced that Joseph A. Ferraro, President and Chief Executive Officer, will transition to a Board Advisor role effective June 30, 2025.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000072361225000002/0000723612-25-000002-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"transition to a Board Advisor role"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"1c757e6c9c","claim":"Jagdeep Pahwa was appointed as Executive Chairman at AVIS BUDGET GROUP, INC..","evidence_excerpt":"The Board also appointed Jagdeep Pahwa, the Company's current Board Chairman, as Executive Chairman, effective March 1, 2025.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000072361225000002/0000723612-25-000002-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Executive Chairman"}],"fact_type":"executive_change"},{"claim_id":"fcaefb4f01","claim":"Brian J. Choi was appointed as Chief Executive Officer at AVIS BUDGET GROUP, INC..","evidence_excerpt":"the Board of Directors (the \"Board\") of the Company appointed Brian J. Choi, who has been serving as Chief Transformation Officer, as the Company's Chief Executive Officer (\"CEO\"), effective July 1, 2025.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/723612/000072361225000002/0000723612-25-000002-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}