Director Sparks resigns from Avis Budget board; triggers non-compliance with Nasdaq audit committee rule

AVIS BUDGET GROUP, INC.

Carl Sparks resigns from Board, effective Oct 1, 2021, and from Audit and Governance Committees.
Resignation not due to any dispute with the company.
Audit Committee drops to two independent members, violating Nasdaq Rule 5605(c)(2)(A).
Company notified Nasdaq on Sept 28 and has a cure period to regain compliance.
Avis expects to restore full audit committee independence within the cure period.

item 3.01 item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Carl Sparks

Director

CAR · AVIS BUDGET GROUP, INC.

Effective: 2021-10-01
Filed: September 28, 2021, 7:59 PM ET

On September 27, 2021, Carl Sparks announced his intention to resign from the Board of Directors of Avis Budget Group, Inc. (the “Company”), effective October 1, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Carl Sparks resigned as Director at AVIS BUDGET GROUP, INC..

Action: resigned
Role: Director

Exact text from the filing

On September 27, 2021, Carl Sparks announced his intention to resign from the Board of Directors of Avis Budget Group, Inc. (the “Company”), effective October 1, 2021.

View on SEC.gov

AVIS BUDGET GROUP, INC. filing history →

Source: SEC EDGAR

accession 0000950142-21-002998

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.