---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-21-002998"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2021-09-28T23:59:59+00:00"
generated_at: "2026-06-29T01:07:49.695229+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950142-21-002998
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2021-09-28T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.01, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000095014221002998/0000950142-21-002998-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000095014221002998/eh210187282_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-21-002998
- JSON: https://secwatch.observer/filing/0000950142-21-002998.json
- Plain text: https://secwatch.observer/filing/0000950142-21-002998.txt

## Key facts
- Executive change
  Carl Sparks resigned as Director at AVIS BUDGET GROUP, INC..
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723612/000095014221002998/0000950142-21-002998-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.