EVP & Chief Digital and Innovation Officer Veresh Sita resigns effective May 13, 2022

AVIS BUDGET GROUP, INC.

Cash severance of approximately $1M plus prorated 2022 annual bonus.
Acceleration of 6,871 time-based restricted stock units; all other unvested awards canceled.
Subject to non-competition and non-solicitation covenants for two years following separation.
Entitled to continued company car usage for one year after separation.

item 5.02 item 9.01

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Departed

Veresh Sita

Executive Vice President and Chief Digital and Innovation Officer

CAR · AVIS BUDGET GROUP, INC.

Effective: 2022-05-13
Filed: April 22, 2022, 7:59 PM ET

Veresh Sita entered into a separation agreement (the “Separation Agreement”), pursuant to which Mr. Sita will resign from his position as Executive Vice President and Chief Digital and Innovation Officer of the Company effective May 13, 2022.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Veresh Sita resigned as Executive Vice President and Chief Digital and Innovation Officer at AVIS BUDGET GROUP, INC..

Action: resigned
Role: Executive Vice President and Chief Digital and Innovation Officer

Exact text from the filing

Veresh Sita entered into a separation agreement (the “Separation Agreement”), pursuant to which Mr. Sita will resign from his position as Executive Vice President and Chief Digital and Innovation Officer of the Company effective May 13, 2022.

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Source: SEC EDGAR

accession 0000950142-22-001473

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