---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-25-002401"
form_type: "8-K"
ticker: "CAR"
cik: "0000723612"
company_name: "AVIS BUDGET GROUP, INC."
filed_at: "2025-09-08T23:59:59+00:00"
generated_at: "2026-05-17T07:48:00.728623+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Avis Budget amends cooperation agreement with SRS, raises voting cap to 45%

## Summary
- SRS voting cap increased from 35% to 45%; excess voting rights to be voted proportionally with other stockholders.
- Board size fixed at 5-6 directors while SRS holds ≥10% of voting securities; SRS limited to 2 directors.
- SRS currently holds ~49.5% voting rights, triggering proportional voting on excess above 45% immediately.
- New restrictions on SRS selling shares to 10%+ holder unless that holder agrees to 5-year 'interested stockholder' treatment under DGCL.
- Amendment requires special committee approval for any extraordinary transaction with SRS and ensures equal per-share consideration.

## SEC filing metadata
- accession: 0000950142-25-002401
- form_type: 8-K
- ticker: CAR
- cik: 0000723612
- company_name: AVIS BUDGET GROUP, INC.
- filed_at: 2025-09-08T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723612/000095014225002401/0000950142-25-002401-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723612/000095014225002401/eh250675621_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-25-002401
- JSON: https://secwatch.observer/filing/0000950142-25-002401.json
- Plain text: https://secwatch.observer/filing/0000950142-25-002401.txt

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