Highest-materiality recent filing
Hertz issues $1B asset-backed notes via HVF III at rates 5.09%-10.67%
Issued $1B in two series: Series 2026-1 ($500M) and Series 2026-2 ($500M) on May 28, 2026.
Hertz stockholders elect directors, ratify auditor, approve executive comp at 2026 meeting
Lucy Clark Dougherty and Evangeline Vougessis elected as directors with over 230M and 207M votes for, respectively.
Revenue $2.0B, up 11% YoY, strongest growth in three years. RPD $57.38, up 5.5% YoY.
Hertz issues $221.4M in Class E ABS notes; extends Series 2021-A facility to May 2028
Issued $221.4M aggregate Class E Fixed Rate Rental Car ABS Notes across 11 series, rates 10.67%-12.54%, maturities 2028-2032.
Hertz Q4 2025 net loss narrows to $194M from $479M; EBITDA improves $150M YoY
Net loss $194M ($0.72 diluted EPS) vs $479M loss ($1.56) in Q4 2024; full year net loss $747M ($2.43 EPS).
Hertz issues $1B in asset-backed notes via HVF III; redeems $300M of 2026 senior notes
HVF III issued $450M Series 2025-5 (4.62%-7.74%) and $550M Series 2025-6 (4.89%-8.30%) fixed-rate asset-backed notes due 2030/2032.
Hertz returns to Q3 net income of $184M, record utilization 84%, DPU $273
Net income of $184M ($0.42 diluted EPS) vs loss of $1.33B a year ago; adjusted EPS $0.12.
Hertz appoints Michael Moore as Executive VP, Chief Operating Officer
Appointment effective September 30, 2025; Moore, 60, previously EVP Operations North America since June 2025.
Hertz Corp. issues $425M 5.5% exchangeable senior notes due 2030; capped calls offset dilution
Issued $425M aggregate principal of 5.500% Exchangeable Senior Notes due 2030, including $50M overallotment.
Hertz prices upsized $375M 5.5% exchangeable notes due 2030; upsized from $250M
Notes bear 5.500% interest, mature Oct 1, 2030; initial exchange price ~$9.24/share (32.5% premium to $6.97 close).
$250M aggregate principal of Exchangeable Senior Notes due 2030, plus $37.5M option for additional.
Hertz to receive $154M settlement distribution from automotive parts antitrust class action
Gross settlement of $171.2M less ~$17.1M in claims administrator fees.
Hertz EVP & CHRO Eric Leef resigns; CAO Berg to oversee HR transition
Eric Leef, EVP & Chief Human Resources Officer, resigns effective Sept. 5, 2025.
Hertz Q2 2025 net loss narrows to $294M; Adj EBITDA turns positive $1M
Net loss of $294M ($0.95 diluted loss per share) vs $865M loss ($2.82) YoY; adjusted EPS loss $0.34.
Hertz appoints Mark Kosman as Chief Accounting Officer; General Counsel Katherine Lee Martin resigns
On July 31, 2025, Hertz entered into an offer letter with Mark Kosman, former Ford executive, to serve as SVP and Chief Accounting Officer, starting by September 1, 2025.
Hertz issues €100M Class C Notes at 10.54% under European ABS facility
Issued €100M Class C Notes under European ABS facility; maturity April 2027.
Hertz issues $985M in asset-backed notes across three series; $300M Class B at 9.28%
$300M Series 2021-A Class B notes at 9.28% fixed, commitment termination June 2027, legal final June 2028.
Hertz stockholders elect four directors, ratify Ernst & Young as auditor
All four director nominees elected: Francis Blake, Vincent Intrieri, Michael O'Hara, Thomas Wagner; each with >200M votes for.
Hertz Q1 net loss $443M; adj. EBITDA loss narrows 43% to $325M; DPU improves 40%
Net loss $443M vs $186M YoY; adj. diluted EPS -$1.12 vs -$1.28 (improved on adj. basis).
Hertz extends $1.665B revolver maturity to March 2028; extends ABS facilities
Extended ~$1.665B of revolving credit commitments from June 2026 to March 2028 (springing maturity).
CK Amarillo owns ~58.9% of Hertz common stock; votes shares above 45% threshold in same proportion as other holders.
Hertz Global CAO Kelly Galloway resigns; CFO Haralson to assume principal accounting officer role
Kelly Galloway, SVP and Chief Accounting Officer, resigns to accept external role.
Hertz issues $1B in asset-backed notes across two series to finance rental car fleet
HVF III issued Series 2025-1 and 2025-2 notes, each $500M, with Class A-D notes per series.
Hertz Q4 net loss $479M, adj EBITDA loss narrows; FY net loss $2.9B
GAAP net loss $479M ($1.56/share) in Q4 2024; revenue $2.0B, down 7% YoY.
Hertz discloses $341.1M settlement proposal with cash and debt components
Settlement amount $341.1M: $327.9M contract rate claim, $10M incremental principal, $3.2M milestone payment.
Hertz begins settlement negotiations with Unsecured Notes holders; no agreement as of Feb 10
On Feb 3, 2025, Hertz commenced negotiations with certain Noteholders to settle litigation related to Unsecured Notes.
Issued $500M aggregate principal amount of additional 12.625% First Lien Senior Secured Notes due 2029 at 107.732% of par.
Offering of $500M of 12.625% First Lien Senior Secured Notes due 2029, increasing total to $1.25B outstanding.
Hertz prices $500M add-on of 12.625% first lien notes due 2029, total outstanding $1.25B
$500M additional 12.625% first lien senior secured notes due 2029 priced; total outstanding will be $1.25B.
Hertz Q3 2024 net loss $1.3B ($4.34/sh) includes $1.0B impairment; adj loss $0.68/sh
Revenue $2.6B, down 5% YoY; GAAP net loss $1.332B vs income $629M a year ago.
Hertz adds two new directors: Frank Blake and Lucy Clark Dougherty; board expands to 11
Board increased from 9 to 11 and elected Blake and Clark Dougherty effective Aug 27, 2024.
Hertz posts $865M GAAP net loss in Q2 2024; adjusted EPS -$1.44
Revenue $2.353B (-3% YoY); GAAP net loss $865M ($2.82 diluted loss per share) vs $139M profit year ago.
Hertz issues $750M ABS notes in two series; warrant exercise price adjusted to $13.61
HVF III issued $375M Series 2024-1 notes (Class A-D, rates 5.44%-9.22%) and $375M Series 2024-2 notes (rates 5.48%-9.41%).
$750M First Lien Senior Secured Notes due 2029 at 12.625% interest, issued at par.
Hertz prices $1B notes: $750M first lien at 12.625% and $250M exchangeable at 8.000%
Note Purchase Agreement with CK Amarillo LP affiliate for up to $43.5M of exchangeable notes, subject to cutbacks.
Hertz announces $750M debt offering; sees Q2 2024 Adjusted EBITDA loss of up to $495M
Offers $500M First Lien Senior Secured Notes due 2029 and $250M Exchangeable Senior Second-Lien Secured PIK Notes due 2029.
Hertz appoints Scott Haralson as CFO; COO Justin Keppy resigns
Scott Haralson named CFO, start by end of June 2024; succeeds Alexandra Brooks who departs.
HTZ annual meeting: all director nominees elected, auditor ratified, say-on-pay approved
Colin Farmer (240.5M for), Andrew Shannahan (205.0M for), Wayne West (245.5M for) elected to three-year terms.
Hertz stockholders elect directors, ratify EY, approve say-on-pay at 2024 annual meeting
Colin Farmer, Andrew Shannahan, and Wayne 'Gil' West elected directors with majority 'for' votes.
Hertz reports Q1 GAAP net loss $186M; adjusted EBITDA negative $567M
GAAP net loss $186M ($0.61 loss per diluted share); adjusted net loss $392M ($1.28 per share).
Hertz amends credit facility to relax leverage covenant, adds liquidity requirement until Q2 2025
Amendment No. 8 increases the Consolidated First Lien Leverage Ratio covenant for fiscal quarters ending June 2024 through March 2025.
Hertz General Counsel Colleen Batcheler resigns, effective April 10, 2024
EVP, General Counsel and Secretary Batcheler resigns to accept outside role.
Hertz director Fran Bermanzohn resigns effective March 19, 2024, citing no disagreement
Fran Bermanzohn resigned from the Board on March 19, 2024, after approximately 14 months of service.
CEO Stephen Scherr resigns effective March 31, 2024; Gil West appointed CEO April 1
Stephen Scherr resigns as CEO and board member effective March 31, 2024; no severance benefits.
Kelly Galloway resumes role as Hertz's principal accounting officer after maternity leave
Galloway returned as SVP, Chief Accounting Officer and Controller effective Feb. 27, 2024.
Scott M. Haralson, Executive Vice President and Chief Financial Officer, will become the Company’s principal accounting officer upon Ms. Galloway’s departure from the Company.
On March 12, 2025, Kelly Galloway, Senior Vice President and Chief Accounting Officer of Hertz Global Holdings, Inc. (the “Company”) and The Hertz Corporation (“Hertz”), informed the Company of her intent to resign from her role with the Company and Hertz to accept a role outside the Company.
On August 26, 2024, the Board of Directors of Hertz Global Holdings, Inc. (the “Company”) increased the size of the Board of Directors from 9 to 11 and elected Mr. Francis Blake and Ms. Lucy Clark Dougherty to serve as directors of the Company, effective August 27, 2024, to fill such vacancies.
On August 26, 2024, the Board of Directors of Hertz Global Holdings, Inc. (the “Company”) increased the size of the Board of Directors from 9 to 11 and elected Mr. Francis Blake and Ms. Lucy Clark Dougherty to serve as directors of the Company, effective August 27, 2024, to fill such vacancies.
On May 29, 2024, The Hertz Corporation (the “Company”) entered into an offer letter (the “Offer Letter”) with Scott M. Haralson pursuant to which Mr. Haralson has agreed to serve as Executive Vice President, Chief Financial Officer of the Company and Hertz Global Holdings, Inc.
Colleen Batcheler, Executive Vice President, General Counsel and Secretary of Hertz Global Holdings, Inc. (the “Company”) informed the Company on March 28, 2024, of her intent to resign from her role with the Company, effective April 10, 2024, to accept a role outside the Company.
On March 19, 2024, director Fran Bermanzohn, who joined the Board of Directors (the “Board”) of Hertz Global Holdings, Inc. (the “Company”) approximately 14 months ago, advised the Company of her resignation from the Board effective as of such date.
On March 15, 2024, the Board of the Company appointed Wayne “Gil” West as Chief Executive Officer of the Company and Hertz, effective as of April 1, 2024.
On March 12, 2024, Stephen M. Scherr, Chair of the Board of Directors (the “Board”) and Chief Executive Officer of Hertz Global Holdings, Inc. (the “Company”) and The Hertz Corporation (“Hertz”) notified the Company of his decision to resign as Chief Executive Officer and as a member of the Board of the Company and Hertz, effective as of March 31, 2024.
On March 15, 2024, the Board of the Company appointed Mr. West as a member of the Board of the Company and Hertz, effective as of April 1, 2024, to fill the vacancy created upon Mr. Scherr’s resignation.
On March 12, 2024, Stephen M. Scherr, Chair of the Board of Directors (the “Board”) and Chief Executive Officer of Hertz Global Holdings, Inc. (the “Company”) and The Hertz Corporation (“Hertz”) notified the Company of his decision to resign as Chief Executive Officer and as a member of the Board of the Company and Hertz, effective as of March 31, 2024.
Effective as of February 27, 2024, Ms. Galloway has resumed her role as the Company's principal accounting officer as its Senior Vice President, Chief Accounting Officer and Controller.
Max materiality 0.90 · Median 0.65 · Most common event debt