9 unchanged sentences
The following table provides information about shares of our common stock that may be issued upon the exercise of options and restricted stock units under all of our existing equity compensation plans as of December 31, 2020.
−Removed: Plan Category
−Removed: Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, Rights and Restricted Stock Units (a)
+Added: Plan Category Number of Securities to be Issued Upon Exercise of Outstanding Options, Warrants, Rights and Restricted Stock Units (a)
Weighted-Average
3 unchanged sentences
(Excludes Restricted
−Removed: Stock Units) ($)
−Removed: Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in First Column) (b)
+Added: Stock Units) ($) Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (Excluding Securities Reflected in First Column) (b)
Equity compensation plans approved by security holders 2,148,002 $ — 4,457,508
Equity compensation plans not approved by security holders — — —
−Removed: Includes options and other awards granted under the Amended and Restated Equity and Incentive Plan, which plan was approved by stockholders.
−Removed: Represents 5,352,041 shares available for issuance under the Amended and Restated Equity and Incentive Plan and 2,406,886 shares available for issuance pursuant to the 2009 Employee Stock Purchase Plan.
+Added: Total 2,148,002 $ — 4,457,508
+Added: (a) Includes awards granted under the Amended and Restated Equity and Incentive Plan, which plan was approved by stockholders.
+Added: (b) Represents 4,457,508 shares available for issuance under the Amended and Restated Equity and Incentive Plan.
ISSUER PURCHASES OF EQUITY SECURITIES
−Removed: The following is a summary of the Company’s common stock repurchases by month for the quarter ended December 31, 2019 :
−Removed: Total Number of Shares Purchased
−Removed: Average Price Paid per Share
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
−Removed: Dollar Value of Shares That May Yet Be Purchased under the Plans or Programs
−Removed: November 2019
−Removed: December 2019
The Company’s Board of Directors has authorized the repurchase of up to approximately $1.8 billion of its common stock under a plan originally approved in 2013 and subsequently expanded, most recently in August 2019.
3 unchanged sentences
The repurchase program has no set expiration or termination date.
+Added: During the three months ended December 31, 2020, no common stock repurchases were made under the plan.
PERFORMANCE GRAPH
6 unchanged sentences
As of December 31,
+Added: 2015 2016 2017 2018 2019 2020
Avis Budget Group, Inc.
+Added: $ 100.00 $ 101.07 $ 120.91 $ 61.95 $ 88.84 $ 102.78
S&P Midcap 400 Index $ 100.00 $ 120.74 $ 140.35 $ 124.80 $ 157.49 $ 179.00
2 unchanged sentences
SELECTED FINANCIAL DATA
−Removed: The following discussion should be read in conjunction with Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations, our Consolidated Financial Statements and Notes thereto and other financial information contained elsewhere in this Annual Report on Form 10-K.
−Removed: As of or For the Year Ended December 31,
−Removed: (In millions, except per share data)
−Removed: Results of Operations
−Removed: Adjusted EBITDA (a)
−Removed: Earnings per share
−Removed: Financial Position
−Removed: Assets under vehicle programs
−Removed: Corporate debt
−Removed: Debt under vehicle programs (b)
−Removed: Stockholders’ equity
−Removed: Ratio of debt under vehicle programs to assets under vehicle programs
−Removed: The following table reconciles Net Income to Adjusted EBITDA within our Selected Financial Data, which we define as income (loss) from continuing operations before non-vehicle related depreciation and amortization, any impairment charges, restructuring and other related charges, early extinguishment of debt costs, non-vehicle related interest, transaction-related costs, net charges for unprecedented personal-injury legal matters, non-operational charges related to shareholder activist activity, gain on sale of equity method investment in China and income taxes.
−Removed: Net charges for unprecedented personal-injury legal matters and gain on sale of equity method investment in China are recorded within operating expenses in our Consolidated Statements of Operations.
−Removed: Non-operational charges related to shareholder activist activity include third-party advisory, legal and other professional service fees and are recorded within selling, general and administrative expenses in our Consolidated Statements of Operations.
−Removed: We have revised our definition of Adjusted EBITDA to exclude the gain on sale of equity method investment in China.
−Removed: We did not revise prior years’ Adjusted EBITDA because there were no gains similar in nature to this gain.
−Removed: Our presentation of Adjusted EBITDA may not be comparable to similarly-titled measures used by other companies.
−Removed: See Management’s Discussion and Analysis of Financial Condition and Results of Operations, Item 7, for an explanation of why we believe Adjusted EBITDA is a useful measure.
−Removed: For the Year Ended December 31,
−Removed: Provision for (benefit from) income taxes
−Removed: Income before income taxes
−Removed: Non-vehicle related depreciation and amortization
−Removed: Interest expense related to corporate debt, net
−Removed: Restructuring and other related charges
−Removed: Transaction-related costs, net
−Removed: Early extinguishment of corporate debt
−Removed: Non-operational charges related to shareholder activist activity
−Removed: Gain on sale of equity method investment in China
−Removed: Charges for legal matter, net
−Removed: Adjusted EBITDA
−Removed: Includes related-party debt due to Avis Budget Rental Car Funding (AESOP) LLC (“Avis Budget Rental Car Funding”).
−Removed: See Note 14 to our Consolidated Financial Statements.
−Removed: In presenting the financial data above in conformity with GAAP, we are required to make estimates and assumptions that affect the amounts reported.
−Removed: See “Critical Accounting Policies” under Item 7 of this Annual Report for a detailed discussion of the accounting policies that we believe require subjective and complex judgments that could potentially affect reported results.
+Added: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.