<SEC-DOCUMENT>0000950142-20-002124.txt : 20200831
<SEC-HEADER>0000950142-20-002124.hdr.sgml : 20200831
<ACCEPTANCE-DATETIME>20200831172135
ACCESSION NUMBER:		0000950142-20-002124
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200831
DATE AS OF CHANGE:		20200831
GROUP MEMBERS:		KARTHIK R. SARMA
GROUP MEMBERS:		SRS INVESTMENT MANAGEMENT, LLC

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AVIS BUDGET GROUP, INC.
		CENTRAL INDEX KEY:			0000723612
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-AUTO RENTAL & LEASING (NO DRIVERS) [7510]
		IRS NUMBER:				060918165
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-34719
		FILM NUMBER:		201152584

	BUSINESS ADDRESS:	
		STREET 1:		6 SYLVAN WAY
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
		BUSINESS PHONE:		973-496-4700

	MAIL ADDRESS:	
		STREET 1:		6 SYLVAN WAY
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CENDANT CORP
		DATE OF NAME CHANGE:	19971218

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CUC INTERNATIONAL INC /DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COMP U CARD INTERNATIONAL INC
		DATE OF NAME CHANGE:	19870914

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SRS Investment Management, LLC
		CENTRAL INDEX KEY:			0001503174
		IRS NUMBER:				208182628
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		1 BRYANT PARK
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-520-7907

	MAIL ADDRESS:	
		STREET 1:		1 BRYANT PARK
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>eh2001124_13da12-avis.htm
<DESCRIPTION>AMENDMENT NO. 12
<TEXT>
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    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">UNITED STATES<br>
      SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; line-height: 1.25; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-align: center; line-height: 1.25; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE 13D/A</div>
    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(Amendment No. 12)*</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Under the Securities Exchange Act of 1934</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
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            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold;">AVIS BUDGET GROUP, INC.</div>
            </div>
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          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">(Name of Issuer)</div>
          </td>
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          <td rowspan="1" style="width: 100%; vertical-align: top;">&#160;</td>
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          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;">
            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">Common Stock, par value $0.01 per share</div>
            </div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">(Title of Class of Securities)</div>
          </td>
        </tr>
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          <td rowspan="1" style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); font-weight: bold;">
            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">053774105</div>
            </div>
          </td>
        </tr>
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          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">(CUSIP Number)</div>
          </td>
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          <td rowspan="1" style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
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          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">David Zales<br>
              SRS Investment Management, LLC<br>
              One Bryant Park<br>
              39th Floor<br>
              New York, New York 10036<br>
              (212) 520-7900</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="line-height: 1.25;">
              <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">August 19, 2020</div>
            </div>
          </td>
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          <td style="width: 100%; vertical-align: top;">
            <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">(Date of Event which Requires Filing of this Statement)</div>
          </td>
        </tr>

    </table>
    <div style="line-height: 1.25; margin-bottom: 6pt; color: #000000; font-family: 'Times New Roman', Times, serif;"> <br>
    </div>
    <div style="line-height: 1.25; margin-bottom: 6pt; color: #000000; font-family: 'Times New Roman', Times, serif;">If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D,
      and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
    <div style="line-height: 1.25; margin-bottom: 6pt; color: #000000; font-family: 'Times New Roman', Times, serif;">* The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject
      class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</div>
    <div style="line-height: 1.25; margin-bottom: 6pt; color: #000000; font-family: 'Times New Roman', Times, serif;">The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the
      Securities Exchange Act of 1934 (&#8220;<u>Act</u>&#8221;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).</div>
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              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CUSIP No. 053774105</div>
            </td>
            <td style="width: 60%; vertical-align: top;">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE 13D</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Page 2 of 7<br>
              </div>
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              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">1</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>NAME OF REPORTING PERSON<br>
              </div>
              <div>&#160;</div>
              <div>
                <div>SRS INVESTMENT MANAGEMENT, LLC</div>
              </div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">2</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
              <div>(a)&#160; &#9744;</div>
              <div>(b)&#160; &#9744;</div>
            </td>
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          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">3</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SEC USE ONLY</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">4</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SOURCE OF FUNDS</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">AF <br>
              </div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">5</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
            </td>
          </tr>
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            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">6</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Delaware, United States <br>
              </div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
            </td>
          </tr>

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      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

          <tr>
            <td rowspan="4" style="width: 18%; vertical-align: middle; border-left: #000000 2px solid; border-top: #000000 2px solid;">
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">NUMBER OF</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SHARES</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">BENEFICIALLY</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">OWNED BY EACH</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">REPORTING PERSON</div>
              <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">WITH</div>
            </td>
            <td style="width: 4%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">7</div>
            </td>
            <td style="width: 78%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SOLE VOTING POWER</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">-0- <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">8</div>
            </td>
            <td style="width: 72%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SHARED VOTING POWER</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">
                <div style="line-height: 1.25; color: #FF0000; font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">17,620,080 shares of Common Stock </font><br>
                </div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">9</div>
            </td>
            <td style="width: 72%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SOLE DISPOSITIVE POWER</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">-0- <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 8%; vertical-align: top; border-left: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">10</div>
            </td>
            <td style="width: 72%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SHARED DISPOSITIVE POWER</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;
                <div style="line-height: 1.25;">
                  <div style="line-height: 1.25; color: #FF0000; font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">17,620,080</font><font style="color: rgb(0, 0, 0); font-size: 10pt;"> shares of Common Stock </font><br>
                  </div>
                </div>
              </div>
            </td>
          </tr>

      </table>
      <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">11</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">
                <div style="line-height: 1.25;">
                  <div style="line-height: 1.25; color: #FF0000; font-size: 12pt;"><font style="font-size: 10pt; color: rgb(0, 0, 0);">17,620,080</font><font style="font-size: 10pt; color: rgb(0, 0, 0);"> shares of Common Stock </font><br>
                  </div>
                </div>
              </div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">12</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">13</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">25.3% <br>
              </div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">14</div>
            </td>
            <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">TYPE OF REPORTING PERSON</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">IA, OO <br>
              </div>
            </td>
            <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
            </td>
          </tr>

      </table>
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    <br>
    <div style="text-indent: -9pt; margin-left: 9pt; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;"> </div>
    <div style="line-height: 1.25; color: rgb(0, 0, 0);"> <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
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      <div style="line-height: 1.25; margin-top: 10pt;">
        <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

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              <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CUSIP No. 053774105</div>
              </td>
              <td style="width: 60%; vertical-align: top;">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE 13D</div>
              </td>
              <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Page 3 of&#160; 7<br>
                </div>
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        </div>
        <div><br>
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        <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

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              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">1</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>NAME OF REPORTING PERSON<br>
                </div>
                <div>&#160;</div>
                <div>
                  <div>KARTHIK R. SARMA</div>
                </div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">2</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">
                <div>(a)&#160; &#9744;</div>
                <div>(b)&#160; &#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">3</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SEC USE ONLY</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">4</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SOURCE OF FUNDS</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">AF <br>
                </div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">5</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">6</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CITIZENSHIP OR PLACE OF ORGANIZATION</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">India<br>
                </div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
              </td>
            </tr>

        </table>
        <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

            <tr>
              <td rowspan="4" style="width: 18%; vertical-align: middle; border-left: #000000 2px solid; border-top: #000000 2px solid;">
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">NUMBER OF</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SHARES</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">BENEFICIALLY</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">OWNED BY EACH</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">REPORTING PERSON</div>
                <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">WITH</div>
              </td>
              <td style="width: 4%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">7</div>
              </td>
              <td style="width: 78%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SOLE VOTING POWER</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">-0- <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">8</div>
              </td>
              <td style="width: 72%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SHARED VOTING POWER</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0);">17,620,080 shares of Common Stock </font> </div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">9</div>
              </td>
              <td style="width: 72%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SOLE DISPOSITIVE POWER</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">-0- <br>
                </div>
              </td>
            </tr>
            <tr>
              <td style="width: 8%; vertical-align: top; border-left: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">10</div>
              </td>
              <td style="width: 72%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">SHARED DISPOSITIVE POWER</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0);">17,620,080 shares of Common Stock </font> </div>
              </td>
            </tr>

        </table>
        <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">11</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;"><font style="color: rgb(0, 0, 0);">17,620,080 shares of Common Stock </font> </div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">12</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#9744;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">13</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">25.3% <br>
                </div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
              </td>
            </tr>
            <tr>
              <td style="width: 10%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">14</div>
              </td>
              <td style="width: 80%; vertical-align: top; border-left: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">TYPE OF REPORTING PERSON</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">IN<br>
                </div>
              </td>
              <td style="width: 10%; vertical-align: top; border-right: #000000 2px solid; border-bottom: #000000 2px solid;">
                <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">&#160;</div>
              </td>
            </tr>

        </table>
        <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif;">&#160;</div>
      </div>
    </div>
    <br>
    <div style="line-height: 1.25; margin-bottom: 10pt;">
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                <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                  <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CUSIP No. 053774105</div>
                </td>
                <td style="width: 60%; vertical-align: top;">
                  <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE 13D</div>
                </td>
                <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                  <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Page 4 of 7<br>
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          <div>
            <div style="text-indent: 30pt; line-height: 1.25; margin-bottom: 10pt; color: #000000; font-family: 'Times New Roman', Times, serif;">This Amendment No. 12 to Schedule 13D (this &#8220;<u>Amendment No. 12</u>&#8221;) relates to the Schedule 13D filed with
              the Securities and Exchange Commission (the &#8220;<u>SEC</u>&#8221;) on January 25, 2016 (the &#8220;<u>Initial 13D</u>&#8221; and, as amended and supplemented through the date of this Amendment No. 12, collectively, the &#8220;<u>Schedule 13D</u>&#8221;) by the Reporting
              Persons, relating to the common stock, par value $0.01 per share (the &#8220;<u>Common Stock</u>&#8221;), of Avis Budget Group, Inc., a Delaware corporation (the &#8220;<u>Issuer</u>&#8221;). Capitalized terms used herein and not otherwise defined in this Amendment
              No. 12 have the meanings set forth in the Schedule 13D.</div>
            <div style="text-indent: 30pt; line-height: 1.25; margin-bottom: 10pt; color: #000000; font-family: 'Times New Roman', Times, serif;">This Amendment No. 12 amends Items 3, 4, 5, 6 and 7 as set forth below:</div>
            <div style="line-height: 1.25; margin-bottom: 10pt;">
              <div style="line-height: 1.25; margin-bottom: 10pt;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">SOURCE
                  AND AMOUNT OF FUNDS OR OTHER CONSIDERATION</font></div>
              <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">Item 3 of the Schedule 13D is hereby amended and restated in its entirety, as follows:</div>
              <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">The Reporting Persons used approximately $330,632,306 (including brokerage commissions) of the working capital of the applicable Funds in the
                aggregate to purchase the shares of Common Stock reported in this Schedule 13D. Such shares of Common Stock are or may be held from time to time by the applicable Funds in margin accounts established with their respective brokers or banks
                and a portion of the purchase price for the Common Stock may be obtained through margin borrowing. Securities positions which may be held in the margin accounts, including the Common Stock, may be pledged as collateral security for the
                repayment of debit balances in the margin accounts.</div>
              <div style="line-height: 1.25; margin-bottom: 10pt;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">PURPOSE
                  OF TRANSACTION</font></div>
              <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</div>
              <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">On August 12, 2020, the SRS Parties and the Issuer entered into an Amendment (the &#8220;Amendment&#8221;) to the Third Amended Cooperation Agreement. The
                Amendment, which becomes effective on August 21, 2020, provides that during the Standstill Period, the number of persons that SRS will be entitled to designate to serve as members of the Board of Directors of the Company (the &#8220;Board&#8221;) will
                be reduced from three to two. The Amendment also removes the provisions requiring the Board to appoint additional directors to the Board. Under the terms of the Amendment, the size of each of the Corporate Governance Committee and the
                Compensation Committee will be set at no fewer than two and no more than three members, rather than three members.&#160; The foregoing summary of the Amendment does not purport to be complete and is qualified in its entirety by reference to the
                full text of the Amendment, which is included as Exhibit 99.8 hereto and is incorporated herein by reference.</div>
            </div>
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          </div>
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            <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

                <tr>
                  <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                    <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CUSIP No. 053774105</div>
                  </td>
                  <td style="width: 60%; vertical-align: top;">
                    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE 13D</div>
                  </td>
                  <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                    <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Page 5 of 7<br>
                    </div>
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            </table>
            <div style="line-height: 1.25; margin-bottom: 10pt;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
              </font></div>
            <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">Brian J. Choi resigned from the Board effective August 21, 2020.&#160; He became Chief Financial Officer of the Issuer effective August 24, 2020.&#160;
              While on the Board, Mr. Choi was one of SRS&#8217;s director designees.&#160; He had been a partner at SRS, serving in various roles, from October 2008.&#160; He resigned from SRS effective August 21, 2020 and no longer has any affiliation with SRS.</div>
            <div style="line-height: 1.25; margin-bottom: 10pt;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">Item 5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif; font-weight: bold;">INTEREST
                IN SECURITIES OF THE ISSUER</font></div>
            <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">Paragraphs (a)-(c) of Item 5 of the Schedule 13D are hereby amended and restated in their entirety, as follows:</div>
            <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">(a) The aggregate number of shares of Common Stock to which this Schedule 13D relates is&#160; shares of <font style="color: rgb(0, 0, 0);">17,620,080</font>
              Common Stock, constituting approximately 25.3% of the outstanding Common Stock. All percentages set forth herein are based on 69,668,363 shares of outstanding common stock, par value $0.01, of the Issuer outstanding as of July&#160;27, 2020, as
              reported in the Issuer&#8217;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.&#160; Pursuant to certain cash-settled equity swaps, the Reporting Persons have economic exposure to an additional notional<font style="color: rgb(0, 0, 0);"> <font style="background-color: rgb(255, 255, 255);">11,354,508</font> shares of Common Stock, constituting approximately <font style="background-color: rgb(255, 255, 255);">16.3</font><font style="background-color: rgb(255, 255, 255);">%</font></font> of the outstanding shares of Common Stock, as more fully described in Item 6 of this Schedule 13D.</div>
            <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">(b) Each of the Reporting Persons has the shared power to vote or to direct the vote or dispose or direct the disposition of<font style="color: rgb(0, 0, 0);"> 17,620,080</font> shares of Common Stock.</div>
            <div style="line-height: 1.25; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif;">(c) Information concerning transactions in the Common Stock effected by the Reporting Persons in the past sixty days is set forth below.&#160; All
              such transactions were effected in the open market through a broker and all prices per share include commissions.</div>
            <table style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman'; font-size: 10pt; text-align: left;" id="z00b19bf65be34974a77af8f1865099c1" align="center" border="0" cellpadding="0" cellspacing="0">

                <tr>
                  <td style="width: 32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Date</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Shares Purchased</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                  <td style="width: 32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Price Per Share ($)</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/17/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">67,816</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">30.7959</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom;" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/18/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">132,847</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">31.4700</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/19/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">42,500</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">32.8449</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom;" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/20/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">61,114</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">32.7545</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/21/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">95,723</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">32.2964</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom;" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/24/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">55,500</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">33.7819</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/25/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">56,402</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">33.5760</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom;" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/26/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">114,150</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">33.2610</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);" nowrap="nowrap">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">8/27/2020</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">114,838</div>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249);">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">33.7077</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom; text-align: center;" nowrap="nowrap">8/28/2020 <br>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; text-align: center;">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; text-align: center;">49,900 <br>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; text-align: center;">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom;">
                    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">34.8935</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249); text-align: center;" nowrap="nowrap">8/31/2020 <br>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249); text-align: center;">&#160;</td>
                  <td style="width: 34%; vertical-align: bottom; background-color: rgb(198, 244, 249); text-align: center;">140,350 <br>
                  </td>
                  <td colspan="1" style="width: 1%; vertical-align: bottom; background-color: rgb(198, 244, 249); text-align: center;">&#160;</td>
                  <td style="width: 32%; vertical-align: bottom; background-color: rgb(198, 244, 249);">
                    <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman',Times,serif;">34.3195</div>
                  </td>
                </tr>

            </table>
            <div style="line-height: 1.25; margin-bottom: 10pt;"><br style="line-height: 1.25;">
            </div>
            <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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                <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
            </div>
            <div style="line-height: 1.25; margin-bottom: 10pt;">
              <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

                  <tr>
                    <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                      <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CUSIP No. 053774105</div>
                    </td>
                    <td style="width: 60%; vertical-align: top;">
                      <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE 13D</div>
                    </td>
                    <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                      <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Page 6 of 7<br>
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            <div style="line-height: 1.25; font-family: 'Times New Roman';"> <br>
            </div>
            <div style="line-height: 1.25; margin-bottom: 10pt;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Item 6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER</font></div>
            <div style="text-indent: 30pt; line-height: 1.25; margin-bottom: 10pt; color: #000000; font-family: 'Times New Roman', Times, serif;">Item 6 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</div>
            <div style="text-indent: 30pt; line-height: 1.25; margin-bottom: 10pt; color: #000000; font-family: 'Times New Roman', Times, serif;">On August 12, 2020, the Issuer and the SRS Parties entered into the Amendment, the terms of which are
              described in Item 4 of the Schedule 13D.</div>
            <div style="line-height: 1.25; margin-bottom: 10pt;"><font style="font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">Item 7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="font-family: 'Times New Roman', Times, serif; font-weight: bold; color: #000000;">EXHIBITS</font></div>
            <div style="text-indent: 36pt; line-height: 1.25; margin-bottom: 10pt; color: #000000; font-family: 'Times New Roman', Times, serif;">Item 7 of the Schedule 13D is hereby amended and supplemented by the addition of the following:</div>
            <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: rgb(0, 0, 0);" id="z516f6efcccf94b92858c0bc2cf14beaf" border="0" cellpadding="0" cellspacing="0">

                <tr>
                  <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                  <td style="width: 10%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Exhibit</div>
                  </td>
                  <td style="width: 2%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
                  <td style="width: 83%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Description</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 5%; vertical-align: top;">&#160;</td>
                  <td style="width: 10%; vertical-align: top;">
                    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">99.8</div>
                  </td>
                  <td style="width: 2%; vertical-align: top;">&#160;</td>
                  <td style="width: 83%; vertical-align: top;">
                    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">Amendment to Third Amended and Restated Cooperation Agreement, incorporated by reference to Exhibit 10.1 to the Current Report on Form&#160;8&#8209;K
                      filed by the Issuer on August 13, 2020 (File No. 001-10308)</div>
                  </td>
                </tr>

            </table>
            <div style="line-height: 1.25; margin-bottom: 10pt;"><br style="line-height: 1.25;">
            </div>
          </div>
          <br>
          <div> <br>
          </div>
        </div>
      </div>
    </div>
    <div style="line-height: 1.25;">
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          <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;" noshade="noshade"></div>
      </div>
      <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif;">
        <div style="line-height: 1.25; margin-top: 10pt;">
          <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

              <tr>
                <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                  <div style="line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CUSIP No. 053774105</div>
                </td>
                <td style="width: 60%; vertical-align: top;">
                  <div style="text-align: center; line-height: 1.25; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SCHEDULE 13D</div>
                </td>
                <td style="width: 20%; vertical-align: top; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
                  <div style="text-align: right; line-height: 1.25; font-family: 'Times New Roman', Times, serif;">Page 7 of 7<br>
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    </div>
    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 30pt;"> <br>
    </div>
    <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold; text-align: center; text-indent: 30pt;"> <br>
    </div>
    <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Times New Roman',Times,serif; font-weight: bold; text-align: center;"> SIGNATURES</div>
    <div style="text-indent: 30pt; line-height: 1.25; margin-top: 12pt; color: #000000; font-family: 'Times New Roman', Times, serif;">After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the
      information set forth in this statement is true, complete and correct.</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <div style="text-indent: 30pt; line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">Date: August 31, 2020</div>
    <div style="line-height: 1.25;"><br style="line-height: 1.25;">
    </div>
    <table style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z02a112b0fb074b16944e5ed4038a14a5" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="vertical-align: top;">
            <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SRS INVESTMENT MANAGEMENT, LLC</div>
          </td>
          <td style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
          <td style="width: 5%; vertical-align: top;">&#160;</td>
          <td style="width: 35%; vertical-align: top;">&#160;</td>
          <td style="width: 10%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td style="width: 5%; vertical-align: top; padding-bottom: 2px;">
            <div style="line-height: 1.25; color: #000000; font-family: 'Times New Roman', Times, serif;">By:</div>
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          <td style="width: 35%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
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