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    Joseph A. Ferraro

    President and Chief Executive Officer at Avis Budget Group Inc
    Since June 2020
    Age
    68 years
    Tenure
    Has been serving at CAR since 1979, holding roles such as Interim President and CEO (January to June 2020), President, Americas (January 2015 to December 2019), and Senior Vice President, North America Operations (October 2011 to December 2014), before assuming the role of President and CEO in June 2020.

    Also at Avis Budget Group Inc

    JP
    Jagdeep Pahwa
    Executive Chairman of the Board
    BJC
    Brian J. Choi
    Executive Vice President and Chief Transformation Officer
    CD
    Cathleen DeGenova
    Senior Vice President and Chief Accounting Officer

    About

    Joseph A. Ferraro is currently 68 years old and has built a long-standing career at CAR since joining in 1979.

    He has advanced through several key leadership positions, including serving as Interim President and CEO from January 2020 to June 2020, as well as holding roles such as President, Americas and Senior Vice President of North America Operations.

    In June 2020, he took on the role of President and CEO, a position from which he will transition to a Board Advisor role effective June 30, 2025.

    No educational background details are provided in the documents, and his professional record remains the primary highlight of his profile.

    $CAR Performance Under Joseph A. Ferraro

    Past Roles

    OrganizationRoleDate RangeDetails
    Avis Budget Group (CAR)Interim President and Chief Executive OfficerJanuary 2020 – June 2020Previous role before current CEO
    Avis Budget Group (CAR)President, AmericasJanuary 2015 – December 2019
    Avis Budget Group (CAR)Senior Vice President, North America OperationsOctober 2011 – December 2014
    Avis Budget Group (CAR)Various positions in North American operations1979 – N/AJoined CAR in 1979

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,300,000 AnnuallyFixed annual compensation; includes deferred amounts under the Company’s Deferred Compensation Plan/401(k)
    Pension Benefits- $24,644 N/ADecrease in pension value due to the frozen qualified defined benefit pension plan
    All Other Compensation$272,708 AnnuallyIncludes Deferred Compensation Plan contributions ($216,670), Perquisites: Personal Aircraft ($15,380), Financial Services ($12,580), Car Lease ($27,370), and Insurance Premiums ($708)

    Performance Compensation

    Data from  FY 2024

    Restricted Stock Units (RSUs)

    MetricValueAdditional Details
    Grant DateMarch 13, 2024
    Grant Date Fair Value$2,675,041 Calculated based on closing price on grant date; dividend equivalent stock units apply
    Vesting ScheduleMarch 13, 2025, 2026, 2027 Vests in three equal installments contingent on continued service

    Performance Stock Units (PSUs)

    MetricValueAdditional Details
    Grant DateMarch 13, 2024
    Grant Date Fair Value$2,675,041 If highest performance achieved, PSUs value would be $6,687,603
    Performance Metric3-year cumulative Adjusted EBITDA Vesting contingent on performance and continued service
    Performance Levels - Threshold11,826 shares
    Performance Levels - Target23,652 shares
    Performance Levels - Maximum35,478 shares
    Vesting DateMarch 13, 2027 Based solely on meeting the performance goal over the evaluation period
    Dividend EquivalentsIncluded Accrue on the PSU awards and subject to the same vesting conditions

    This outlines the detailed components, performance metrics, targets, and vesting schedules for the stock awards awarded to Joseph A. Ferraro in 2024.