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Joseph A. Ferraro

President and Chief Executive Officer at AVIS BUDGET GROUP
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

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.