{"url_path":"/sec/htzww/8-k/2026-06-02/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-02","source_url":"https://www.sec.gov/Archives/edgar/data/1657853/0001657853-26-000036-index.html","accession_number":"0001657853-26-000036","cik":"0001657853","ticker":"HTZ","issuer_name":"HERTZ GLOBAL HOLDINGS, INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/1657853/0001657853-26-000036-index.html","primary_entity_key":"0001657853","primary_entity_name":"HERTZ GLOBAL HOLDINGS, INC"},"word_count":1072,"has_tables":true,"body_markdown":"Item 1.01 Entry into a Material Definitive Agreement.\n\nHVF III Rental Car Asset Backed Note Offerings\n\nOn May 28, 2026, Hertz Vehicle Financing III LLC (“HVF III”), a wholly-owned, special-purpose and bankruptcy remote subsidiary of The Hertz Corporation (“THC”), issued two series of notes to unaffiliated third parties: (1) the Series 2026-1 Fixed Rate Rental Car Asset Backed Notes, Class A, Class B, Class C, Class D, and Class E, in an aggregate principal amount equal to $500,000,000, pursuant to the Series 2026-1 Supplement (the “Series 2026-1 Supplement”), dated as of May 28, 2026, among HVF III, as issuer, THC, as administrator, and The Bank of New York Mellon Trust Company, N.A. (“BNYM”), as trustee, to the Base Indenture (the “Base Indenture”), dated as of June 29, 2021, which was previously filed as Exhibit 10.7 to the Current Report on Form 8-K filed on July 7, 2021; and (2) the Series 2026-2 Fixed Rate Rental Car Asset Backed Notes, Class A, Class B, Class C, Class D, and Class E, in an aggregate principal amount equal to $500,000,000, pursuant to the Series 2026-2 Supplement (the “Series 2026-2 Supplement”), dated as of May 28, 2026, among HVF III, as issuer, THC, as administrator, and BNYM, as trustee, to the Base Indenture.\n\nThe Series 2026-1 Fixed Rate Rental Car Asset Backed Notes, Class A, Class B, Class C, Class D, and Class E (collectively, the “Series 2026-1 Notes”) and the Series 2026-2 Fixed Rate Rental Car Asset Backed Notes, Class A, Class B, Class C, Class D, and Class E (collectively, the “Series 2026-2 Notes”) are described together below as the “Series 2026 Notes.”\n\nTHC utilizes the HVF III securitization platform, which consists of both variable funding notes and medium-term notes, such as the Series 2026 Notes issued in the offerings described herein, to finance its U.S. rental car fleet. Subject to certain conditions, additional notes may be issued in the future under the Base Indenture.\n\nThe Series 2026 Notes were issued with the following terms:\n\nNotes IssuedPrincipalInterest RateExpected Final Payment DateLegal Final Payment Date\n\nSeries 2026-1\n\nClass A$327,000,0005.09%November 2029November 2030\n\nClass B$48,000,0005.67%November 2029November 2030\n\nClass C$64,000,0006.45%November 2029November 2030\n\nClass D$38,000,0007.91%November 2029November 2030\n\nClass E$23,000,0009.64%November 2029November 2030\n\nSeries 2026-2\n\nClass A$327,000,0005.40%November 2031November 2032\n\nClass B$48,000,0006.08%November 2031November 2032\n\nClass C$64,000,0006.76%November 2031November 2032\n\nClass D$38,000,0008.60%November 2031November 2032\n\nClass E$23,000,00010.67%November 2031November 2032\n\nThe Series 2026-1 Class B Notes are subordinated to the Series 2026-1 Class A Notes. The Series 2026-1 Class C Notes are subordinated to the Series 2026-1 Class A Notes and the Series 2026-1 Class B Notes. The Series 2026-1 Class D Notes are subordinated to the Series 2026-1 Class A Notes, the Series 2026-1 Class B Notes, and the Series 2026-1 Class C Notes. The Series 2026-1 Class E Notes are subordinated to the Series 2026-1 Class A Notes, the Series 2026-1 Class B Notes, the Series 2026-1 Class C Notes, and the Series 2026-1 Class D Notes.\n\nThe Series 2026-2 Class B Notes are subordinated to the Series 2026-2 Class A Notes. The Series 2026-2 Class C Notes are subordinated to the Series 2026-2 Class A Notes and the Series 2026-2 Class B Notes. The Series 2026-2 Class D Notes are subordinated to the Series 2026-2 Class A Notes, the Series 2026-2 Class B Notes, and the Series 2026-2 Class C Notes. The Series 2026-2 Class E Notes are subordinated to the Series 2026-2 Class A Notes, the Series 2026-2 Class B Notes, the Series 2026-2 Class C Notes, and the Series 2026-2 Class D Notes.\n\nUnless an amortization event occurs, HVF III is not required to make any principal payments on (i) the Series 2026-1 Notes until June 2029 and (ii) the Series 2026-2 Notes until June 2031. Beginning in June 2029 for the Series 2026-1 Notes and June 2031 for the Series 2026-2 Notes, HVF III is expected to make a payment equal to one-sixth of the initial principal amount until repayment is made in full on the applicable legal final payment date for such series of notes in November 2030 and November 2032, respectively.\n\nThe occurrence and continuation of an amortization event related to the Series 2026 Notes may result in HVF III being required to pay principal on the Series 2026 Notes earlier than anticipated. Amortization events include, among other things, the failure to pay principal or interest in a timely manner, the failure to maintain sufficient assets compared to the outstanding amount\n\nof debt, the failure to maintain sufficient liquidity in the form of reserve accounts or letters of credit, the presence of certain liens on HVF III’s assets, any misrepresentations by HVF III, any covenant defaults and defaults by either HVF III or THC, as administrator of HVF III under the Administration Agreement, dated as of June 29, 2021, which was previously filed as Exhibit 10.9 to the Current Report on Form 8-K filed on July 7, 2021. In the event that one or more amortization events occurs and is continuing, holders of the Series 2026 Notes may force HVF III or BNYM on their behalf to sell vehicles and, if a default occurs under the Master Motor Vehicle Operating Lease and Servicing Agreement (HVF III) (the “Lease”), dated as of June 29, 2021, which was previously filed as Exhibit 10.8 to the Current Report on Form 8-K filed on July 7, 2021, the holders of the Series 2026 Notes may force THC and/or DTG Operations, Inc., a wholly-owned indirect subsidiary of THC, each as a lessee under the Lease, to return vehicles for sale by HVF III. Proceeds of any such sales made during the enforcement of remedies are required to repay the Series 2026 Notes and any notes issued by HVF III in the future.\n\nThe net proceeds of the Series 2026 Notes were used in part to repay the amounts outstanding on HVF III’s Series 2021-A Variable Funding Rental Car Asset Backed Notes. Remaining funds are expected to be used for the future acquisition or refinancing of eligible vehicles to be leased under the Lease or, in certain circumstances, any excess of the proceeds could be distributed by HVF III to THC, as its parent.\n\nThe foregoing descriptions of the Series 2026 Notes are qualified in their entirety by reference to the complete terms and conditions of the Series 2026-1 Supplement and the Series 2026-2 Supplement, copies of which are attached hereto as Exhibits 10.1 and 10.2, respectively, which are incorporated by reference herein."}