Form 4: Driven Brands CEO Jonathan Fitzpatrick Sells Shares to Cover Tax Obligations
SEC Form 4 Filing
Driven Brands CEO Jonathan Fitzpatrick sold 3,739 shares of common stock on March 22, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On March 22, 2024, Jonathan G. Fitzpatrick, CEO of Driven Brands Holdings Inc., disposed of 3,739 shares of common stock.
- The transaction was executed to satisfy the reporting person's tax obligation associated with the vesting of restricted stock units granted on March 22, 2022.
- The shares were sold at a price of $15.31 per share.
- Following the transaction, Fitzpatrick beneficially owns 2,446,412 shares of Driven Brands Holdings Inc.
- This number includes shares purchased pursuant to the issuer's Employee Stock Purchase Plan.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing related to stock transactions for tax purposes, indicating a neutral sentiment.
Industry Context
Executive stock sales to cover tax obligations upon vesting of restricted stock units are a common practice.
Key Dates
| Date | Description |
|---|---|
| 03/22/2022 | Date of grant for the restricted stock units that triggered the tax obligation. |
| 03/22/2024 | Date of the transaction (stock sale) to cover tax obligations. |
| 03/26/2024 | Date of signature for the Form 4 filing. |
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