Form 4: Driven Brands CFO Gary Ferrera Reports Acquisition and Disposal of Common Stock
SEC Form 4
Gary Ferrera, CFO of Driven Brands Holdings Inc., reports acquiring and disposing of common stock and holding restricted stock units.
Summary
- Gary Ferrera, the Chief Financial Officer of Driven Brands Holdings Inc., filed a Form 4 detailing changes in beneficial ownership.
- On February 27, 2024, Ferrera acquired 41,174 shares of common stock at $0.
- Ferrera also disposed of an unspecified amount of common stock on the same date.
- Following these transactions, Ferrera beneficially owns 104,275 shares of common stock.
- The filing also indicates that Ferrera holds restricted stock units (RSUs) which will vest in three equal installments on February 27, 2025, February 27, 2026, and February 27, 2027, contingent upon continuous service.
Sentiment
Score: 5
Explanation: This is a routine filing related to stock transactions and RSU grants, with no inherently positive or negative implications.
Future Outlook
The vesting of RSUs is contingent upon the Reporting Person's continuous service.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders.
Key Dates
| Date | Description |
|---|---|
| 02/27/2024 | Date of stock acquisition and disposal. |
| 02/27/2025 | First vesting date for restricted stock units. |
| 02/27/2026 | Second vesting date for restricted stock units. |
| 02/27/2027 | Third vesting date for restricted stock units. |
| 02/29/2024 | Date of signature on the Form 4 filing. |
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