Form 4: Driven Brands Holdings CEO Jonathan Fitzpatrick Reports Stock Transactions
SEC Form 4 Filing
Driven Brands Holdings CEO Jonathan Fitzpatrick reports the automatic withholding of shares to cover tax obligations related to vesting restricted stock units.
Summary
- Jonathan G. Fitzpatrick, CEO of Driven Brands Holdings Inc., reported changes in beneficial ownership of company stock.
- On February 27, 2025, 9,945 shares of common stock were disposed of to cover tax obligations related to vesting restricted stock units at a price of $16.23 per share.
- Following this transaction, Fitzpatrick directly owns 2,436,467 shares of common stock.
- On February 28, 2025, 4,777 shares of common stock were disposed of to cover tax obligations related to vesting restricted stock units at a price of $17.53 per share.
- Following this transaction, Fitzpatrick directly owns 2,431,690 shares of common stock.
- These transactions were automatic withholdings by the issuer to satisfy the reporting person's tax obligations associated with the vesting of restricted stock units.
- Fitzpatrick also owns shares purchased through the company's Employee Stock Purchase Plan.
Sentiment
Score: 5
Explanation: The document is a routine disclosure of stock transactions by an insider, primarily for tax obligation purposes, and doesn't inherently indicate positive or negative sentiment.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- The transactions have a minimal impact on shareholders as they are related to tax obligations and represent a small percentage of the CEO's total holdings.
Key Dates
| Date | Description |
|---|---|
| 02/27/2024 | Date of restricted stock units grant associated with the February 27, 2025 transaction. |
| 02/28/2023 | Date of restricted stock units grant associated with the February 28, 2025 transaction. |
| 02/27/2025 | Transaction date for the disposal of 9,945 shares to cover tax obligations. |
| 02/28/2025 | Transaction date for the disposal of 4,777 shares to cover tax obligations. |
| 03/03/2025 | Date of signature for the Form 4 filing. |
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