Form 4: Driven Brands Holdings Inc. Executive Daniel R. Rivera Reports Stock Transactions
SEC Form 4 Filing
Driven Brands Holdings Inc.'s Chief Operating Officer, Daniel R. Rivera, reports acquisition of restricted stock units and subsequent disposal of shares to cover tax obligations.
Summary
- On February 27, 2024, Daniel R. Rivera, Chief Operating Officer of Driven Brands Holdings Inc., acquired 35,074 shares of common stock in the form of restricted stock units (RSUs) at a price of $0.
- These RSUs will vest in three equal installments on February 27, 2025, February 27, 2026, and February 27, 2027, contingent upon continuous service.
- On February 28, 2024, Rivera disposed of 1,659 shares of common stock at a price of $13.56 to satisfy tax obligations related to the vesting of restricted stock units granted on February 28, 2023.
- Following these transactions, Rivera beneficially owns 547,258 shares of Driven Brands Holdings Inc.
Sentiment
Score: 5
Explanation: The document reflects standard executive compensation practices and stock transactions, indicating a neutral sentiment.
Industry Context
This Form 4 filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies. It provides transparency into the transactions of company insiders.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 02/28/2023 | Date of restricted stock units grant related to tax obligation. |
| 02/27/2024 | Date of acquisition of 35,074 restricted stock units. |
| 02/28/2024 | Date of disposal of 1,659 shares to cover tax obligations. |
| 02/27/2025 | First vesting date for the acquired restricted stock units. |
| 02/27/2026 | Second vesting date for the acquired restricted stock units. |
| 02/27/2027 | Third vesting date for the acquired restricted stock units. |
| 02/29/2024 | Date of signature of the Form 4 filing. |
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