Form 4: Driven Brands Holdings Inc. Executive Disposes of Shares to Cover Tax Obligations
SEC Form 4 Filing
Daniel R. Rivera, Chief Operating Officer of Driven Brands Holdings Inc., disposed of shares to cover tax obligations related to vesting restricted stock units.
Summary
- On February 27, 2025, Daniel R. Rivera, the Chief Operating Officer of Driven Brands Holdings Inc., disposed of 3,112 shares of common stock at a price of $16.23.
- This transaction was due to the automatic withholding by the issuer to satisfy the reporting person's tax obligation associated with the vesting of restricted stock units granted on February 27, 2024.
- Following this transaction, Rivera beneficially owns 543,248 shares of Driven Brands Holdings Inc.
- On February 28, 2025, Rivera disposed of 1,619 shares of common stock at a price of $17.53.
- This transaction was due to the automatic withholding by the issuer to satisfy the reporting person's tax obligation associated with the vesting of restricted stock units granted on February 28, 2023.
- Following this transaction, Rivera beneficially owns 541,629 shares of Driven Brands Holdings Inc.
Sentiment
Score: 5
Explanation: The document describes a routine transaction related to tax obligations, which is neither particularly positive nor negative.
Industry Context
Executive share disposals to cover tax obligations are a common occurrence, particularly after the vesting of restricted stock units. This is a normal part of executive compensation and financial planning.
Stakeholder Impact
- The disposal of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to be significant given the reason for the transaction.
Key Dates
| Date | Description |
|---|---|
| 02/28/2023 | Date of restricted stock units grant associated with tax obligation satisfied on 02/28/2025. |
| 02/27/2024 | Date of restricted stock units grant associated with tax obligation satisfied on 02/27/2025. |
| 02/27/2025 | Transaction date of share disposal to cover tax obligations. |
| 02/28/2025 | Transaction date of share disposal to cover tax obligations. |
| 03/03/2025 | Date of signature on the Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.