Form 4: Driven Brands Holdings Inc. Executive Michael Beland Reports Stock Disposal for Tax Obligations
SEC Form 4
Michael Beland, SVP & Chief Accounting Officer of Driven Brands Holdings Inc., disposed of 70 shares of common stock on July 13, 2024, to cover tax obligations related to vesting restricted stock units.
Summary
- On July 13, 2024, Michael Beland, the SVP & Chief Accounting Officer of Driven Brands Holdings Inc., disposed of 70 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 July 13, 2021.
- The shares were disposed of at a price of $13.02 per share.
- Following the transaction, Beland directly owns 10,725 shares of Driven Brands Holdings Inc. common stock.
Sentiment
Score: 5
Explanation: This is a neutral event. It's a routine transaction related to tax obligations and doesn't indicate a change in the executive's confidence in the company.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction appears to be a standard tax-related stock disposal, common among executives with equity compensation.
Key Dates
| Date | Description |
|---|---|
| 07/13/2021 | Date of grant for the restricted stock units that triggered the tax obligation. |
| 07/13/2024 | Date of the stock disposal transaction. |
| 07/16/2024 | Date of signature for the Form 4 filing. |
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