Form 4: Driven Brands Holdings Inc. Executive Reports Tax Obligation Fulfillment Through Share Withholding
SEC Form 4 Filing
Daniel R. Rivera, EVP and Chief Operating Officer of Driven Brands Holdings Inc., reports the automatic withholding of shares to cover tax obligations related to vested restricted stock units.
Summary
- On March 22, 2025, Daniel R. Rivera, EVP and Chief Operating Officer of Driven Brands Holdings Inc., had 898 shares of common stock withheld by the issuer to satisfy a tax obligation.
- This withholding was related to the vesting of restricted stock units granted on March 22, 2022.
- The price per share for the withholding was $17.41.
- Following the transaction, Rivera directly owns 546,999 shares of Driven Brands Holdings Inc.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations. It is neutral in tone and does not indicate any significant positive or negative developments for the company.
Industry Context
This filing is a routine disclosure related to executive compensation and tax obligations, common in publicly traded companies. It reflects standard practices for managing equity-based compensation.
Comparison to Industry Standards
- Equity compensation and related tax withholding are standard practices across publicly traded companies.
- Companies like AutoZone, O'Reilly Automotive, and Advance Auto Parts also utilize restricted stock units as part of their executive compensation packages, leading to similar Form 4 filings related to tax obligations.
- The number of shares withheld and the resulting ownership stake are specific to the individual executive and the company's compensation policies.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, as it involves the withholding of shares for tax purposes and does not represent a significant change in the executive's ownership stake.
Key Dates
| Date | Description |
|---|---|
| 03/22/2022 | Date of grant for the restricted stock units. |
| 03/22/2025 | Date of the share withholding transaction. |
| 03/25/2025 | Date of signature for the Form 4 filing. |
Keywords
Driven Brands Holdings Inc., DRVN, Daniel R. Rivera, EVP, Chief Operating Officer, Form 4, Share Withholding, Tax Obligation, Restricted Stock Units, Beneficial Ownership
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