Driven Brands (DRVN) CEO logs automatic tax-withheld share disposals
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Driven Brands Holdings Inc. director and Chief Executive Officer Daniel R. Rivera reported two tax-withholding dispositions of common stock related to vesting restricted stock units. On February 27, 2026, 4,045 shares were withheld at $11.00 per share, and on February 28, 2026, 1,810 shares were withheld at $11.00 per share. These shares were automatically withheld by the issuer to cover Mr. Rivera’s tax obligations under the applicable restricted stock unit award agreements, rather than sold in open-market transactions. After these transactions, Mr. Rivera directly owned 612,836 shares of Driven Brands common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Rivera Daniel R.
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Tax Withholding | Common Stock | 1,810 | $11.00 | $20K |
| Tax Withholding | Common Stock | 4,045 | $11.00 | $44K |
Holdings After Transaction:
Common Stock — 612,836 shares (Direct)
Footnotes (1)
- Represents 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. This is authorized in the applicable restricted stock award agreement. Represents 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. This is authorized in the applicable restricted stock award agreement.
FAQ
What insider transactions did Driven Brands (DRVN) report for Daniel R. Rivera?
Driven Brands reported two tax-withholding dispositions for CEO Daniel R. Rivera. A total of 5,855 common shares were automatically withheld by the company to cover tax obligations arising from restricted stock unit vesting, rather than sold in open-market trades.
At what price were Daniel R. Rivera’s DRVN tax-withholding dispositions recorded?
Both tax-withholding dispositions for Daniel R. Rivera were recorded at $11.00 per Driven Brands share. This price was used to determine the number of shares the issuer automatically withheld to satisfy the executive’s tax obligations upon restricted stock unit vesting.
Were Daniel R. Rivera’s Driven Brands transactions open-market sales?
The disclosed transactions were not open-market sales. They were automatic tax-withholding dispositions, where Driven Brands withheld shares from vesting restricted stock units to pay Daniel R. Rivera’s tax obligations, as authorized under the applicable restricted stock award agreements.