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Driven Brands Holdings Inc.·4

Mar 3, 4:23 PM ET

O'Melia Scott L. 4

Research Summary

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Driven Brands (DRVN) CLO Scott L. O'Melia Sells Shares for Taxes

What Happened
Scott L. O'Melia, Chief Legal Officer of Driven Brands (DRVN), had a total of 5,455 shares disposed via issuer tax withholding related to vested restricted stock units. On 2026-02-27, 4,072 shares were withheld at $11.00 per share ($44,792); on 2026-02-28, 1,383 shares were withheld at $11.00 per share ($15,213). These dispositions (code F) are routine tax-withholding actions tied to RSU vesting rather than open-market sales.

Key Details

  • Transaction dates and prices: 2026-02-27 — 4,072 shares @ $11.00; 2026-02-28 — 1,383 shares @ $11.00. Total proceeds withheld ≈ $60,005.
  • Shares owned after transaction: Not specified in the provided filing.
  • Footnotes: F1 — withholding to satisfy tax on RSUs granted 02/27/2024; F2 — withholding to satisfy tax on RSUs granted 02/28/2023. Both actions authorized in the applicable award agreements.
  • Filing timeliness: Form 4 filed 2026-03-03; no late filing flag indicated in the provided data.

Context
These transactions were automatic tax withholdings (not discretionary open-market sales) and are common when restricted stock units vest. Such withholdings are primarily administrative and generally do not convey the insider’s market sentiment.