Rivera Daniel R. 4

What Happened Daniel R. Rivera, CEO of Driven Brands (DRVN), had a total of 5,855 shares withheld by the issuer to satisfy tax obligations tied to vested restricted stock units (RSUs). The withholding is reported as dispositions: 4,045 shares at $11.00 each on 2026-02-27 ($44,495) and 1,810 shares at $11.00 each on 2026-02-28 ($19,910), for a combined value of $64,405. These were automatic tax-withholding transactions rather than open-market sales.

Key Details

• Transaction dates and prices: 2026-02-27 — 4,045 shares @ $11.00; 2026-02-28 — 1,810 shares @ $11.00.
• Total shares withheld/disposed: 5,855; total value ≈ $64,405.
• Shares owned after transaction: Not specified in the information provided.
• Footnotes: F1 — withholding to cover taxes from RSUs granted 02/27/2024; F2 — withholding to cover taxes from RSUs granted 02/28/2023. Both withholdings are authorized by the applicable restricted stock award agreements.
• Filing: Report filed 2026-03-03 covering transactions on 2026-02-27 and 2026-02-28 (no late filing flag indicated in the provided data).

Context

• Code F transactions denote tax withholding tied to awards (common, routine) rather than discretionary insider selling. This is effectively a cashless settlement of tax obligations when RSUs vest and does not necessarily indicate the insider’s view of the company’s shares.