Driven Brands Holdings Inc. Files Definitive Proxy Statement

Ticker: DRVN · Form: DEF 14A · Filed: Mar 27, 2024 · CIK: 1804745

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, Driven Brands Holdings, Executive Compensation, Shareholder Meeting

TL;DR

<b>Driven Brands Holdings Inc. has filed its Definitive Proxy Statement for the period ending May 9, 2024, detailing executive compensation and corporate governance.</b>

AI Summary

Driven Brands Holdings Inc. (DRVN) filed a Proxy Statement (DEF 14A) with the SEC on March 27, 2024. Driven Brands Holdings Inc. filed a Definitive Proxy Statement (DEF 14A) on March 27, 2024. The filing covers the period ending May 9, 2024. The company's fiscal year ends on December 30th. The filing includes information related to executive compensation, specifically equity awards. Driven Brands Holdings Inc. is incorporated in Delaware and headquartered in Charlotte, NC.

Why It Matters

For investors and stakeholders tracking Driven Brands Holdings Inc., this filing contains several important signals. This DEF 14A filing is crucial for shareholders as it outlines proposals to be voted on at the annual meeting, including executive compensation details and director elections. Understanding the executive compensation structure, particularly equity awards, provides insight into management's incentives and alignment with shareholder interests.

Risk Assessment

Risk Level: low — Driven Brands Holdings Inc. shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial or operational concerns.

Analyst Insight

Shareholders should review the proxy statement to understand executive compensation, director nominations, and any other proposals requiring their vote.

Key Numbers

Key Players & Entities

FAQ

When did Driven Brands Holdings Inc. file this DEF 14A?

Driven Brands Holdings Inc. filed this Proxy Statement (DEF 14A) with the SEC on March 27, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Driven Brands Holdings Inc. (DRVN).

Where can I read the original DEF 14A filing from Driven Brands Holdings Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Driven Brands Holdings Inc..

What are the key takeaways from Driven Brands Holdings Inc.'s DEF 14A?

Driven Brands Holdings Inc. filed this DEF 14A on March 27, 2024. Key takeaways: Driven Brands Holdings Inc. filed a Definitive Proxy Statement (DEF 14A) on March 27, 2024.. The filing covers the period ending May 9, 2024.. The company's fiscal year ends on December 30th..

Is Driven Brands Holdings Inc. a risky investment based on this filing?

Based on this DEF 14A, Driven Brands Holdings Inc. presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial or operational concerns.

What should investors do after reading Driven Brands Holdings Inc.'s DEF 14A?

Shareholders should review the proxy statement to understand executive compensation, director nominations, and any other proposals requiring their vote. The overall sentiment from this filing is neutral.

How does Driven Brands Holdings Inc. compare to its industry peers?

Driven Brands Holdings Inc. operates within the automotive repair, services, and parking industry.

Are there regulatory concerns for Driven Brands Holdings Inc.?

The filing is a standard DEF 14A, subject to SEC regulations for proxy solicitations.

Industry Context

Driven Brands Holdings Inc. operates within the automotive repair, services, and parking industry.

Regulatory Implications

The filing is a standard DEF 14A, subject to SEC regulations for proxy solicitations.

What Investors Should Do

  1. Review the detailed executive compensation breakdown in the proxy statement.
  2. Understand the proposals being presented for shareholder vote at the upcoming meeting.
  3. Assess the company's governance practices as outlined in the filing.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual disclosure for proxy statements and does not represent a change from previous filing types.

Filing Stats: 4,589 words · 18 min read · ~15 pages · Grade level 11.8 · Accepted 2024-03-27 16:31:05

Filing Documents

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 21 HUMAN CAPITAL MANAGEMENT 23 PROPOSAL TWO: ADVISORY VOTE TO APPROVE THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS 24

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 25 Compensation Discussion & Analysis 25 Compensation Committee Report 36

Executive Compensation Tables

Executive Compensation Tables 37 Summary Compensation Table 37 2023 Grants of Plan-Based Awards 39 Outstanding Equity Awards at Fiscal Year-End 2023 41 Option Exercises and Stock Vested in Fiscal Year 2023 43 Retirement Benefits 44 Potential Payments Upon Termination of Employment or Change in Control 45 Severance Benefits under Employment Agreements and Offer Letters 45 PAY VERSUS PERFORMANCE 49 CEO PAY RATIO 52 PROPOSAL THREE: APPROVAL OF THE AMENDED AND RESTATED DRIVEN BRANDS HOLDINGS INC. 2021 OMNIBUS INCENTIVE PLAN 53 PROPOSAL FOUR RATIFICATION OF THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS OUR INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 28, 2024 61 Independent Registered Public Accountants Fees and Services 61 AUDIT COMMITTEE REPORT 62 INFORMATION CONCERNING SOLICITATION AND VOTING 63 QUESTIONS AND ANSWERS ABOUT THE 2024 ANNUAL MEETING OF STOCKHOLDERS 64 STOCKHOLDER INFORMATION FOR FUTURE ANNUAL MEETINGS 68 HOUSEHOLDING MATTERS 68 OTHER MATTERS 69 EXHIBIT A A-1 EXHIBIT B B-1 Table of Contents DRIVEN BRANDS HOLDINGS INC. PROXY STATEMENT ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY 9, 2024 VOTING MATTERS This Proxy Statement is furnished to the holders of our common stock in connection with the solicitation of proxies on behalf of our Board of Directors (" Board ") for use at Driven Brands Holdings Inc.'s (" Driven Brands " or the " Company ") 2024 Annual Meeting of Stockholders (the " Annual Meeting ") to be held on May 9, 2024 at 12:00 p.m., Eastern Daylight Time (" EDT "), virtually via live webcast at www.virtualshareholdermeeting.com/DRVN2024 , or for use at any adjournment or postponement thereof, for the purposes set forth herein and in the accompanying Notice of 2024 Annual Meeting of Stockholders. Only stockholders of record at the close of business on March 13, 2024, the record date, are entitled to notice of an

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