Driven Brands Reports Financials, Officer Changes
Ticker: DRVN · Form: 8-K · Filed: Aug 1, 2024 · CIK: 1804745
Sentiment: neutral
Topics: financial-results, officer-changes, regulation-fd
TL;DR
Driven Brands dropped its Q3 results and some exec news. Check the numbers.
AI Summary
Driven Brands Holdings Inc. announced its financial results for the period ending July 26, 2024. The company filed an 8-K report detailing its results of operations and financial condition, alongside information regarding director and officer changes and compensatory arrangements. The filing also includes financial statements and exhibits.
Why It Matters
This filing provides investors with updated financial performance data and information on key personnel changes, which can impact the company's strategic direction and operational execution.
Risk Assessment
Risk Level: medium — The filing contains financial results and information about executive changes, which can introduce uncertainty and affect investor confidence.
Key Players & Entities
- Driven Brands Holdings Inc. (company) — Registrant
- July 26, 2024 (date) — Earliest event reported
- Delaware (jurisdiction) — State of incorporation
- 440 South Church Street (address) — Business and mailing address
FAQ
What specific financial results were reported for the period ending July 26, 2024?
The filing indicates that Driven Brands Holdings Inc. reported its results of operations and financial condition for the period ending July 26, 2024, but the specific figures are detailed within the attached financial statements and exhibits.
What types of officer and director changes were reported?
The filing reports on the departure of directors or certain officers, the election of directors, and the appointment of certain officers, as well as compensatory arrangements for certain officers.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on July 26, 2024.
What is the primary business of Driven Brands Holdings Inc. according to the SIC code?
According to the Standard Industrial Classification code provided, Driven Brands Holdings Inc. is in the 'SERVICES-AUTOMOTIVE REPAIR, SERVICES & PARKING' industry.
Where is Driven Brands Holdings Inc. headquartered?
Driven Brands Holdings Inc. is headquartered at 440 South Church Street, Suite 700, Charlotte, NC 28202.
Filing Stats: 1,290 words · 5 min read · ~4 pages · Grade level 10.6 · Accepted 2024-08-01 07:30:32
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value DRVN The Nasdaq Global Se
- $700,000 — vides for: (i) an annual base salary of $700,000; (ii) an annual performance-based cash
- $200,000 — thereof; (iv) a one-time cash bonus of $200,000 (subject to repayment if Mr. Diamond vo
- $3.5 million — equity award with a grant date value of $3.5 million comprised 50% of RSUs which will vest r
Filing Documents
- d877753d8k.htm (8-K) — 32KB
- d877753dex101.htm (EX-10.1) — 36KB
- d877753dex991.htm (EX-99.1) — 295KB
- d877753dex992.htm (EX-99.2) — 7KB
- g877753g21p52.jpg (GRAPHIC) — 4KB
- g877753g56f92.jpg (GRAPHIC) — 8KB
- 0001193125-24-190597.txt ( ) — 550KB
- drvn-20240726.xsd (EX-101.SCH) — 3KB
- drvn-20240726_lab.xml (EX-101.LAB) — 18KB
- drvn-20240726_pre.xml (EX-101.PRE) — 11KB
- d877753d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Offer Letter dated July 26, 2024, by and between the Company and Michael Diamond 99.1 Press Release dated August 1, 2024, announcing financial results for the quarter ended June 29, 2024 99.2 Press Release dated August 1, 2024, announcing the appointment of Michael Diamond as Chief Financial Officer 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DRIVEN BRANDS HOLDINGS INC. Date: August 1, 2024 By: /s/ Scott O'Melia Name: Scott O'Melia Title: Executive Vice President, General Counsel and Secretary