Driven Equity LLC - Aug 9, 2021 Form 4 Insider Report for Driven Brands Holdings Inc. (DRVN)

Role
Other*, 10%+ Owner
Signature
See signatures attached as Exhibit 99.1
Stock symbol
DRVN
Transactions as of
Aug 9, 2021
Transactions value $
-$239,850,045
Form type
4
Date filed
8/11/2021, 06:00 PM
Next filing
Sep 10, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRVN Common Stock, par value $0.01 per share Sale -$240M -8.13M -9.88% $29.50 74.2M Aug 9, 2021 See footnote F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Consists of shares held directly by Driven Equity LLC. Driven Equity LLC is controlled by RC Driven Holdco LLC. RC Driven Holdco LLC is controlled by Roark Capital Partners III LP, which is in turn controlled by its general partner, Roark Capital GenPar III LLC. Roark Capital GenPar III LLC is controlled by its managing member, Neal K. Aronson. (Continued in FN2)
F2 (Continued from FN1) Each of RC Driven Holdco LLC, Roark Capital Partners III LP, Roark Capital GenPar III LLC and Mr. Aronson may be deemed to have voting and dispositive power with respect to the common stock directly owned by Driven Equity LLC and therefore be deemed to be the beneficial owner of the common stock held by Driven Equity LLC, but each disclaims beneficial ownership of such common stock except to the extent of any pecuniary interest therein, and this report shall not be deemed an admission that any such entity or person is the beneficial owner of or has any pecuniary interest in, such securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks:

The reporting persons are members of a 10% group with (i) Neal K Aronson and (ii) RC IV Cayman Equity ICW LLC, Roark Capital Partners IV Cayman AIV LP, Roark Capital GenPar IV Cayman AIV LP and Roark Capital GenPar IV Cayman AIV Ltd (the "RC IV Entities"). None of the shares of common stock held by Mr. Aronson and the RC IV Entities are reflected in this report.