RC IV Cayman ICW Holdings LLC - Sep 8, 2021 Form 4 Insider Report for Driven Brands Holdings Inc. (DRVN)

Signature
See signatures attached as Exhibit 99.1
Stock symbol
DRVN
Transactions as of
Sep 8, 2021
Transactions value $
-$8,384,254
Form type
4
Date filed
9/10/2021, 06:10 PM
Previous filing
Aug 11, 2021
Next filing
Sep 15, 2022

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 -$8.38M -284K -0.81% $29.50 35M Sep 8, 2021 See footnote F1, F2, F3
* 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 RC IV Cayman ICW Holdings LLC. RC IV Cayman ICW Holdings LLC is controlled by RC IV Cayman Equity ICW LLC. RC IV Cayman Equity ICW LLC is controlled by Roark Capital Partners IV Cayman AIV LP, which is in turn controlled by its general partner, Roark Capital GenPar IV Cayman AIV LP. Roark Capital GenPar IV Cayman AIV LP is controlled by its general partner, Roark Capital GenPar IV Cayman AIV Ltd. (Continued in FN2)
F2 (Continued from FN1) Each of Roark Capital Partners IV Cayman AIV LP, Roark Capital GenPar IV Cayman AIV LP and Roark Capital GenPar IV Cayman AIV Ltd. may be deemed to have voting and dispositive power with respect to the common stock directly owned by RC IV Cayman ICW Holdings LLC and therefore be deemed to be the beneficial owner of the common stock held by RC IV Cayman ICW Holdings 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.
F3 These shares were sold by RC IV Cayman ICW Holdings LLC pursuant to the underwriters' exercise in part of the option granted to the underwriters in connection with the recently closed public offering of common stock by Driven Equity LLC and RC IV Cayman ICW Holdings LLC.

Remarks:

The reporting persons are members of a 10% group with Driven Equity LLC, RC Driven Holdco LLC, Roark Capital Partners III LP, Roark Capital GenPar III LLC and (the "Driven Equity Parties") Neal K Aronson. None of the shares of common stock held by Mr. Aronson and the Driven Equity Entities are reflected in this report.