Michael Beland - Feb 28, 2023 Form 4 Insider Report for Driven Brands Holdings Inc. (DRVN)

Role: SVP & Chief Accounting Officer
Signature: /s/ Scott O'Melia, Attorney in Fact
Stock symbol: DRVN
Transactions as of: Feb 28, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/2/2023, 07:07 PM
Previous filing: Dec 28, 2023
Next filing: Mar 24, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DRVN	Common Stock	Award	$0	+2.41K	+73.98%	$0.00	5.66K	Feb 28, 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DRVN	Performance-based restricted stock units	Award	$0	+1.93K		$0.00	1.93K	Feb 28, 2023	Common Stock	1.93K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Consists of restricted stock units ("RSU"), which represent a contingent right to receive one share of Common Stock for each RSU, and will vest in three equal installments on February 28, 2024, February 28, 2025, and February 28, 2026, provided the Reporting Person remains in continuous service on each vesting date.
F2	Each performance-based restricted stock unit ("PSU") reflects the contingent right to receive a variable number of shares of capital stock based on achieving performance goals. These PSUs will vest on December 28, 2024, subject to the Company's achieving relative total shareholder returns for the period commencing on January 1, 2023 and ending on December 27, 2025, compared to a defined stock market index, provided the Reporting Person remains in continuous service on the vesting date.

Content

Consists of restricted stock units ("RSU"), which represent a contingent right to receive one share of Common Stock for each RSU, and will vest in three equal installments on February 28, 2024, February 28, 2025, and February 28, 2026, provided the Reporting Person remains in continuous service on each vesting date.

Each performance-based restricted stock unit ("PSU") reflects the contingent right to receive a variable number of shares of capital stock based on achieving performance goals. These PSUs will vest on December 28, 2024, subject to the Company's achieving relative total shareholder returns for the period commencing on January 1, 2023 and ending on December 27, 2025, compared to a defined stock market index, provided the Reporting Person remains in continuous service on the vesting date.