secwatch.observer — SEC 8-K summary
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Issuer:     Driven Brands Holdings Inc. (DRVN)
CIK:        0001804745
Form:       8-K/A
Filed at:   2025-03-19T23:59:59+00:00
Accession:  0001804745-25-000018
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Driven Brands appoints Daniel Rivera as CEO effective May 9, 2025
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- Daniel Rivera named CEO effective May 9, 2025, succeeding prior leadership.
- Base salary of $800,000, target cash bonus of 150% of salary, equity target of 400% of salary.
- Supplemental equity award of $500,000; awards split 33% RSUs and 67% performance-based PSUs.
- Severance: 18 months salary continuation if terminated without cause or resigns for good reason.
- Board approved compensation arrangement on March 13, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804745/000180474525000018/0001804745-25-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804745/000180474525000018/drvn-20250225.htm
  HTML page:      https://secwatch.observer/filing/0001804745-25-000018

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