Tiffany Mason Understood. And then just in terms of like the shape of the overall company EBITDA margin over the year and particularly how it plays out in Car Wash and PC&G. I know that you had the conversion expenses in Car Wash and then you have the integration expense and sort of revenue headwind and PC on the glass side. So have those, I guess, pressures peaked in those segments? And how are you -- how does that translate to the EBITDA margin shape over the year? In terms of the competitive intensity or ...

Tax Receivable Agreement - The company expects future payments under the Tax Receivable Agreement to aggregate between $160 million and $180 million, assuming no material changes in tax law and sufficient taxable income [199]. - The majority of the obligation under the Tax Receivable Agreement is expected to be repaid by the end of the 2025 fiscal year [199]. - Payments under the Tax Receivable Agreement could be substantial and may exceed actual cash tax savings if tax benefits are disallowed [198]. - The ability to make payments under the Tax Receivable Agreement is dependent on the subsidiaries' ability to make distributions, which may be restricted by existing debt agreements [202]. - The company has variable interest rate exposure in the Tax Receivable Agreement, with deferred payments accruing interest at LIBOR plus 1.00% or 5.00% per annum depending on the reason for non-payment [331]. Corporate Governance and Control - As of February 27, 2023, Principal Stockholders hold approximately 61% of the outstanding shares, significantly influencing corporate decisions [205]. - The company is classified as a "controlled company" under NASDAQ rules, allowing it to rely on exemptions from certain corporate governance requirements [206]. - The company’s organizational documents may impede or discourage a takeover, potentially depriving investors of premium share opportunities [207]. - The company’s certificate of incorporation restricts business combinations with interested stockholders for three years following their designation as such [209]. - The issuance of preferred stock could delay or prevent a change in control, as the board has the authority to issue shares without further stockholder approval [210]. - The exclusive forum provision in the certificate of incorporation limits stockholders' ability to obtain a favorable judicial forum for disputes [212]. - The company’s certificate of incorporation includes provisions that may limit stockholder actions and empower the board to fill vacancies, which could affect governance [215]. - The company has a board of directors consisting of eight members, three of whom are directors from Principal Stockholders, potentially leading to conflicts of interest [215]. - Future sales of common stock by Principal Stockholders could reduce stock prices, impacting market perception and trading conditions [216]. Financial Risks - The company is exposed to interest rate risk, with a hypothetical 1% increase or decrease in variable debt resulting in a $5 million change in interest expense as of December 31, 2022 [329]. - The company faces commodity risk due to fluctuating global prices for products like motor oil and paint, with attempts to mitigate this through contract renegotiations [332]. - Foreign exchange risk exists from operations in Canada, Europe, and Australia, impacting net income and cash flows, with hedging strategies in place using cross-currency interest rate swaps [333][334]. - Inflation did not significantly affect the company's annual results during 2022, 2021, or 2020, but severe inflation could adversely impact business operations [335]. Market Operations - The company’s common stock began trading on The Nasdaq Global Select Market on January 15, 2021, with outstanding shares including restricted securities eligible for sale under Rule 144 [216]. - The company does not engage in speculative transactions and aims to manage market risks as part of its ongoing business operations [328].

Driven Brands Holdings Inc. (NASDAQ:DRVN) Q4 2022 Earnings Conference Call February 22, 2023 8:30 AM ET Company Participants Kristy Moser - Vice President of Investor Relations Jonathan Fitzpatrick - President and Chief Executive Officer Tiffany Mason - Executive Vice President and Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Seth Sigman - Barclays Christopher Horvers - J.P. Morgan Karen Short - Credit Suisse Liz Suzuki - Bank of America Sharon Zackfia - William Blair ...

Driven Brands Holdings Inc. (NASDAQ:DRVN) Q3 2022 Earnings Conference Call October 26, 2022 9:00 AM ET Company Participants Kristy Moser – Vice President-Investor Relations Jonathan Fitzpatrick – President and Chief Executive Officer Tiffany Mason – Executive Vice President and Chief Financial Officer Conference Call Participants Simeon Gutman – Morgan Stanley Liz Suzuki – Bank of America Sharon Zackfia – William Blair Chris O'Cull – Stifel Peter Keith – Piper Sandler Kate McShane – Goldman Sachs Justin Kle ...

Driven Brands Holdings, Inc. (NASDAQ:DRVN) Q2 2022 Earnings Conference Call July 27, 2022 9:00 AM ET Company Participants Jonathan Fitzpatrick - President, CEO & Director Tiffany Mason - CFO & EVP Conference Call Participants Christopher O'Cull - Stifel, Nicolaus & Company Simeon Gutman - Morgan Stanley Elizabeth Suzuki - Bank of America Merrill Lynch Sharon Zackfia - William Blair & Company Peter Keith - Piper Sandler & Co. Christopher Horvers - JPMorgan Chase & Co. Peter Benedict - Robert W. Baird & Co. O ...

Driven Brands Holdings, Inc. (NASDAQ:DRVN) Q1 2022 Earnings Conference Call April 27, 2022 9:00 AM ET Company Participants Jonathan Fitzpatrick - CEO, President Tiffany Mason - CFO, EVP Rachel Webb - VP, IR Conference Call Participants Simeon Gutman - Morgan Stanley Christopher Horvers - JPMorgan Peter Benedict - Baird Liz Suzuki - Bank of America Kate McShane, - Goldman Sachs Chris OÂ'Cull - Stiefel Karen Short - Barclays Peter Keith - Piper Sandler Operator Good morning and welcome to Driven Brand's First ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 25, 2021 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Title of each class Common Stock, $0.01 par value Trading Symbol DRVN Name of each exchange on which registered The Nasdaq Global Select Market Commission file number: 001-39898 Driven Brands Ho ...

Driven Brands Holdings Inc. (NASDAQ:DRVN) Q4 2021 Earnings Conference Call February 16, 2022 9:00 AM ET Company Participants Jonathan Fitzpatrick – President & Chief Executive Officer Tiffany Mason – Executive Vice President & Chief Financial Officer Rachel Webb – Vice President of Investor Relations Conference Call Participants Jackie Sussman – Morgan Stanley Christian Carlino – JPMorgan Liz Suzuki – Bank of America Sharon Zackfia – William Blair Chris O’Cull – Stifel Karen Short – Barclays Peter Keith – ...

Driven Brands Holdings, Inc. (NASDAQ:DRVN) Q3 2021 Earnings Conference Call October 27, 2021 9:00 AM ET Company Participants Rachel Webb - VP, IR Jonathan Fitzpatrick - President and CEO Tiffany Mason - EVP and CFO Conference Call Participants Liz Suzuki - Bank of America Michael Kessler - Morgan Stanley Chris Horvers - JPMorgan Peter Benedict - Baird Kate McShane - Goldman Sachs Sharon Zackfia - William Blair Peter Keith - Piper Sandler Lavesh Hemnani - Credit Suisse Operator Good morning and welcome to th ...

Driven Brands Holdings, Inc. (NASDAQ:DRVN) Q2 2021 Earnings Conference Call July 28, 2021 9:00 AM ET Company Participants Jonathan Fitzpatrick - President and CEO Tiffany Mason - EVP and CFO Rachel Webb - VP, IR Conference Call Participants Chris Horvers - JPMorgan Simeon Gutman - Morgan Stanley Liz Suzuki - Bank of America Kate McShane - Goldman Sachs Peter Benedict - Baird Sharon Zackfia - William Blair Chris O'Cull - Stifel Lavesh Hemnani - Credit Suisse Karen Short - Barclays Peter Keith - Piper Sandler ...