Driven Brands Holdings Inc. filed a Form 8-K on September 15, 2026, disclosing an updated capital allocation strategy that includes a $100 million share repurchase authorization approved by its Board of Directors.

Key Highlights

  • $100 million repurchase authorization: The Board approved a $100 million share repurchase authorization, effective September 15, 2026.
  • Long-term leverage target set: The company has set a long-term net leverage target of 2-3x Net Debt to Adjusted EBITDA.
  • Take 5 growth commitment: According to the filing, the company will continue to invest in Take 5 growth as part of its updated capital allocation priorities.
  • Repurchase methods: Repurchases may be made through open market transactions or otherwise, including pursuant to plans under Rules 10b5-1 and 10b-18 of the Exchange Act.
  • Conditions apply: The filing states that the size and timing of any repurchases will depend on price, market and business conditions, and other factors.

Driven Brands Updates Capital Allocation Priorities and Authorizes Share Buyback

Driven Brands Holdings Inc. (NASDAQ:DRVN), headquartered in Charlotte, North Carolina, disclosed via an Item 7.01 Regulation FD filing that its Board of Directors announced updated capital allocation priorities on September 15, 2026. Central to the update is a $100 million share repurchase authorization, also effective September 15, 2026, which the filing refers to as the "Authorization."

According to the filing, repurchases under the Authorization may be conducted through open market transactions or by other means, including repurchase plans administered in accordance with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934. The filing notes that "the size and timing of any repurchases will depend on price, market and business conditions, and other factors," indicating no fixed repurchase schedule has been established.

The updated priorities also include a stated long-term net leverage target of 2-3x Net Debt to Adjusted EBITDA, and a continued commitment to investing in Take 5 growth. The company furnished a press release dated September 15, 2026, as Exhibit 99.1 to the filing. The filing specifies that the Item 7.01 disclosure, including the exhibit, is furnished and "shall not be deemed to be 'filed' for purposes of Section 18 of the Exchange Act," and is not incorporated by reference into other filings except where expressly stated. The filing was signed by Scott O'Melia, Executive Vice President, Chief Legal Officer, and Secretary.

What Was Disclosed

Driven Brands disclosed updated capital allocation priorities, including a $100 million share repurchase authorization effective September 15, 2026, a long-term net leverage target of 2-3x Net Debt to Adjusted EBITDA, and continued investment in Take 5 growth.