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Get filing alertsDriven Brands receives waiver extending 2025 annual report deadline to June 10
Filed April 23, 2026 · Period ending April 22, 2026 · ~1 min read
Key Changes
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Company obtained waiver extending deadline to file 2025 Form 10-K to June 10, 2026—significantly beyond the typical 60-90 day window after fiscal year-end (Dec 27, 2025), signaling delays in completing annual financial reporting.
Item 8.01 view on EDGAR → -
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Q1 2026 quarterly report (10-Q) also delayed until 45 days after annual statements are delivered, pushing the filing to late July 2026 at earliest—compounding reporting delays beyond just the annual filing.
Item 8.01 view on EDGAR → -
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Independent auditor reports and back-up manager reports extended by 30 days after annual statements delivered, suggesting the audit process itself may be incomplete or experiencing difficulties.
Item 8.01 view on EDGAR →
Summary
Driven Brands disclosed it received a waiver from its debt indenture trustees extending the deadline to file its 2025 annual report (Form 10-K) to June 10, 2026. The company's fiscal year ended December 27, 2025, meaning the filing is now delayed roughly five months past year-end—well beyond the standard 60-90 day reporting window.
The waiver also pushes back the Q1 2026 quarterly report to 45 days after the annual filing, potentially delaying it until late July. For retail investors, delayed financial reporting is a significant red flag that often signals accounting complexities, internal control issues, or disagreements with auditors. The extension of auditor report deadlines suggests the audit itself may be incomplete.
Shareholders should watch for any disclosures about material weaknesses in internal controls, restatements, or auditor changes when the 10-K is eventually filed. Until then, investors are operating without current financial information on a company that operates franchise automotive services including Take 5 Oil Change and Meineke.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Driven Brands received a waiver extending the deadline to file its 2025 10-K to June 10, 2026 and delaying Q1 2026 quarterly reports.
Added in current filing · verify on EDGAR →
On April 22, 2026, Driven Brands, Inc. (the “U.S. Manager”) and Driven Brands Canada Shared Services, Inc. (the “Canadian Manager” and together with the U.S. Manager, the “Managers”), indirect wholly-owned subsidiaries of the Company, received a waiver (the “WBS Waiver”) under the Second Amended and Restated Base Indenture, dated as of October 20, 2025 (as amended, restated, supplemented, or otherwise modified), by and among Driven Brands Funding, LLC (the “Issuer”), Driven Brands Canada Funding Corporation (the “Canadian Co-Issuer” and together with the Issuer, the “Co-Issuers”), and Citibank, N.A., as trustee and securities intermediary (the “Trustee”), which (i) extends the deadline for the Managers to deliver the annual financial statements of the Company for the fiscal year ended December 27, 2025 (the “2025 Form 10-K”) to the Trustee, Midland Loan Services, a division of PNC Bank, National Association (the “Servicer”), FTI Consulting, Inc. (the “Back-Up Manager”), and the applicable ratings agencies (each a “Rating Agency”) to June 10, 2026
The company obtained a waiver from its debt indenture trustees extending the deadline to deliver its 2025 annual financial statements (Form 10-K) to June 10, 2026. This indicates the company is experiencing delays in completing its annual financial reporting, which is typically due within 60-90 days of fiscal year-end. The company expects to file by the extended deadline.
Added in current filing · verify on EDGAR →
(iii) extends the deadline for the Co-Issuers to furnish, or cause the applicable Manager to furnish, to the Trustee, the Servicer, the Back-Up Manager (to the extent such report is not being provided by the Back-Up Manager), and each Rating Agency the reports of the independent auditors or the Back-Up Manager required to be delivered to such Co-Issuer by the applicable Manager until the date that is 30 days after the latest delivery date of the annual financial statements of the Company, the Co-Issuers, and the U.S. Manager for the fiscal year ended December 27, 2025 (the “Co-Issuer Reports”)
The waiver extends the deadline for delivering independent auditor reports and back-up manager reports to 30 days after the annual financial statements are delivered. This suggests the audit process itself may be delayed or incomplete, requiring additional time beyond the financial statement preparation.
Event · Item 9.01 — Financial Statements and Exhibits
Driven Brands filed an 8-K disclosing a WBS Waiver dated April 22, 2026, with no additional details provided in the filing body.
Added in current filing · view on EDGAR →
99.1 WBS Waiver dated April 22, 2026
The company disclosed a waiver agreement labeled 'WBS Waiver' dated April 22, 2026. The 8-K body provides no context about what WBS refers to, what terms were waived, or why the waiver was necessary. Investors would need to review Exhibit 99.1 to understand the nature and materiality of this waiver.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify