Mo Khalid
Driven Brands HoldingsAbout Mo Khalid
Mo Khalid, age 44, is Driven Brands’ Executive Vice President and Chief Operating Officer, appointed effective August 25, 2025; he previously served as EVP and President of Take 5 since February 2023, having rejoined Driven Brands after serving as SVP, Field Operations at Great Wolf Resorts (2017–2023), and earlier as Vice President and COO of Meineke (2016–2017) . He holds an MBA from Columbia Business School and a BS in Finance from Rutgers University . Under his leadership, Take 5 grew to more than 1,200 locations with trailing twelve-month system-wide sales exceeding $1.5 billion as of June 28, 2025, while management lauded his analytical and operational rigor in segment profitability . Company-level FY2024 performance was revenue +2% YoY and adjusted EBITDA +7% YoY, metrics central to executive incentive designs .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Driven Brands – Take 5 | EVP & President, Take 5 | Feb 2023–Aug 2025 | Grew footprint to >1,200 locations and TTM system-wide sales >$1.5B; strengthened operations and team capabilities |
| Driven Brands | Executive Vice President & Chief Operating Officer | Aug 25, 2025–present | Charged with driving operational rigor, data-driven decisions, and margin expansion across brands |
| Driven Brands – Meineke | Vice President & Chief Operating Officer | Mar 2016–Nov 2017 | Operations leadership in Maintenance segment brands |
| Great Wolf Resorts | Senior Vice President, Field Operations | Nov 2017–Feb 2023 | Led field operations across resort network |
External Roles
- No public company directorships or external board roles disclosed in filings for Khalid .
Fixed Compensation
| Component | Value | Notes |
|---|---|---|
| Annual Base Salary | $575,000 | Set upon appointment as COO effective Aug 25, 2025 |
| Target Annual Bonus (% of salary) | 100% | Annual performance-based cash bonus eligibility |
| Target Annual Equity (% of salary) | 250% | RSUs and PSUs under the Amended & Restated 2021 Omnibus Incentive Plan |
Performance Compensation
Annual Bonus Program (Company design; applicable to executive officers)
| Metric | Weight | Threshold | Target | Payout Mechanics | 2024 Outcome |
|---|---|---|---|---|---|
| Adjusted EBITDA | 75% | 97% of target | 100% of target | Threshold pays 50% of target; total ABP capped at target | Between threshold and target; drove approx. 75% payout for applicable executives |
| Revenue | 10% | 95% of target | 100% of target | Threshold pays 50% of target; cap at target | Exceeded target; payout capped at target |
| Same-Store Sales | 15% | 50% of target | 100% of target | Threshold pays 50% of target; cap at target | Between threshold and target |
Notes:
- Company did not disclose specific numerical targets; targets meet or exceed public guidance; mid-2024 adjustments tightened threshold criteria and capped payouts at target to preserve pay-for-performance .
Long-Term Incentives (PSUs/RSUs design)
| Vehicle | Weight of LTI | Vesting | Performance Metric | Target/Scale |
|---|---|---|---|---|
| PSUs | 67% of LTI value | Cliff at end of 3-year period (FY2024–FY2026) | 60% Cumulative Adjusted EBITDA | 50% payout at 90% of target; 100% at 100%; 200% at 110% |
| PSUs | 67% of LTI value | Cliff at end of 3-year period (FY2024–FY2026) | 40% Relative TSR vs S&P MidCap 400 constituents | 50% payout at 25th percentile; 100% at 50th; 200% at 75th |
| RSUs | 33% of LTI value | Ratably over three years | Time-based retention and alignment | Value driven by stock price performance |
Illustrative context: 2022 PSU cohort earned an aggregate 39% of target after Committee adjustments for strategic transactions; EBITDA achieved 93% of target, TSR below threshold (0% TSR portion) .
Equity Ownership & Alignment
As of August 25, 2025 (Form 3 filing upon appointment as COO):
| Security | Amount Beneficially Owned | Ownership Form |
|---|---|---|
| Common Stock | 25,804 | Direct |
| Common Stock | 2,481 | Direct (footnote indicates RSUs; vesting per award terms) |
| Common Stock | 56,818 | Direct (footnote indicates RSUs; vesting per award terms) |
| Common Stock | 13,827 | Direct (footnote indicates RSUs; vesting per award terms) |
| Common Stock | 19,237 | Direct (footnote indicates RSUs; vesting per award terms) |
| Common Stock | 58,945 | Direct (footnote indicates RSUs; vesting per award terms) |
- Total beneficially owned (sum of above): 177,112 shares .
- Ownership as % of shares outstanding: approximately 0.11% (177,112 ÷ 164,200,841 shares outstanding as of March 21, 2025) .
- Hedging/pledging: Company policy prohibits hedging and pledging for directors, officers, employees, and immediate family/household; thus such activity is prohibited for Khalid .
- Stock ownership guidelines: CEO 6× salary; other NEOs 3× salary; guidelines apply to NEOs and unvested time-based equity counts toward compliance; executive-specific compliance status for Khalid is not disclosed .
- Insider plans/transactions: No Rule 10b5-1 plan or Form 4 transactions for Khalid were identified in filings reviewed; company disclosed a 10b5-1 plan adoption for another executive in Q3 2025 (not Khalid) .
Historical baseline:
- Upon rejoining DRVN in Feb 2023 as EVP, Segment President – Maintenance, Khalid filed Form 3 indicating no securities beneficially owned at that time .
Employment Terms
- Role and appointment: Elected EVP & COO effective August 25, 2025 .
- Compensation: Base salary $575,000; target annual bonus 100% of salary; eligible for annual equity grants (RSUs and PSUs) targeted at 250% of salary under the Amended & Restated 2021 Omnibus Incentive Plan; equity grants subject to standard plan award agreements .
- Clawback policy: Nasdaq Rule 10D-1 compliant clawback applies to covered executives for three prior fiscal years in the event of material restatements; equity awards subject to cancellation for conduct adverse to company interests (e.g., fraud, covenant violations) .
- Trading policy: Prohibits hedging/derivatives, short sales, and pledging/margin purchases of company stock for directors, officers, employees, and immediate family/household .
Performance Compensation
| Element | Metric | Weighting | Targeting/Design | Vesting/Payout |
|---|---|---|---|---|
| Annual Bonus (COO eligibility) | Board-determined performance metrics | N/A (role-specific) | Target 100% of salary; company’s ABP typically uses Adjusted EBITDA, Revenue, SSS metrics and caps payouts at target | Annual cash; specific 2025 COO metrics not disclosed |
| PSUs | Cumulative Adjusted EBITDA | 60% of PSU | Threshold 90% (50% payout), target 100% (100% payout), max 110% (200% payout) | Cliff vest after 3-year performance period (FY2024–FY2026) |
| PSUs | Relative TSR vs S&P MidCap 400 | 40% of PSU | Threshold 25th percentile (50%), target 50th (100%), max 75th (200%) | Cliff vest after 3-year performance period (FY2024–FY2026) |
| RSUs | Time-based | 33% of LTI | Align and retain | Ratably over 3 years |
Investment Implications
- Pay-for-performance alignment: Khalid’s package is highly performance-levered—100% bonus target and 250% equity target with PSU metrics tied to cumulative Adjusted EBITDA and relative TSR, consistent with company’s focus on long-term value creation and margin discipline .
- Retention and selling pressure: RSU time-based vesting over three years and PSU cliff vesting promote retention; hedging/pledging prohibitions mitigate misalignment; absence of disclosed 10b5-1 plan and Form 4 sales reduces near-term forced-selling signal visibility, but additional Form 4 monitoring is warranted .
- Execution track record: Demonstrated operational scaling and profitability rigor at Take 5, with >1,200 locations and $1.5B TTM system-wide sales as of June 28, 2025; management commentary highlights effective labor, commodity cost, and pricing management—supportive of COO mandate to expand margins across brands .
- Benchmarking and governance: Compensation design mirrors peer-informed frameworks with EBITDA and TSR anchors; say-on-pay support of ~78% in 2024 indicates investor acceptance of program structure despite prior award modifications .
Monitoring priorities: Track Form 4 activity post-COO appointment; verify PSU certification outcomes relative to EBITDA and TSR; assess ABP metric selections for 2025 in light of strategic transactions and any cap adjustments; confirm any severance or change-in-control terms if later disclosed in 8-Ks or proxy supplements .