[Form 4] The Chef's Warehouse Inc Insider Trading Activity

Rhea-AI Filing Summary

Key Takeaways

Dave Inc. (NASDAQ: DAVE) filed a Form 4 indicating that Chief Financial Officer, Chief Operating Officer and Secretary Kyle Beilman received 3,240 Class A common shares on 14 July 2025 through a restricted stock unit (RSU) grant under the Amended and Restated 2021 Equity Incentive Plan. The RSUs were granted at $0 cost to the executive and will vest 1/16 on 1 September 2025 with the remaining shares vesting in equal quarterly instalments thereafter, conditional upon continued service.

Following the award, Beilman’s direct beneficial ownership increases to 227,622 Class A shares. No shares were sold, and no derivative securities were exercised or disposed of in this filing.

The transaction is primarily a routine equity incentive intended to align management and shareholder interests; it does not materially change the company’s capital structure or near-term financial outlook.

Positive

• Enhanced management alignment: Executive ownership rises to 227,622 shares, reinforcing long-term incentive structure.

Negative

• None.

Insights

Securities Analyst

TL;DR Routine RSU grant; modest size; neutral impact on valuation but supports management–shareholder alignment.

The Form 4 reveals a 3,240-share RSU grant to CFO/COO Kyle Beilman. With a post-transaction holding of 227,622 shares, the award is small relative to Dave Inc.’s outstanding share count and does not signal insider buying or selling pressure. Because the RSUs vest over four years, the grant encourages executive retention and long-term focus. However, the issuance is immaterial to float dilution or earnings per share. Overall impact on valuation, liquidity and governance is neutral.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

McCauley Tim

(Last) (First) (Middle)

100 EAST RIDGE ROAD

(Street)

RIDGEFIELD CT 06877

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Chefs' Warehouse, Inc. [ CHEF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/14/2025		S(1)		12,500	D	$65.01(2)	57,050(4)	D
Common Stock	07/14/2025		S(1)		5,000	D	$65.21(3)	52,050	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The sale of shares was executed pursuant to a 10b5-1 plan put in place by the Reporting Person on March 13, 2025.

2. Represents the weighted average sale price of the shares sold ranging from a low of $64.29 to a high of $65.21 per share. The Reporting Person undertakes, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer, to provide full information regarding the number of shares sold at each separate price.

3. Represents the weighted average sale price of the shares sold ranging from a low of $64.86 to a high of $65.56 per share. The Reporting Person undertakes, upon request by the staff of the Securities and Exchange Commission, the Issuer or a security holder of the Issuer, to provide full information regarding the number of shares sold at each separate price.

4. Includes shares of the Issuer's common stock purchased pursuant to The Chefs' Warehouse, Inc. Employee Stock Purchase Plan.

	/s/ Alexandros Aldous, Attorney-in-Fact for Tim McCauley	07/15/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Dave Inc. (DAVE) shares did the CFO receive in this Form 4?

The filing reports a grant of 3,240 Class A common shares to CFO/COO Kyle Beilman.

What is the vesting schedule for the 3,240 RSUs awarded to Kyle Beilman?

The RSUs vest 1/16 on 1 September 2025 and 1/16 on each quarterly anniversary thereafter, contingent on continued service.

What is the CFO’s total direct ownership after this insider transaction?

Following the grant, Beilman directly owns 227,622 Class A shares of Dave Inc.

Did the Form 4 include any stock sales or option exercises?

No. The filing only shows an award of RSUs; there were no sales, disposals, or derivative transactions.

Why is this Form 4 filing important for Dave Inc. investors?

It highlights ongoing executive retention incentives and shows that management continues to hold a meaningful equity position, though the grant size is not material to share count.