[144] Dave Inc./DE SEC Filing

Rhea-AI Filing Summary

Form 144 notice from the holder of DAVE common stock proposes to sell 50,000 shares through Morgan Stanley Smith Barney LLC on the NASDAQ. The filing shows the shares were acquired in a private transaction from the issuer on 08/09/2023 and were paid for in cash. The proposed sale has an aggregate market value of $11,471,000 and the issuer reports 12,084,643 shares outstanding, with an approximate sale date listed as 09/15/2025. The filer certified no undisclosed material adverse information and indicated no securities of the issuer were sold by the account in the past three months.

Positive

• Full Rule 144 disclosure provided with acquisition details, broker, proposed sale date, and outstanding shares
• Securities were paid in cash at acquisition (08/09/2023), simplifying provenance of the position
• Brokerage route documented: Morgan Stanley Smith Barney LLC named as the executing broker

Negative

• High aggregate sale value of $11,471,000 may be material to some stakeholders given its dollar size
• No trading-plan date is indicated, so the sale appears to be a proposed open-market disposition rather than a 10b5-1 plan

Insights

Securities Analyst

TL;DR: Insider plans to sell 50,000 DAVE shares (proposed value $11.47M) via a major broker; disclosure is routine but material in dollar terms.

The filing documents a proposed sale of 50,000 common shares through Morgan Stanley Smith Barney on NASDAQ with an aggregate market value of $11,471,000. The shares were acquired in a private transaction and paid in cash on 08/09/2023. For investors, the key facts are the size of the position being offered and that no other sales by the account were reported in the past three months. This is a standard Rule 144 notification providing required transparency for an officer/director/affiliate or other covered person preparing to sell restricted or control securities.

Compliance/Risk Analyst

TL;DR: Filing meets Rule 144 disclosure elements; signer attests no undisclosed material adverse information.

The form includes required acquisition details (private transaction, cash payment), broker information, number of shares outstanding, and an attestation regarding material disclosures. The presence of a major brokerage firm and the explicit representation about material information align with standard compliance expectations. The document does not report any sales in the prior three months, and no trading plan date is provided on the form.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	50000	11471000.00	12084643	09/15/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/09/2023	Private Transaction	Issuer			50000	08/09/2023	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the DAVE Form 144 disclose about the proposed sale?

The filer proposes to sell 50,000 common shares of DAVE via Morgan Stanley Smith Barney on NASDAQ, with an aggregate market value of $11,471,000 and an approximate sale date of 09/15/2025.

When and how were the shares being sold acquired?

The shares were acquired on 08/09/2023 in a private transaction from the issuer and were paid for in cash on that date.

Does the filing report recent sales of DAVE shares by the same account?

No. The filing states "Nothing to Report" for securities sold during the past three months by the account.

What compliance representation does the filer make in the Form 144?

The filer represents they do not know any material adverse information about the issuer that has not been publicly disclosed and signs the notice under that attestation.

Through which broker is the proposed sale to be executed?

Morgan Stanley Smith Barney LLC, Executive Financial Services, New York is named as the broker in the filing.