[144] Dave Inc./DE SEC Filing

Rhea-AI Filing Summary

Dave Inc. (DAVE) filed a Form 144 reporting a proposed sale of 50,000 shares of Common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of $11,471,000.00 and an approximate sale date of 09/15/2025 on NASDAQ. The filing shows the shares were acquired on 08/09/2023 in a private transaction from the issuer, paid in cash.

The filer certifies no undisclosed material adverse information and indicates no securities of the issuer were sold by the account in the past three months. Contact and some filer identification fields in the form are present but not populated in the provided content.

Positive

• Full disclosure of proposed sale under Rule 144 including broker, share count, aggregate value, and approximate sale date
• Acquisition details provided: shows shares were acquired in a private transaction from the issuer and paid in cash on 08/09/2023
• Filer representation that no material nonpublic information is known, aligning with regulatory expectations

Negative

• Material size of proposed sale: 50,000 shares with aggregate value of $11,471,000 could be meaningful to the market absent context on float and daily volume
• Missing seller identification and plan details: the filing excerpt lacks explicit identification of the seller's role and any Rule 10b5-1 plan adoption date, limiting investor assessment
• Contact and filer ID fields not populated in the provided content, reducing transparency for follow-up

Insights

Securities Analyst

TL;DR: A sizable proposed sale of 50,000 shares (~$11.5M) is disclosed; market impact depends on the seller's ownership and timing.

The filing transparently reports a proposed Rule 144 sale through a major broker and documents acquisition via a private transaction from the issuer on 08/09/2023 with cash payment. The disclosed aggregate market value of $11,471,000 is material in absolute terms and may be meaningful relative to typical daily trading volume; the filing does not state the seller's remaining ownership stake or motivations, which limits assessment of dilution or signaling.

Corporate Governance Expert

TL;DR: The Form 144 meets disclosure requirements but lacks detail on insider status and plan adoption, constraining governance interpretation.

The notice includes the required representation that no material nonpublic information is known and references Rule 10b5-1 planning language, but no plan adoption date is provided in the supplied content. Without explicit identification of the seller's role (e.g., officer, director, large shareholder) or trading-plan details, investors cannot fully evaluate governance implications or whether the sale follows a prearranged plan.

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 Form 144 filed by DAVE disclose?

The form reports a proposed sale of 50,000 common shares via Morgan Stanley Smith Barney with aggregate market value of $11,471,000 and an approximate sale date of 09/15/2025.

When and how were the shares to be sold in the DAVE Form 144 acquired?

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

Does the Form 144 state if the seller had material nonpublic information?

The filer represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.

Does the filing indicate prior sales in the past three months for the seller?

The form indicates Nothing to Report for securities sold during the past three months by the person for whose account the securities are to be sold.

Through which broker is the proposed sale to be executed?

The proposed sale is to be executed through Morgan Stanley Smith Barney LLC, Executive Financial Services, New York, NY.