Dave Inc. CFO sells 10,459 Class A shares under 10b5-1 plan

Rhea-AI Filing Summary

Kyle Beilman, CFO/COO/Secretary of Dave Inc. (DAVE), reported sales of Class A common stock under a pre-established trading plan. On 09/12/2025 he sold 9,319 shares at a weighted average price of $230.02 and on 09/15/2025 he sold 1,140 shares at $230.00, reducing his reported direct holdings from 214,732 shares to 213,592 shares.

The filing notes the sales were executed pursuant to a Rule 10b5-1 plan adopted June 4, 2025, and the weighted average price for the 09/12/2025 sale reflects multiple executions between $230.00 and $230.45. The form is signed by an attorney-in-fact on behalf of Mr. Beilman.

Positive

• Sales executed under a Rule 10b5-1 trading plan, indicating preplanned transactions rather than opportunistic timing
• Filing includes weighted-average price and offers to disclose per-trade prices on request, supporting transparency
• Complete reporting of officer role and updated beneficial ownership counts

Negative

• None.

Insights

Securities Analyst

TL;DR: Insider sold 10,459 Class A shares via a 10b5-1 plan, a routine disclosure that modestly reduces holdings.

The transactions consist solely of open-market sales under a Rule 10b5-1 trading plan adopted June 4, 2025, with total shares sold of 10,459 at prices around $230. The filing shows reported direct holdings declining from 214,732 to 213,592 shares, indicating these were modest sales relative to disclosed holdings. No derivative activity or other changes in beneficial ownership are reported. For investors, this is a standard insider liquidity event documented under compliance procedures; the filing contains no statements of new agreements or compensatory grants.

Corporate Governance Expert

TL;DR: Proper disclosure of 10b5-1 plan sales and weighted-average pricing demonstrates compliance with insider-trading rules.

The Form 4 clearly identifies the reporting person, officer roles, transaction dates, quantities, prices, and the existence and adoption date of the 10b5-1 plan, satisfying key disclosure requirements. The explanatory note commits to provide per-trade price details on request, which enhances transparency. There are no indications of unusual timing or undisclosed related-party arrangements within this filing.

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^*

Beilman Kyle

(Last) (First) (Middle)

C/O DAVE INC.

1265 SOUTH COCHRAN AVENUE

(Street)

LOS ANGELES CA 90019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Dave Inc./DE [ DAVE ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO and COO and Secretary

3. Date of Earliest Transaction (Month/Day/Year)
09/12/2025

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
Class A Common Stock	09/12/2025		S(1)		9,319	D	$230.02(2)	214,732	D
Class A Common Stock	09/15/2025		S(1)		1,140	D	$230	213,592	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 sales reported in this row were executed pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 4, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $230.00 to $230.45, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

	/s/ Joan Aristei as Attorney-in-Fact for Kyle Beilman	09/16/2025
	** 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

What shares did Kyle Beilman sell according to the Form 4 for DAVE?

The Form 4 reports sales of 9,319 shares on 09/12/2025 and 1,140 shares on 09/15/2025 of Class A common stock.

At what price were the DAVE shares sold in the reported transactions?

The 09/12/2025 sale had a weighted average price of $230.02 (individual trades ranged $230.00–$230.45) and the 09/15/2025 sale was at $230.00.

Were the sales by Kyle Beilman part of a Rule 10b5-1 plan?

Yes. The filing states the sales were executed pursuant to a Rule 10b5-1 trading plan adopted June 4, 2025.

How did these transactions change Beilman's reported holdings of DAVE stock?

Reported direct holdings decreased from 214,732 shares following the 09/12 sale to 213,592 shares after the 09/15 sale.

Who signed the Form 4 filing for Kyle Beilman?

The Form 4 was signed by Joan Aristei as Attorney-in-Fact for Kyle Beilman on 09/16/2025.