Dave director sells 300,000 warrants at $1.98

A Dave Inc. director reported selling 300,000 trust-held warrants, retaining 109,985 warrants afterward.

Rhea-AI Filing Summary

Dave Inc. (DAVE) director Brendan Carroll reported an indirect sale of 300,000 warrants on September 4, 2026. The warrants, held by a trust, were sold at a weighted average price of $1.98 per warrant, in multiple trades between $1.87 and $2.04, leaving 109,985 warrants indirectly held after the transaction. Each warrant is exercisable at $368.00 for Class A Common Stock and expires January 5, 2027.

Insider Trade Summary

Net Seller: 300,000 shares

Net Sell 1 txn

Insider Carroll Brendan

Role Director

Sold 300,000 shs ($594K)

Type	Security	Shares	Price	Value
Sale	Warrant (Right to Buy) F1, F2	300,000	$1.98	$594K

Holdings After Transaction: Warrant (Right to Buy) — 109,985 contracts (Indirect, By Trust)

Footnotes (2)

1. F1. Represents warrants previously acquired in a pro-rata, in-kind distribution by an LLC to its investors, which was exempt from reporting pursuant to Rule 16a-9 under the Securities Exchange Act of 1934, as amended.
2. F2. The price reported in Column 8 is a weighted average price. These warrants were sold in multiple transactions at prices ranging from $1.87 to $2.04, 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 warrants sold at each separate price within the range set forth in this Form 4.

Key Figures

Warrants sold: 300,000 warrants Weighted average sale price: $1.98 per warrant Sale price range: $1.87–$2.04 per warrant +5 more

8 metrics

Warrants sold 300,000 warrants Derivative sale reported for September 4, 2026

Weighted average sale price $1.98 per warrant Aggregate price for the 300,000 warrants sold

Sale price range $1.87–$2.04 per warrant Range of prices for multiple warrant sale transactions

Warrants held after transaction 109,985 warrants Indirect holdings by trust following the sale

Warrant exercise price $368.00 per share Price to exercise each warrant into Class A Common Stock

Underlying shares per warrant block 9,375 shares of Class A Common Stock Underlying security shares tied to the reported warrants

Warrant exercise date March 4, 2022 Date from which the warrants became exercisable

Warrant expiration date January 5, 2027 Stated expiration for the reported warrants

Key Terms

weighted average price, in-kind distribution, Rule 16a-9, warrants, +1 more

5 terms

weighted average price financial

"The price reported in Column 8 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

in-kind distribution financial

"Represents warrants previously acquired in a pro-rata, in-kind distribution"

A distribution of value to shareholders or beneficiaries made by transferring assets instead of paying cash, such as shares, bonds, or property. Like receiving a box of goods rather than money, it changes what you hold rather than adding liquid funds; investors care because it affects a portfolio’s composition, liquidity, tax reporting, and cost basis for the received assets.

Rule 16a-9 regulatory

"which was exempt from reporting pursuant to Rule 16a-9 under the Securities"

warrants financial

"Represents warrants previously acquired in a pro-rata, in-kind distribution"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

Class A Common Stock financial

"underlying_security_title: Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did DAVE report in this Form 4?

The filing reports that director Brendan Carroll indirectly sold 300,000 warrants on September 4, 2026, through a trust, in a single reported transaction classified as a sale of a derivative security.

At what prices were the DAVE warrants sold in this transaction?

The warrants were sold at a weighted average price of $1.98 per warrant. According to the filing, the individual trades occurred at prices ranging from $1.87 to $2.04 per warrant, inclusive.

How many DAVE warrants does the reporting person hold after this sale?

After the reported sale, the filing shows 109,985 warrants remain indirectly held by the reporting person through a trust. This figure reflects the position following the September 4, 2026 transaction.

What are the key terms of the DAVE warrants involved in this Form 4?

Each reported warrant represents a right to buy Class A Common Stock, with an exercise price of $368.00 per share. The warrants became exercisable on March 4, 2022 and have an expiration date of January 5, 2027.

Were the DAVE warrant sales made under a Rule 10b5-1 trading plan?

The filing does not indicate use of a Rule 10b5-1 trading plan. The document-level checkbox for such a plan is not marked as affirmative, and no footnote states that the transactions were made under a pre-arranged trading plan.

How were the DAVE warrants originally acquired according to the Form 4 footnotes?

A footnote states that the warrants were previously acquired in a pro-rata, in-kind distribution by an LLC to its investors, which the filing describes as exempt from reporting under Rule 16a-9 of the Securities Exchange Act of 1934.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/09/2026 - 06:00 PM Accepted by SEC EDGAR 09/09/2026 - 06:00 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Carroll Brendan

(Last) (First) (Middle)

1265 SOUTH COCHRAN AVE

(Street)

LOS ANGELES CALIFORNIA 90019

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2026

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

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

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

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

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
Warrant (Right to Buy)	$368	09/04/2026		S			300,000(1)	03/04/2022	01/05/2027	Class A Common Stock	9,375	$1.98(2)	109,985(1)	I	By Trust

Explanation of Responses:

1. Represents warrants previously acquired in a pro-rata, in-kind distribution by an LLC to its investors, which was exempt from reporting pursuant to Rule 16a-9 under the Securities Exchange Act of 1934, as amended.

2. The price reported in Column 8 is a weighted average price. These warrants were sold in multiple transactions at prices ranging from $1.87 to $2.04, 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 warrants sold at each separate price within the range set forth in this Form 4.

	/s/ Joan Aristei as Attorney-in-Fact for Brendan Carroll	09/09/2026
	** 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.
* Form 4: SEC 1474 (03-26)