Dave CFO enters $10.8M forward deal on shares

Dave Inc.’s CFO, COO and Secretary entered a variable prepaid forward on 40,000 shares, receiving $10.8 million upfront with settlement tied to Dave’s future share price.

Rhea-AI Filing Summary

Dave Inc./DE (symbol: DAVE) is the issuer of record for a Form 4 filing submitted to the SEC. Beilman Kyle reported acquisition or exercise transactions in this Form 4 filing.

Dave Inc./DE (DAVE) discloses that its CFO, COO and Secretary, Kyle Beilman, entered into a variable prepaid forward contract on September 11, 2026 with an unaffiliated counterparty involving 40,000 shares of Dave Class A Common Stock. Beilman pledged these shares as collateral, received an upfront cash payment of $10.8 million, and will retain voting, dividend and other rights in the pledged shares until settlement, which is expected on or about June 15, 2028. Depending on the share price at that time, he may deliver a variable number of shares or elect, subject to conditions, to settle the contract in cash.

Insider Trade Summary

Other: 40,000 shares

Other 1 txn

Insider Beilman Kyle

Role CFO and COO and Secretary

Type	Security	Shares	Price	Value
Other	Variable Prepaid Forward Contract (obligation to sell) F1, F2, F3	40,000	--	--

Holdings After Transaction: Variable Prepaid Forward Contract (obligation to sell) — 40,000 contracts (Direct)

Footnotes (3)

1. F1. On September 11, 2026, the Reporting Person entered into a variable prepaid forward contract with an unaffiliated counterparty. The contract obligates the Reporting Person to deliver shares of Dave Inc. (the "Issuer") Class A Common Stock or, at the Reporting Person's election subject to certain conditions, settle the contract in cash, on a settlement date on or about June 15, 2028 (the "Maturity Date"). In exchange, the Reporting Person will receive an upfront cash payment of $10.8 million. The Reporting Person pledged 40,000 shares of the Issuer's Class A Common Stock (the "Subject Shares") to secure his obligations under the contract. The Reporting Person will retain all voting, dividend and other rights in the Subject Shares during the term of the pledge.
2. F2. If the Reporting Person does not elect to settle the contract in cash, the number of shares of the Issuer's Class A Common Stock that may be delivered by the Reporting Person following the Maturity Date will generally be determined as follows: (a) if the closing price of shares of the Issuer's Class A Common Stock prior to the Maturity Date (the "Settlement Price") is less than $490.46 (the "Maximum Price") but greater than $297.78 (the "Minimum Price"), the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Subject Shares multiplied by a ratio equal to the Minimum Price divided by the Settlement Price;
3. F3. [Continued from footnote 2] (b) if the Settlement Price is equal to or greater than the Maximum Price as of the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Subject Shares multiplied by a ratio equal to a fraction with a numerator equal to the sum of (A) the Minimum Price and (B) the excess, if any, of the Settlement Price over the Maximum Price, and a denominator equal to the Settlement Price; and (c) if the Settlement Price is equal to or less than the Minimum Price as of the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Subject Shares.

Key Figures

Shares subject to variable prepaid forward: 40,000 shares Upfront cash payment: $10.8 million Minimum Price: $297.78 +2 more

5 metrics

Shares subject to variable prepaid forward 40,000 shares Shares of Dave Inc. Class A Common Stock pledged as Subject Shares

Upfront cash payment $10.8 million Cash received by reporting person upon entering contract on September 11, 2026

Minimum Price $297.78 Threshold used in share-delivery formula if Settlement Price is at or below this level

Maximum Price $490.46 Threshold used in share-delivery formula if Settlement Price is at or above this level

Maturity Date June 15, 2028 Settlement date on or about which the contract is expected to be settled

Key Terms

variable prepaid forward contract, Settlement Price, Maximum Price, Minimum Price

4 terms

variable prepaid forward contract financial

"entered into a variable prepaid forward contract with an unaffiliated counterparty"

Settlement Price financial

"If the ... Settlement Price is less than $490.46 but greater than $297.78"

Maximum Price financial

"the Settlement Price is less than $490.46 (the "Maximum Price")"

Minimum Price financial

"but greater than $297.78 (the "Minimum Price")"

The minimum price is the lowest allowable or acceptable price at which a security, share offering, product, or sale can be bought or sold. Think of it like the smallest tag on a store item that the seller will accept; for investors it sets a floor for entry or sale, affects potential returns and liquidity, and can influence demand by limiting purchases below that level.

FAQ

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

What insider transaction did DAVE report for Kyle Beilman?

Kyle Beilman, DAVE’s CFO, COO and Secretary, entered a variable prepaid forward contract on 40,000 shares of Class A Common Stock on September 11, 2026, receiving an upfront cash payment and pledging the shares as collateral.

How much cash did the DAVE executive receive from the variable prepaid forward?

The executive received an upfront cash payment of $10.8 million in exchange for entering into the variable prepaid forward contract and pledging 40,000 Dave Inc. Class A Common shares as collateral.

When does the variable prepaid forward on DAVE shares mature?

The variable prepaid forward contract has a settlement date on or about June 15, 2028, referred to as the Maturity Date, when the executive will either deliver shares or, subject to conditions, elect to settle in cash.

What share price thresholds govern the DAVE variable prepaid forward settlement?

Settlement depends on a Minimum Price of $297.78 and a Maximum Price of $490.46. The number of shares delivered after the Maturity Date varies based on how the Settlement Price compares to these thresholds.

Does the DAVE executive keep voting and dividend rights on the pledged shares?

Yes. The filing states the reporting person will retain all voting, dividend and other rights in the 40,000 pledged shares of Dave Inc. Class A Common Stock during the term of the pledge.

Was the DAVE insider transaction made under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked as affirming a trading plan, and the footnotes do not state that the variable prepaid forward was entered into pursuant to a Rule 10b5-1 plan.

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

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Available on EDGAR 09/15/2026 - 04:58 PM Accepted by SEC EDGAR 09/15/2026 - 04:58 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^*

Beilman Kyle

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/11/2026

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
Variable Prepaid Forward Contract (obligation to sell)	(1)(2)(3)	09/11/2026		J/K		40,000		(1)(2)(3)	(1)(2)(3)	Class A Common Stock	40,000	(1)(2)(3)	40,000	D

Explanation of Responses:

1. On September 11, 2026, the Reporting Person entered into a variable prepaid forward contract with an unaffiliated counterparty. The contract obligates the Reporting Person to deliver shares of Dave Inc. (the "Issuer") Class A Common Stock or, at the Reporting Person's election subject to certain conditions, settle the contract in cash, on a settlement date on or about June 15, 2028 (the "Maturity Date"). In exchange, the Reporting Person will receive an upfront cash payment of $10.8 million. The Reporting Person pledged 40,000 shares of the Issuer's Class A Common Stock (the "Subject Shares") to secure his obligations under the contract. The Reporting Person will retain all voting, dividend and other rights in the Subject Shares during the term of the pledge.

2. If the Reporting Person does not elect to settle the contract in cash, the number of shares of the Issuer's Class A Common Stock that may be delivered by the Reporting Person following the Maturity Date will generally be determined as follows: (a) if the closing price of shares of the Issuer's Class A Common Stock prior to the Maturity Date (the "Settlement Price") is less than $490.46 (the "Maximum Price") but greater than $297.78 (the "Minimum Price"), the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Subject Shares multiplied by a ratio equal to the Minimum Price divided by the Settlement Price;

3. [Continued from footnote 2] (b) if the Settlement Price is equal to or greater than the Maximum Price as of the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Subject Shares multiplied by a ratio equal to a fraction with a numerator equal to the sum of (A) the Minimum Price and (B) the excess, if any, of the Settlement Price over the Maximum Price, and a denominator equal to the Settlement Price; and (c) if the Settlement Price is equal to or less than the Minimum Price as of the Maturity Date, the Reporting Person will deliver a number of shares of the Issuer's Class A Common Stock equal to the Subject Shares.

	/s/ Joan Aristei as Attorney-in-Fact for Kyle Beilman	09/15/2026
	** 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)