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Wilk Jason reported acquisition or exercise transactions in this Form 4 filing.
Dave Inc./DE Chief Executive Officer Jason Wilk reported equity compensation grants of Class A Common Stock, totaling 104,641 shares, on March 9, 2026. These were reported at a price of $0.0000 per share, reflecting stock-based awards rather than open-market purchases.
The awards include 13,767 restricted stock units under the Amended and Restated 2021 Equity Incentive Plan, scheduled to vest 1/8 on June 1, 2026 and 1/16 on each quarterly anniversary thereafter, subject to continued service. Performance-based restricted stock units earned for the period from January 1, 2025 to December 31, 2025 from two prior PSU awards (72,539 and 18,335 shares) will vest on June 1, 2027 and June 1, 2028, respectively, if he remains in service. Following these grants, Wilk directly holds 308,424 shares, with an additional 47,882 shares held indirectly by a trust.
Dave Inc. closed a private offering of $200 million 0% Convertible Senior Notes due 2031 to qualified institutional buyers under Rule 144A. Net proceeds were about $192.1 million.
The company spent $17.3 million on capped call transactions covering about 0.7 million shares and used about $70.5 million to repurchase roughly 0.3 million shares at $210.67 each. The notes mature on April 1, 2031, carry a 0% coupon, and are initially convertible at 3.5825 shares per $1,000 principal, equivalent to about $279.13 per share, with a maximum initial conversion rate of 4.7467 shares per $1,000 (up to 949,340 shares). The capped calls are designed to limit dilution or higher cash payments above the conversion price up to an initial cap of $421.34 per share.
Dave Inc. director Andrea Mitchell reported selling a total of 30,000 shares of Class A Common Stock in open-market transactions. The sales took place on March 5 and 6, 2026 under a pre-arranged Rule 10b5-1 trading plan adopted on November 30, 2025. Footnotes state the reported prices are weighted averages for multiple trades, with sale prices ranging from $204.34 to $223.22 per share.
Dave Inc. Chief Executive Officer Jason Wilk reported a tax-related share disposition connected to restricted stock unit vesting. On March 4, 2026, 6,678 shares of Dave Inc. Class A common stock were withheld by the company at a value of $210.67 per share to cover tax obligations upon RSU vesting, rather than being sold in the open market.
After this withholding, Wilk directly owned 203,783 shares of Class A common stock and indirectly held an additional 47,882 shares through a trust. The filing reflects administrative equity compensation and tax treatment, not a discretionary market transaction.
Dave Inc. is raising capital through a private offering of $175 million aggregate principal amount of 0% Convertible Senior Notes due 2031, with an additional $25 million option for the initial purchasers. The notes are being sold to qualified institutional buyers under Rule 144A and are senior unsecured obligations.
Dave estimates net proceeds of about $168.0 million, which it plans to use to fund roughly $15.1 million of capped call transactions, repurchase approximately 334,000 shares of common stock for about $70.5 million, and for general corporate purposes including further share repurchases. The notes carry an initial conversion rate of 3.5825 shares per $1,000 (about $279.13 per share), a 32.5% premium to the $210.67 stock price on March 4, 2026, and are supported by capped calls initially capped at $421.34 per share.
Dave Inc. plans a private offering of $150 million principal amount of Convertible Senior Notes due 2031, with an option for initial purchasers to buy an additional $22.5 million of notes. The notes are senior unsecured, pay interest semi-annually, and mature on April 1, 2031, unless earlier converted, redeemed or repurchased.
The notes may be converted into cash and, at Dave’s election, cash, Class A common stock or a combination for any amount above principal. Dave intends to use net proceeds to fund capped call transactions, repurchase common stock and for general corporate purposes, including further buybacks. Dave also plans capped call hedging with financial institutions and expects to repurchase shares concurrently with pricing, which could influence the trading price of its stock and the notes.
Dave Inc. reported very strong fourth quarter and full-year 2025 results, highlighted by rapid growth and rising profitability. Q4 revenue rose 62% year-over-year to $163.7 million, while Q4 net income jumped 292% to $66.0 million and adjusted EBITDA reached $72.9 million, up 118%.
For full-year 2025, revenue grew 60% to $554.2 million, net income increased 238% to $195.9 million, and adjusted EBITDA climbed 162% to $226.7 million, with non-GAAP gross profit margin improving to 72%. Management issued 2026 guidance for revenue of $690–$710 million, implying 25–28% growth, and adjusted EBITDA of $290–$305 million.
The board authorized a new share repurchase program of up to $300 million of Class A common stock, replacing a prior $125 million authorization that had about $113.2 million remaining. Dave also amended employment agreements for CEO Jason Wilk and CFO/COO Kyle Beilman, enhancing performance-based equity treatment on certain terminations and change-in-control events, and raising Mr. Beilman’s base salary and incentive targets.
Dave Inc. provides an in-depth annual overview of its neobank business, strategy, and regulatory environment for the year ended December 31, 2025. The company operates a mobile-first platform focused on Americans living paycheck to paycheck, offering ExtraCash advances, fee-free checking, and financial tools.
Since launch, over 19 million people have signed up, with more than 14 million using at least one product, and Members have received over $22 billion in ExtraCash, which offers up to $500 of short-term credit with no interest or late fees. In 2025 Dave shifted ExtraCash to a mandatory 5% service fee structure and raised its monthly membership fee from $1 to $3 for new Members to improve unit economics.
Dave highlights its AI-powered underwriting engine CashAI, updated to version 5.5 in 2025 to improve risk ranking and approval amounts, and embeds AI in fraud detection and support via DaveGPT. The company is transitioning its banking relationships so new Members are onboarded to Coastal Community Bank, supported by lower processing fees under an amended Galileo agreement. Dave also details its virtual-first workforce of about 280 employees, extensive U.S. regulatory obligations, and a broad risk-factor set tied to credit performance, technology, competition, bank-partner dependence, and evolving consumer-protection and data-privacy rules.
Dave Inc. director Nima Khajehnouri filed an initial ownership report on Form 3. This filing establishes him as a reporting insider of the company but does not list any stock transactions, share acquisitions, or dispositions. It is an administrative disclosure rather than a trading event.