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.
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Form Type
4
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)
- 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.
- 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.
