[Form 4] Dave Inc. Warrants Insider Trading Activity

Rhea-AI Filing Summary

Kyle Beilman, who is listed as CFO, COO and Secretary of Dave Inc. (ticker DAVE), reported sales of Class A common stock on 09/04/2025 to satisfy tax obligations tied to vesting restricted stock units (RSUs). The filing shows 3,571 shares sold across multiple transactions (3,548; 21; 2) at weighted-average prices around $199.42 to $201.95, with the filer reporting a weighted-average price range of $199.41 to $200.12 for the RSU-related sales. Following the transactions the reporting person's beneficial ownership is reported as 224,074, 224,053 and 224,051 shares on the respective lines. The sale was executed to cover tax liabilities arising from the settlement of vested RSUs, and the form was signed by an attorney-in-fact on behalf of Mr. Beilman.

Positive

• Proper disclosure of insider transactions, including share counts and weighted-average price range, supports transparency
• Sale explicitly tied to satisfying tax obligations from RSU vesting, indicating a compensation-related disposition rather than speculative trading

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider sale to cover RSU tax obligations; consistent with standard equity compensation practice and properly disclosed.

The transaction appears to be a tax-withholding sale following RSU vesting, a common practice for executives receiving equity compensation. The filing discloses precise share counts and price ranges and includes an undertaking to provide detailed price breakdowns on request, which supports transparency. There is no indication in the form of accelerated selling beyond the amounts needed to satisfy tax obligations, and the remaining beneficial ownership remains substantial.

Securities Analyst

TL;DR: Small, routine insider disposition; unlikely to be material to overall cap table or valuation.

The reported sale of 3,571 Class A shares at roughly $199–$202 per share represents a modest absolute value relative to most public company free floats. The disclosure lists weighted-average pricing and the filer’s willingness to provide per-trade details, which is helpful for auditability. From a market-impact perspective, these transactions are routine and tied to compensation mechanics rather than signal-driven trading.

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).

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)

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)
09/04/2025

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	09/04/2025		S(1)		3,548	D	$199.42(2)	224,074	D
Class A Common Stock	09/04/2025		S(1)		21	D	$200.52	224,053	D
Class A Common Stock	09/04/2025		S(1)		2	D	$201.95	224,051	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. Shares of the Issuer's Class A Common Stock were sold to satisfy tax obligations relating to the acquisition of shares of the Issuer's Class A Common Stock in connection with the settlement of the vested portion of RSUs.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.41 to $200.12, 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	09/05/2025
	** 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 insider sold shares according to the Form 4?

The reporting person is Kyle Beilman, listed as CFO, COO and Secretary of Dave Inc.

How many shares were sold on 09/04/2025?

3,571 shares of Class A common stock were sold (3,548; 21; and 2 in three reported transactions).

Why were the shares sold in this Form 4 filing?

The shares were sold to satisfy tax obligations arising from the settlement of vested restricted stock units (RSUs).

What prices were reported for the sales?

The filing reports transactions at prices ranging from $199.41 to $201.95, with a weighted-average range cited of $199.41 to $200.12.

How many shares does the reporting person beneficially own after the sales?

The Form 4 lists beneficial ownership following the reported transactions as 224,074, 224,053, and 224,051 shares on the respective lines.