Dave Director's $1.5M Stock Sale: What Investors Should Know About Planned Exit

Rhea-AI Filing Summary

Director Michael W. Pope of Dave executed multiple sales transactions of Class A Common Stock on June 23, 2025, conducted through a pre-established Rule 10b5-1 trading plan from March 11, 2025.

Key transaction details:

• Total shares sold: 1,793 shares across 8 separate transactions
• Price range: $201.92 to $214.24 per share
• Remaining holdings: 6,375 shares held directly after all transactions

The sales were executed at progressively higher prices throughout the day, suggesting strong market demand. The transactions were made pursuant to a planned trading schedule, demonstrating compliance with insider trading regulations. This systematic selling pattern indicates a predetermined strategy for portfolio management rather than a reaction to specific company events.

Positive

• The insider sales were executed according to a pre-planned Rule 10b5-1 trading plan established on March 11, 2025, indicating compliance with insider trading regulations
• The stock price showed strong performance with sales executed at escalating prices ranging from $201.92 to $214.24 per share

Negative

• Director Michael W. Pope sold a total of 1,793 shares of Class A Common Stock in multiple transactions
• The insider's holdings decreased from 8,106 to 6,375 shares, representing a significant 21.4% reduction in their direct ownership position

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).

X

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^*

POPE MICHAEL W

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
06/23/2025

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	06/23/2025		S(1)		62	D	$201.92	8,106	D
Class A Common Stock	06/23/2025		S(1)		62	D	$203.86(2)	8,044	D
Class A Common Stock	06/23/2025		S(1)		62	D	$205.15	7,982	D
Class A Common Stock	06/23/2025		S(1)		667	D	$207.27(3)	7,315	D
Class A Common Stock	06/23/2025		S(1)		62	D	$210(4)	7,253	D
Class A Common Stock	06/23/2025		S(1)		124	D	$211.65(5)	7,129	D
Class A Common Stock	06/23/2025		S(1)		620	D	$213.09(6)	6,509	D
Class A Common Stock	06/23/2025		S(1)		134	D	$214.24(7)	6,375	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. The sales reported on this Form 4 were executed pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 11, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $203.85 to $203.87, 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.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $206.78 to $207.32, inclusive.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $209.99 to $210.02, inclusive.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $211.62 to $211.67, inclusive.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $212.65 to $213.57, inclusive.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $213.90 to $214.63, inclusive.

	/s/ Joan Aristei, as Attorney-in-Fact for Michael W. Pope	06/24/2025
	** 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

How many shares of Dave Inc. (DAVEW) did Director Michael Pope sell on June 23, 2025?

Director Michael Pope sold a total of 1,793 shares of Dave Inc. Class A Common Stock on June 23, 2025, through multiple transactions at different price points ranging from $201.92 to $214.24 per share.

What was the price range of DAVEW shares sold by Michael Pope in the June 23, 2025 transactions?

The shares were sold in multiple transactions with prices ranging from $201.92 at the lowest to $214.24 at the highest. The largest block of 667 shares was sold at a weighted average price of $207.27.

How many Dave Inc. (DAVEW) shares does Michael Pope own after the reported transactions?

Following the reported transactions on June 23, 2025, Michael Pope beneficially owns 6,375 shares of Dave Inc. Class A Common Stock held directly (D).

Was Michael Pope's DAVEW stock sale part of a pre-planned trading arrangement?

Yes, the sales were executed pursuant to a Rule 10b5-1 trading plan that Michael Pope adopted on March 11, 2025, which allows for pre-planned trades to avoid insider trading concerns.