Dave & Buster's (PLAY) interim CFO reports stock, options and PSU performance targets
Rhea-AI Filing Summary
Dave & Buster's Entertainment, Inc. officer Cory Hatton, Interim CFO, filed an initial statement of beneficial ownership. He reports direct ownership of 49,714 shares of Common Stock. He also reports multiple stock options on Common Stock, including one covering 17,621 shares at $22.70 per share expiring on October 7, 2035, and several additional options with later vesting and expirations.
Hatton further reports several blocks of performance stock units (PSUs) tied to future company performance. Footnotes state that certain PSUs depend on adjusted EBITDA growth targets, a $600M fiscal 2027 EBITDA goal, and average same store sales growth of at least 3% over specified multi-year periods, as well as positive same store sales for fiscal 2026.
Positive
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Insider Trade Summary
18 transactions reported
Mixed
18 txns
Insider
Hatton Cory
Role
Interim CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Performance Stock Unit F1 | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Performance Stock Unit F1 | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Performance Stock Unit F2 | -- | -- | -- |
| holding | Performance Stock Unit F2 | -- | -- | -- |
| holding | Performance Stock Unit F3 | -- | -- | -- |
| holding | Performance Stock Unit F3 | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Performance Stock Unit F4 | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 57,325 shares (Direct);
Performance Stock Unit — 31,151 shares (Direct);
Common Stock — 49,714 shares (Direct)
Footnotes (4)
- F1. This grant will be earned based on a three-year performance against a Board-established adjusted EBITDA target growth.
- F2. This grant will be earned based on achievement of the following performance conditions over the three-year period commencing as of the beginning of the third quarter of fiscal 2025: (a) achievement of minimum fiscal year 2027 EBITDA of $600M, and (b) average same store sales growth in each one-year measurement period of at least 3% compared to the same periods in the prior year.
- F3. This grant will vest upon the achievement of the following performance condition: average same store sales growth of 3% or greater for 4 consecutive quarters in the prior year, with the measurement period commencing as of the beginning at the third quarter of fiscal 2025. If the performance condition is not achieved, these PSUs will be forfeited. Upon satisfaction of the performance condition, the PSUs will vest ratably in equal annual installments over two years.
- F4. Represents the Target Achievable performance-based restricted stock units ("PSUs") in respect of the one-fiscal year performance period commencing on the first day of fiscal 2026 and ending on the last day of fiscal 2026. 100% of the RSUs shall be deemed earned upon the attainment of positive Same Store Sales during the Performance Period.
Key Figures
Direct common shares: 49,714 shares
Largest option block: 17,621 shares at $22.7000
Option exercise price example: $12.3300 per share
+4 more
7 metrics
Direct common shares
49,714 shares
Directly held Common Stock reported by Interim CFO Cory Hatton
Largest option block
17,621 shares at $22.7000
Stock Option (Right to Buy) on Common Stock expiring 2035-10-07
Option exercise price example
$12.3300 per share
Stock Option (Right to Buy) on 3,265 underlying Common shares expiring 2036-04-24
High exercise price option
$53.3300 per share
Stock Option (Right to Buy) on 501 underlying Common shares expiring 2034-04-24
EBITDA performance target
$600M
Minimum fiscal year 2027 EBITDA required for certain PSUs to be earned
Same store sales growth threshold
3%
Average same store sales growth required in specified one-year periods for PSU performance conditions
PSU performance period
One fiscal year (fiscal 2026)
Positive Same Store Sales required during the fiscal 2026 performance period for certain PSUs
Key Terms
Performance Stock Unit, adjusted EBITDA, Same Store Sales, restricted stock units ("PSUs")
4 terms
Performance Stock Unit financial
"The security title includes "Performance Stock Unit" tied to Common Stock"
A performance stock unit is a type of reward companies give to employees, usually managers, that depends on how well the company performs over time. If the company hits specific goals, the employee earns shares of stock, like earning a prize for reaching certain levels in a game. It motivates employees to work hard because their rewards are tied to the company's success.
adjusted EBITDA financial
"Earned based on a three-year performance against a Board-established adjusted EBITDA target growth"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Same Store Sales financial
"Average same store sales growth of 3% or greater for 4 consecutive quarters"
Same store sales measure the change in revenue generated by stores that have been open for at least a year, comparing current sales to past periods. It helps investors see how well a business is growing from its existing locations, without the influence of new store openings or closures. This metric provides a clearer picture of ongoing performance and customer demand.
restricted stock units ("PSUs") financial
"Represents the Target Achievable performance-based restricted stock units ("PSUs")"
FAQ
What did Cory Hatton report in his Form 3 for PLAY?
Cory Hatton, Interim CFO of Dave & Buster's (PLAY), reported direct ownership of 49,714 common shares plus multiple stock options and performance stock units (PSUs) on Common Stock, all detailed with specific strike prices, expirations, and performance conditions.
What stock options did the interim CFO report in PLAY’s Form 3?
The interim CFO reported several stock options on PLAY common stock, including an option for 17,621 shares at $22.70 per share expiring October 7, 2035, plus other options with exercise prices such as $12.33, $30.45, $33.02, $34.05, $37.04 and $53.33.
What performance targets apply to Cory Hatton’s PSUs in PLAY?
Some PSUs are earned based on adjusted EBITDA growth, including a requirement for $600M fiscal 2027 EBITDA and average same store sales growth of at least 3% in each one-year measurement period within a three-year window starting at the beginning of fiscal 2025’s third quarter.
How are same store sales used in PLAY interim CFO’s PSU awards?
Several PSU awards reference same store sales. One requires average same store sales growth of 3% or greater for four consecutive quarters; another deems PSUs earned if positive Same Store Sales are achieved over a one-fiscal-year performance period in fiscal 2026.
Over what periods are PLAY’s PSU performance conditions measured for the interim CFO?
PSU conditions are measured over different periods, including a three-year period starting at the beginning of fiscal 2025’s third quarter, a three-year period tied to fiscal 2027 EBITDA and same store sales growth, and a one-year fiscal 2026 performance period.
AI-generated analysis. How Rhea-AI works. Not financial advice.
