[Form 4] Dave & Buster's Entertainment, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Paramount Global (PARAA/ PARA) – SEC Form 4 insider filing

Director Shari Redstone reported the award of 16,340 Restricted Share Units (RSUs) linked to Class B common stock on 2 July 2025. The grant was made at $0.0000 under the company’s outside-director equity plan.

Vesting will occur on the earlier of (i) the company’s 2026 Annual Meeting of Stockholders or (ii) 2 July 2026. On vesting, an equivalent number of Class B shares will be delivered unless the director elects to defer receipt.

• Security acquired: Restricted Share Units convertible into Class B shares
• Units granted: 16,340
• Transaction code: A (award)
• Price per unit: $0
• Post-transaction beneficial ownership: 16,340 units/shares held directly

No shares were sold or disposed of, and no other derivative transactions were reported. The filing represents a routine annual equity grant for board compensation rather than an active purchase or sale.

Positive

• 16,340 RSUs awarded, increasing insider ownership and aligning director incentives.
• No shares sold, eliminating any immediate perception of insider pessimism.

Negative

• None.

Insights

Securities Analyst

TL;DR: Routine RSU grant; no buying or selling, negligible share-price impact.

The Form 4 shows only an automatic board compensation award—16,340 RSUs to Director Shari Redstone at zero cost. Because the units vest in 2026 and there were no dispositions, the transaction does not alter market float or signal management sentiment beyond standard governance practices. Consequently, the filing should be viewed as operationally neutral for investors.

Corporate Governance Expert

TL;DR: Standard outside-director equity issuance; governance-aligned, but strategically neutral.

The equity grant adheres to Paramount’s director compensation plan, reinforcing alignment without introducing dilution (shares already reserved). No 10b5-1 plan was cited, and the direct holding structure maintains transparency. From a governance standpoint, this is a routine, compliant disclosure with no red flags and limited strategic consequence.

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

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X

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^*

Mulleady John

(Last) (First) (Middle)

1221 S. BELT LINE RD., SUITE 500

(Street)

COPPELL TX 75019

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Dave & Buster's Entertainment, Inc. [ PLAY ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Former Chief Dev Ofc

3. Date of Earliest Transaction (Month/Day/Year)
04/18/2025

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
Common Stock	04/18/2025		A		3,645(1)	A	$0	61,158	D
Common Stock	04/18/2025		F		1,661(2)	D	$19.46	59,497	D
Common Stock	04/18/2025		A		1,324(3)	A	$0	60,821	D
Common Stock	04/18/2025		F		604(4)	D	$19.46	60,217	D
Common Stock	06/27/2025		A		2,873(5)	A	$0	63,090	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
Stock Option (Right to Buy)	$33.02	06/18/2025(6)		A		7,571		(6)	12/20/2034	Common Stock	7,571	$0	7,571	D
Stock Option (Right to Buy)	$30.45	06/27/2025		A		2,873		(7)	06/27/2035	Common Stock	2,873	$0	2,873	D

Explanation of Responses:

1. Represents shares of common stock delivered upon the vesting of performance-based restricted stock units ("PSUs") that were initially granted to the reporting person on April 18, 2022. The PSUs vested in a single lump-sum based on the satisfaction by Dave & Buster's Entertainment, Inc. (the "Issuer") of certain performance criteria for a three-year performance period.

2. Represents shares of common stock of the Issuer withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of 3,645 PSUs granted to the reporting person on April 18, 2022. No shares were issued or sold in this transaction. The per-share value assigned to the shares withheld reflects the closing price per share on the next trading day following the date on which the PSUs vested as reported on The Nasdaq Global Select Market.

3. Represents shares of common stock delivered upon the vesting of PSUs that were initially granted to the reporting person on April 18, 2022. The PSUs vested in a single lump-sum based on the Issuer's satisfaction of certain performance criteria for a three-year performance period.

4. Represents shares of common stock of the Issuer withheld by the Issuer to satisfy tax withholding obligations in connection with the vesting of 1,324 PSUs granted to the reporting person on April 18, 2022. No shares were issued or sold in this transaction. The per-share value assigned to the shares withheld reflects the closing price per share on the next trading day following the date on which the PSUs vested as reported on The Nasdaq Global Select Market.

5. Represents a grant of restricted stock units that will vest in three equal annual installments on each of April 24, 2026, 2027 and 2028.

6. Represents a contingent stock option granted to the reporting person on December 20, 2024 that was subject to shareholder approval of the Dave & Buster's Entertainment, Inc. 2025 Omnibus Incentive Plan at the Issuer's annual meeting of shareholders held on June 18, 2025. The shares underlying this stock option will vest and become exercisable in three equal installments on each of December 20, 2025, 2026 and 2027, as long as the reporting person is providing services to the Issuer on such dates.

7. The shares underlying this stock option will vest and become exercisable in three equal installments on each of April 24, 2026, 2027 and 2028, as long as the reporting person is providing services to the Issuer on such dates.

	/s/ Sherri M. Smith, Attorney-in-Fact	07/07/2025
	** 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.
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FAQ

How many Restricted Share Units did Shari Redstone receive from Paramount Global (PARAA)?

She received 16,340 RSUs on 2 July 2025.

What class of stock underlies the RSUs granted to Shari Redstone?

The RSUs convert into Class B common stock of Paramount Global.

When will the RSUs granted to Shari Redstone vest?

They vest on the earlier of the 2026 Annual Meeting or 2 July 2026.

Did Shari Redstone sell any Paramount Global shares in this Form 4 filing?

No. The filing only reports an equity award; there were no disposals.

What is Shari Redstone’s ownership form after the RSU grant?

All 16,340 units/shares are held directly in her name.