Dave & Buster's COO Boosts Stake with 19.7k-Share Equity Grant

Rhea-AI Filing Summary

Dave & Buster's Entertainment, Inc. (PLAY) – Form 4 insider filing: SVP & Chief Operating Officer Tony Wehner reported the acquisition of 19,708 shares of common stock on 06/18/2025 at a transaction price of $0, indicating an equity award rather than an open-market purchase. Following the grant, Wehner directly owns 51,743 PLAY shares. No derivative securities were involved, and there were no dispositions reported. The filing increases executive equity alignment but does not represent a cash-backed purchase.

Positive

• SVP & COO Tony Wehner acquired 19,708 shares, increasing direct ownership to 51,743 shares.

Negative

• The shares were granted at $0, indicating no open-market purchase and therefore a weaker bullish signal.

Insights

Financial Analyst

TL;DR: Routine stock grant lifts COO ownership to 51.7k shares; limited market signal.

The reported Form 4 shows Tony Wehner receiving 19,708 PLAY shares at $0, typical of annual or performance-based equity awards. His direct stake now represents a modest but growing alignment with shareholders. Because there is no cash outlay and the shares were not bought in the open market, the informational content for price discovery is limited. Still, continued accumulation by senior leadership can be viewed as incrementally positive for governance and incentives, particularly if grants are performance-conditioned.

Corporate Governance Expert

TL;DR: Equity award enhances management–shareholder alignment; standard practice.

From a governance standpoint, the filing reflects routine compensation policy: equity grants to senior executives to drive long-term value creation. The award boosts Wehner’s direct holdings to 51,743 shares, which may strengthen retention and performance incentives. However, because the acquisition was cost-free, it carries less signaling power than an open-market purchase would. No red flags or unusual features appear in the disclosure, suggesting the event is not materially impactful for investors.

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^*

Wehner Tony

(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)
	SVP, Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2025

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	06/18/2025		A		19,708	A	$0	51,743	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:

	Sherri M. Smith, Attorney-in-Fact	06/23/2025
	** 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 did the PLAY Form 4 filed on 06/23/2025 disclose?

SVP & COO Tony Wehner received 19,708 common shares on 06/18/2025 and now owns 51,743 shares.

Was cash paid for the 19,708 PLAY shares acquired by Tony Wehner?

No. The Form 4 lists the transaction price as $0, implying an equity award.

How many Dave & Buster's shares does Tony Wehner now hold?

After the transaction, his direct beneficial ownership stands at 51,743 shares.

Did the filing include any derivative securities or option exercises?

No derivative securities were reported in Table II.

Why might a $0 transaction still be important to investors?

Even cost-free grants increase insider ownership, aligning management incentives with shareholder value.