Dave & Buster's SVP trims stake, keeps 42.5k shares after $195k sale

Rhea-AI Filing Summary

Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) – Form 4 snapshot

Senior Vice President, Real Estate & Development John Mulleady reported an open-market sale (transaction code “S”) of 5,931 common shares on 06/17/2025 at a weighted-average price of $32.787. The trades occurred within a narrow range of $32.785 – $32.79, as detailed in Footnote 1. The filing was submitted on 06/18/2025.

After the sale, the executive’s direct beneficial ownership stands at 42,550 shares. No derivative transactions or additional equity movements were disclosed in the filing. The form does not indicate that the sale was executed under a Rule 10b5-1 trading plan.

While insider sales can occasionally signal shifting sentiment, the transaction value (≈ $195k) and the officer’s remaining stake suggest only a modest portfolio repositioning rather than a material change in commitment to the company.

Positive

• Officer retains 42,550 shares, demonstrating continued equity alignment with shareholders.
• Transaction value is modest relative to company size, implying minimal dilution or market impact.

Negative

• Insider sale may raise minor concerns about executive confidence despite limited scale.
• No indication that the sale was executed under a Rule 10b5-1 trading plan, leaving motives open to interpretation.

Insights

Financial Analyst

TL;DR: Modest insider sale; limited financial impact on PLAY.

The disposal of 5,931 shares (~$0.2 million) by SVP John Mulleady is relatively small against Dave & Buster’s ≈$1 billion market cap. The officer still holds 42,550 shares, signalling continued alignment with shareholders. No derivatives were exercised or created, and the narrow price band shows ordinary liquidity rather than strategic timing. The filing does not reference a 10b5-1 plan, so investors may view it as discretionary selling, but the scale is unlikely to influence valuation or institutional sentiment.

Corporate Governance Expert

TL;DR: Routine governance disclosure; neutral signal for stewardship.

From a governance lens, the Form 4 is timely and complete, indicating effective compliance with Section 16 reporting. The insider remains a substantial shareholder, mitigating concerns of disengagement. Absence of derivative activity or aggressive liquidation reduces the risk of perceived opportunism. Overall, the event is routine and does not suggest governance red flags.

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).

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)
	SVP, RE & Dev

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2025

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	06/17/2025		S		5,931	D	$32.787(1)	42,550	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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $32.785 to $32.79, inclusive. The reporting person undertakes to provide to Dave & Buster's Entertainment, Inc., any security holder of Dave & Buster's Entertainment, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnote (1) to this Form 4.

	Sherri M. Smith, Attorney-in-Fact	06/18/2025
	** 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 did PLAY SVP John Mulleady sell on 06/17/2025?

5,931 common shares were sold.

What was the weighted-average price of the shares sold in the Form 4?

The weighted-average sale price was $32.787, with individual trades between $32.785 and $32.79.

How many Dave & Buster's (PLAY) shares does the executive own after the sale?

John Mulleady directly owns 42,550 shares following the transaction.

Which transaction code appears in the PLAY Form 4 dated 06/17/2025?

The filing lists transaction code “S”, indicating an open-market sale.

When was the Form 4 filed with the SEC?

The Form 4 was filed on 06/18/2025.