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

Rhea-AI Filing Summary

Kevin M. Sheehan, a director of Dave & Buster's Entertainment, Inc. (ticker: PLAY), reported equity transactions dated 08/15/2025. He received 26,710 shares of common stock as an immediately vested discretionary bonus for his service as Interim Chief Executive Officer; those shares were granted at a reported price of $0. On the same date he disposed of 10,511 shares at $18.72 per share. After these transactions, the filing shows Mr. Sheehan beneficially owned 81,955 shares directly and 69,025 shares indirectly through a Family Owned LLC. The Form 4 was signed by an attorney-in-fact, Sherri M. Smith, on 08/18/2025.

Positive

• 26,710 shares were granted as an immediately vested discretionary bonus, aligning the Interim CEO with shareholders
• Filing discloses both direct and indirect holdings clearly: 81,955 direct and 69,025 indirect shares

Negative

• Reported disposition of 10,511 shares at $18.72 reduced the reporting person's direct holdings

Insights

Financial Analyst

TL;DR: Insider received vested compensation shares while selling a portion of holdings; net direct holdings decreased modestly.

The award of 26,710 immediately vested shares as compensation for service as Interim CEO increases insider alignment with shareholders without a cash cost to the company at grant (reported price $0). The concurrent sale of 10,511 shares at $18.72 reduced Mr. Sheehan's direct stake, leaving 81,955 direct shares and 69,025 indirect shares. For investors, this is a mixed operational signal: compensation via equity can align incentives, while sales may reflect routine liquidity needs rather than a view on company fundamentals; the filing provides no commentary beyond transaction details.

Corporate Governance Expert

TL;DR: Equity bonus awarded for Interim CEO service and an unrelated open-market disposition were reported; governance disclosure appears routine.

The Form 4 documents a discretionary, immediately vested equity award tied to executive service and a contemporaneous disposition. The award is disclosed as compensation for Interim CEO duties, satisfying Section 16 reporting. The signature by an attorney-in-fact is properly noted. There is no indication of a Rule 10b5-1 plan or other pre-arranged trading plan in the filing, and no other governance concerns are raised by the provided text.

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^*

SHEEHAN KEVIN M

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		A		26,710(1)	A	$0	92,466	D
Common Stock	08/15/2025		F		10,511	D	$18.72	81,955	D
Common Stock								69,025	I	Family Owned LLC

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. Represents an award of immediately vested shares of common stock granted to the reporting person as a discretionary bonus as compensation for the reporting person's service as Interim Chief Executive Officer.

	Sherri M. Smith, Attorney-in-Fact	08/18/2025
	** 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

What transactions did Kevin M. Sheehan report for PLAY on 08/15/2025?

He was granted 26,710 shares as an immediately vested discretionary bonus and disposed of 10,511 shares at $18.72 per share.

Why were the 26,710 shares awarded to Kevin M. Sheehan?

The filing states the shares were granted as a discretionary bonus as compensation for his service as Interim Chief Executive Officer.

What are Kevin M. Sheehan's beneficial ownership totals after the reported transactions?

The Form 4 shows 81,955 shares beneficially owned directly and 69,025 shares beneficially owned indirectly through a Family Owned LLC.

Who signed the Form 4 and when was it signed?

The Form 4 was signed by attorney-in-fact Sherri M. Smith on 08/18/2025.

Does the filing indicate the sale was made under a 10b5-1 trading plan?

The filing does not indicate a Rule 10b5-1 trading plan or reference a pre-arranged plan for the sale.