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

Rhea-AI Filing Summary

Qualys, Inc. (QLYS) Form 4: Chief Financial Officer Joo Mi Kim disclosed the sale of 787 common shares on 07 July 2025 via a pre-arranged Rule 10b5-1 trading plan adopted on 21 Aug 2024.

The sales were executed in four tranches between $146.85 – $150.35 per share, producing a volume-weighted average price range of roughly $147.19-$149.50. After the transactions, the CFO still beneficially owns 99,288 shares, indicating that less than 1 % of her total stake was divested.

No derivative transactions were reported, and there is no indication of additional insider participants. Given the modest size of the sale, the continuation of substantial insider ownership, and the existence of a 10b5-1 plan, the filing is viewed as routine with limited market impact.

Positive

• Sale executed under Rule 10b5-1 plan, reducing the likelihood of informational signaling.
• CFO retains approximately 99,288 shares, demonstrating continued meaningful ownership alignment with shareholders.

Negative

• Insider sale by the CFO—even if small—can be viewed cautiously by some investors.

Insights

Equity Analyst

TL;DR: Routine 10b5-1 sale of 787 shares (<1 %) by QLYS CFO; maintains ~99k shares, signalling limited insider bearishness.

The transaction equates to roughly $116k in gross proceeds, assuming the midpoint of reported prices. Importantly, Kim retains a stake worth about $14.9 million (at $150/share), underscoring continuing alignment with shareholders. Because the sale is governed by a pre-scheduled 10b5-1 plan and represents a de-minimis portion of holdings, we see no material read-through for near-term fundamentals or sentiment. Insider activity remains generally neutral for valuation.

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^*

Lehner Les

(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 Procurement 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		2,010(1)	A	$0	42,506	D
Common Stock	04/18/2025		F		615(2)	D	$19.46	41,891	D
Common Stock	04/18/2025		A		730(3)	A	$0	42,621	D
Common Stock	04/18/2025		F		224(4)	D	$19.46	42,397	D
Common Stock	06/27/2025		A		1,983(5)	A	$0	44,380	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		6,056		(6)	12/20/2034	Common Stock	6,056	$0	6,056	D
Stock Option (Right to Buy)	$30.45	06/27/2025		A		1,983		(7)	06/27/2035	Common Stock	1,983	$0	1,983	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 June 29, 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 2,010 PSUs granted to the reporting person on June 29, 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 June 29, 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 730 PSUs granted to the reporting person on June 29, 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 Qualys (QLYS) shares did the CFO sell?

Joo Mi Kim sold 787 common shares on 07 Jul 2025.

What prices were the QLYS shares sold at?

Weighted average prices ranged from $146.85 to $150.35 per share.

Does the CFO still own Qualys stock after the sale?

Yes. She continues to own 99,288 shares directly.

Was the sale part of a pre-arranged plan?

Yes. The transactions were executed under a Rule 10b5-1 plan adopted on 21 Aug 2024.

Is this insider transaction material to investors?

Given the small volume (<1 % of holdings) and plan-based nature, the impact is considered neutral.