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

Rhea-AI Filing Summary

Form 4 insider filing – Dave & Buster's Entertainment, Inc. (PLAY)

Senior Vice President & Chief Procurement Officer Les Lehner reported the acquisition of 12,226 shares of PLAY common stock on 06/18/2025. The transaction is coded “A” and priced at $0, indicating a share grant or award rather than an open-market purchase. After the grant, Lehner directly holds 40,496 shares. No sales, derivative transactions, or indirect holdings were disclosed.

The filing was signed by attorney-in-fact Sherri M. Smith on 06/23/2025. No additional explanatory footnotes were provided.

Positive

• Officer acquired 12,226 shares (coded “A”) and boosted direct holdings to 40,496, indicating continued insider ownership and alignment with shareholders.

Negative

• None.

Insights

Securities Analyst

TL;DR: Small insider grant aligns executive interests; immaterial to valuation, overall neutral impact.

The 12,226-share grant increases Les Lehner’s direct ownership to 40,496 shares, modestly strengthening management–shareholder alignment. Because the award carries a stated price of $0 and represents a minor fraction of Dave & Buster’s total shares outstanding, the market impact is expected to be negligible. No sales were reported, so the transaction does not signal insider pessimism. Absent price, vesting terms, or performance hurdles, investors should view the event as routine executive compensation rather than a catalyst.

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)
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		12,226	A	$0	40,496	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 insider activity was reported for PLAY on 06/18/2025?

Les Lehner acquired 12,226 PLAY common shares, coded as an acquisition (grant).

How many Dave & Buster's shares does Les Lehner own after the transaction?

Following the grant, his direct ownership is 40,496 shares.

Was the insider transaction a purchase or a sale?

It was an acquisition (no shares were sold).

What price was paid for the 12,226 PLAY shares?

The stated transaction price was $0, suggesting a stock grant or award.

When was the Form 4 signed and filed?

The form was signed by attorney-in-fact Sherri M. Smith on 06/23/2025.

What is Les Lehner’s position at Dave & Buster's?

He is the company’s Senior Vice President & Chief Procurement Officer.