Dave & Buster's (PLAY) SVP CIO reports RSU grants, PSU cancellations and options

Rhea-AI Filing Summary

Dave & Buster's Entertainment, Inc. SVP & CIO Steve Klohn reported multiple equity compensation updates. On March 25, 2026, he received 11,785 shares of Common Stock as restricted stock units under the 2025 Omnibus Incentive Plan, which vest in three equal annual installments on July 14, 2026, 2027 and 2028.

The filing also reflects earlier activity on October 7, 2025, including the cancellation of 21,598 and 26,998 performance-based restricted stock units granted in 2022 and new stock option grants covering 11,013, 41,794 and 28,271 shares at exercise prices of $22.70 and $34.05, subject to time- and stock price-based vesting conditions. An additional 11,013 restricted stock units granted on that date will vest on June 7, 2026. Following these updates, Klohn directly owns 45,536 Common Stock shares. All transactions are compensation-related awards or cancellations, with no open-market buying or selling.

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

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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^*

Klohn Steve

(Last) (First) (Middle)

1221 S. BELT LINE RD., SUITE 500

(Street)

COPPELL TEXAS 75019

(City) (State) (Zip)

UNITED STATES

(Country)

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 Information Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	10/07/2025		A		11,013(1)	A	$0	33,751(2)	D
Common Stock	03/25/2026		A		11,785(3)	A	$0	45,536	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
Performance Stock Unit	(4)	10/07/2025(4)		D			21,598	(4)	(4)	Common Stock	21,598	$0	0	D
Performance Stock Unit	(4)	10/07/2025(4)		D			26,998	(4)	(4)	Common Stock	26,998	$0	0	D
Stock Option (Right to Buy)	$22.7	10/07/2025(5)		A		11,013		(5)	10/07/2035	Common Stock	11,013	$0	11,013	D
Stock Option (Right to Buy)	$22.7	10/07/2025(6)		A		41,794		(6)	10/07/2035	Common Stock	41,794	$0	41,794	D
Stock Option (Right to Buy)	$34.05	10/07/2025(7)		A		28,271		(7)	10/07/2035	Common Stock	28,271	$0	28,271	D

Explanation of Responses:

1. Represents restricted stock units granted to the reporting person under the Dave & Buster's Entertainment, Inc. 2025 Omnibus Incentive Plan (the "Plan"). The restricted stock units will vest in three equal annual installments on each of July 14, 2026, 2027 and 2028.

2. This Form 4 includes the corrected ownership total in Table I, Column 5. The Form 4s filed by the reporting person on December 23, 2025 and January 23, 2026 understated the ownership total in Table I, Column 5 by 11,013 shares due to an administrative error failing to account for the grant of the restricted stock units described further in Note (1).

3. Represents restricted stock units granted to the reporting person under the Plan. The restricted stock units will vest on June 7, 2026.

4. Represents the cancellation of the performance-based restricted stock units subject to stock price-based vesting conditions previously granted to the reporting person on October 7, 2022.

5. Represents stock options granted to the reporting person under the Plan. The shares underlying these stock options will vest and become exercisable in three equal annual installments on each of July 14, 2026, 2027 and 2028.

6. Represents stock options granted to the reporting person under the Plan. The stock options will become earned upon the first date (the "2X Attainment Date") occurring before February 1, 2028 on which the 60-day trailing volume weighted average closing price ("VWAP") of the shares of common stock, $0.01 par value per share (the "Common Stock"), of Dave & Buster's Entertainment, Inc. (the "Issuer") is greater than or equal to $64.12. After the 2X Attainment Date, the shares underlying these stock options will vest and become exercisable on either the first or the second anniversary of the 2X Attainment Date depending on the Issuer's 60-day trailing VWAP on the first anniversary of the 2X Attainment Date.

7. Represents stock options granted to the reporting person under the Plan. The stock options will become earned upon the first date (the "3X Attainment Date") occurring before February 1, 2028 on which the 60-day trailing VWAP of the Common Stock is greater than or equal to $96.18. After the 3X Attainment Date, the shares underlying these stock options will vest and become exercisable on either the first or the second anniversary of the 3X Attainment Date depending on the Issuer's 60-day trailing VWAP on the first anniversary of the 3X Attainment Date.

	Sherri M. Smith, Attorney-in-Fact	03/27/2026
	** 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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* Form 4: SEC 1474 (03-26)

FAQ

What equity award did PLAY executive Steve Klohn receive on March 25, 2026?

On March 25, 2026, Steve Klohn received 11,785 restricted stock units of Dave & Buster's common stock. These units vest in three equal annual installments on July 14, 2026, 2027 and 2028 under the company’s 2025 Omnibus Incentive Plan.

How many Dave & Buster's (PLAY) shares does Steve Klohn hold after these Form 4 transactions?

After the reported transactions, Steve Klohn directly holds 45,536 shares of Dave & Buster’s common stock. This total reflects a correction for a prior administrative error that had understated his ownership by 11,013 restricted stock units granted earlier.

What happened to Steve Klohn’s performance-based restricted stock units at Dave & Buster's?

Two blocks of performance-based restricted stock units totaling 21,598 and 26,998 units were canceled. These units were originally granted on October 7, 2022 and were subject to stock price-based vesting conditions that are no longer in effect.

What stock options were granted to Steve Klohn under PLAY’s 2025 Omnibus Incentive Plan?

Steve Klohn received stock options for 11,013 and 41,794 shares at a $22.70 exercise price, and 28,271 shares at $34.05. These options vest over time and, for certain tranches, depend on the company’s 60-day trailing volume-weighted average stock price.

Were Steve Klohn’s Form 4 transactions in PLAY open-market purchases or sales?

The reported transactions are equity compensation-related grants, cancellations, and stock options, not open-market purchases or sales. Codes show awards (A) and dispositions to the issuer (D), indicating compensation adjustments rather than trading in the public market.

What correction does this Form 4 make to Steve Klohn’s prior PLAY share ownership?

This Form 4 corrects the ownership total in Table I, Column 5 by adding 11,013 shares. Earlier Form 4 filings in December 2025 and January 2026 had understated his holdings because they omitted a restricted stock unit grant referenced in the current footnotes.