Form 4: Dave & Buster's SVP, Chief Legal Officer Receives Significant Equity Grants Following Plan Approval
Insider Transaction Report
Rodolfo Rodriguez Jr., SVP and Chief Legal Officer of Dave & Buster's Entertainment, Inc., was granted restricted stock units and stock options following shareholder approval of the 2025 Omnibus Incentive Plan.
Summary
- Rodolfo Rodriguez Jr., SVP, Chief Legal Officer of Dave & Buster's Entertainment, Inc. (PLAY), was granted 1,295 shares of common stock as restricted stock units (RSUs) on June 27, 2025, at a price of $0.
- These 1,295 RSUs will vest in three equal annual installments on April 24, 2026, 2027, and 2028.
- An additional 4,637 contingent stock options were granted on January 8, 2025, becoming effective on June 18, 2025, with an exercise price of $34.50 and an expiration date of January 8, 2035.
- These 4,637 stock options will vest in four equal annual installments on January 8, 2026, 2027, 2028, and 2029.
- Another 2,898 contingent stock options were granted on January 8, 2025, becoming effective on June 18, 2025, with an exercise price of $34.50 and an expiration date of January 8, 2035.
- These 2,898 stock options will vest in five equal annual installments on January 8, 2026, 2027, 2028, 2029, and 2030.
- A further 1,295 stock options were granted on June 27, 2025, with an exercise price of $30.45 and an expiration date of June 27, 2035.
- These 1,295 stock options will vest in three equal annual installments on April 24, 2026, 2027, and 2028.
- All contingent stock options were subject to shareholder approval of the Dave & Buster's Entertainment, Inc. 2025 Omnibus Incentive Plan, which occurred at the annual meeting on June 18, 2025.
- Following these transactions, Rodolfo Rodriguez Jr. beneficially owns 13,770 shares of common stock directly and 8,830 derivative securities (stock options) directly.
Sentiment
Score: 6
Explanation: The filing reports routine equity compensation grants to a senior executive, which aligns management incentives with shareholder interests, following shareholder approval of the incentive plan. This is a neutral to slightly positive event as it indicates ongoing executive retention and incentive alignment.
Positives
- The grant of restricted stock units and stock options to a senior executive aligns management's interests with those of shareholders, incentivizing long-term performance.
- Shareholder approval of the 2025 Omnibus Incentive Plan demonstrates investor confidence in the company's compensation strategy and governance.
Negatives
- None identified in the filing.
Risks
- Vesting of all equity awards (restricted stock units and stock options) is contingent upon the reporting person's continued service to Dave & Buster's Entertainment, Inc. on the respective vesting dates.
Future Outlook
The future outlook for the reporting person's equity compensation involves a multi-year vesting schedule for both restricted stock units and stock options, contingent on continued service to the company through April 2028 for RSUs and some options, and through January 2030 for other options.
Industry Context
This Form 4 filing details an individual insider transaction related to executive compensation and does not provide broader industry trends or competitive analysis. Such filings are routine disclosures for publicly traded companies regarding changes in beneficial ownership by officers, directors, and significant shareholders.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| SVP, Chief Legal Officer | NA | Rodolfo Rodriguez Jr. | NA | No change in personnel; the filing reports equity grants to an existing officer. |
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Plan Approval | Shareholder approval of the Dave & Buster's Entertainment, Inc. 2025 Omnibus Incentive Plan at the annual meeting on June 18, 2025, which enabled the grant of contingent stock options to the reporting person. | 2025-06-18 | This approval provides the framework for future equity-based compensation, aligning executive incentives with long-term company performance and shareholder value. |
Legal Proceedings
- None mentioned.
Related Party Transactions
- The equity grants to Rodolfo Rodriguez Jr., a senior officer, constitute related party transactions as part of his executive compensation package.
Stakeholder Impact
- Shareholders: The grants represent potential future dilution from new shares/options but also serve to align the interests of a key executive with shareholder value creation.
- Employees (specifically the reporting person): The compensation structure ties a significant portion of the executive's wealth to the company's long-term performance and continued employment.
Next Steps
- Continued service by Rodolfo Rodriguez Jr. to Dave & Buster's Entertainment, Inc. to meet the vesting conditions for the granted restricted stock units and stock options.
Key Dates
| Date | Description |
|---|---|
| 2025-01-08 | Grant date for contingent stock options (4,637 and 2,898 shares) to the reporting person. |
| 2025-06-18 | Date of earliest transaction; Annual meeting of shareholders where the Dave & Buster's Entertainment, Inc. 2025 Omnibus Incentive Plan was approved, making contingent stock options effective. |
| 2025-06-27 | Transaction date for the grant of 1,295 restricted stock units and 1,295 stock options. |
| 2025-06-27 | Expiration date for 1,295 stock options granted on this date. |
| 2025-07-08 | Signature date of the filing by Sherri M. Smith, Attorney-in-Fact. |
| 2026-01-08 | First vesting date for 4,637 and 2,898 contingent stock options. |
| 2026-04-24 | First vesting date for 1,295 restricted stock units and 1,295 stock options. |
| 2027-01-08 | Second vesting date for 4,637 and 2,898 contingent stock options. |
| 2027-04-24 | Second vesting date for 1,295 restricted stock units and 1,295 stock options. |
| 2028-01-08 | Third vesting date for 4,637 and 2,898 contingent stock options. |
| 2028-04-24 | Third vesting date for 1,295 restricted stock units and 1,295 stock options. |
| 2029-01-08 | Fourth vesting date for 4,637 and 2,898 contingent stock options. |
| 2030-01-08 | Fifth vesting date for 2,898 contingent stock options. |
| 2035-01-08 | Expiration date for 4,637 and 2,898 contingent stock options. |
Recommendation
holdKeywords
Dave & Buster's, PLAY, Rodolfo Rodriguez Jr., SEC Form 4, Insider Transaction, Equity Grant, Restricted Stock Units, Stock Options, Executive Compensation, Corporate Governance, Incentive Plan
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