Form 4: Dave & Buster's SVP Lehner Disposes of Shares

Dave & Buster's SVP, Chief Development Officer Les Lehner reported the disposition of 730 shares of common stock for tax withholding purposes.

Summary

• Les Lehner, SVP, Chief Development Officer of Dave & Buster's Entertainment, Inc. (PLAY), reported a transaction on October 7, 2025.
• Lehner disposed of 730 shares of common stock, a transaction coded as 'F', which typically indicates a disposition to satisfy tax withholding obligations.
• The price per share for this disposition was $0.
• Following this transaction, Lehner directly beneficially owns 43,650 shares of Dave & Buster's common stock.

Sentiment

Score: 5

Explanation: Neutral, as this is a routine insider transaction for tax withholding purposes and does not reflect a discretionary sale or purchase.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Minimal direct impact on shareholders as it's a routine tax-related disposition, not a discretionary sale indicating lack of confidence.

Key Dates

Recommendation

The reported transaction is a routine disposition of shares by an executive to cover tax withholding obligations upon the vesting of equity awards. This is a common practice and does not reflect a discretionary sale based on the executive's view of the company's prospects. Therefore, it does not provide new information that would alter an existing investment thesis, warranting a 'hold' recommendation.

Keywords

Dave & Buster's, PLAY, Les Lehner, Form 4, Insider Transaction, Stock Disposition, Tax Withholding, Common Stock