Form 4: Dave Inc. CFO Kyle Beilman Sells Shares to Cover Tax Obligations

Dave Inc.'s CFO, Kyle Beilman, sold 4,188 shares of Class A Common Stock on March 14, 2024, to satisfy tax obligations related to the settlement of vested RSUs.

Summary

• On March 14, 2024, Kyle Beilman, CFO and Secretary of Dave Inc., sold 4,188 shares of Class A Common Stock.
• The sale was executed to cover tax obligations arising from the settlement of vested Restricted Stock Units (RSUs).
• The shares were sold at a weighted average price of $33.26, with individual transactions ranging from $33.20 to $33.82.
• Following the transaction, Beilman directly owns 189,143 shares of Dave Inc.'s Class A Common Stock.
• A Power of Attorney was executed on March 1, 2024, granting Jason Wilk and Joan Aristei the authority to file Forms 3, 4, and 5 on Beilman's behalf.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to a stock sale for tax purposes, which is a neutral event.

Industry Context

Sales of shares by company executives are a normal part of corporate governance. It is common for executives to sell shares to cover tax obligations related to vesting of stock options or RSUs. These sales are usually disclosed through SEC filings like Form 4.

Stakeholder Impact

• The sale of shares by an executive can sometimes create short-term selling pressure on the stock, but this is usually minimal for sales of this size.

Key Dates