Form 4: Dave Inc. CFO Sells Shares Under Pre-Arranged 10b5-1 Plan

Dave Inc.'s CFO and COO, Kyle Beilman, sold 59,541 shares of Class A Common Stock on September 19, 2025, under a pre-arranged 10b5-1 trading plan.

Summary

• Kyle Beilman, the Chief Financial Officer, Chief Operating Officer, and Secretary of Dave Inc., reported the sale of Class A Common Stock.
• On September 19, 2025, a total of 59,541 shares were disposed of in two separate transactions.
• The sales were executed pursuant to a Rule 10b5-1 trading plan, which was adopted by Mr. Beilman on June 4, 2025.
• The first transaction involved the sale of 59,141 shares at a weighted average price of $230.06 per share, with individual prices ranging from $230.00 to $230.90.
• The second transaction involved the sale of 400 shares at a price of $231.00 per share.
• Following these reported transactions, Kyle Beilman beneficially owns 154,051 shares of Dave Inc. Class A Common Stock.

Sentiment

Score: 5

Explanation: The filing reports routine insider sales executed under a pre-arranged 10b5-1 trading plan, which typically carries a neutral sentiment as it is not indicative of new information or a change in management's outlook.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived negatively by the market as it reduces management's direct equity stake in the company.
• The total value of shares sold by the CFO and COO amounted to approximately $13.7 million.

Stakeholder Impact

• Shareholders may note the reduction in direct equity ownership by a key executive, though the pre-planned nature of the sale mitigates concerns about immediate negative sentiment.

Key Dates

Recommendation

This Form 4 details a pre-scheduled insider sale under a 10b5-1 plan, which is a routine event and does not provide new fundamental information to warrant a change in investment thesis. Investors should continue to hold based on broader company fundamentals rather than this specific transaction.

Keywords

Dave Inc., DAVE, Form 4, insider trading, stock sale, Kyle Beilman, 10b5-1 plan, CFO, COO, equity disposition