Form 4: Dave Inc. Director Dan Preston Executes Stock Option and Sells Shares Under 10b5-1 Plan

Director Dan Preston exercised stock options and sold shares of Dave Inc. under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On March 5, 2024, Dan Preston, a director of Dave Inc., exercised stock options to acquire 12,000 shares of Class A Common Stock at a price of $0.96 per share.
• Simultaneously, Preston sold 12,000 shares of Class A Common Stock at a weighted average price of $32.02 per share, with individual transactions ranging from $32.00 to $32.40.
• These transactions were executed under a Rule 10b5-1 trading plan adopted on September 5, 2023.
• Following these transactions, Preston beneficially owns 33,039 shares of Class A Common Stock and 12,125 stock options.
• Preston has granted a power of attorney to Kyle Beilman and Joan Aristei to handle Section 16 reporting obligations.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing insider transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. The use of a 10b5-1 plan suggests a pre-arranged strategy for selling shares to avoid accusations of trading on inside information.

Stakeholder Impact

• Shareholders may be interested in the trading activity of company directors.
• The transactions could have a minor impact on the stock price, depending on market perception.

Key Dates