Form 4: Dave Inc. Director Dan Preston Sells Shares Under 10b5-1 Trading Plan

Director Dan Preston sold shares of Dave Inc. Class A Common Stock on June 6, 2024, under a pre-arranged 10b5-1 trading plan.

Summary

• On June 6, 2024, Dan Preston, a director of Dave Inc., sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on September 5, 2023.
• Two transactions occurred: the first involved the sale of 2,706 shares at a weighted average price of $38.86, and the second involved the sale of 12,064 shares at a weighted average price of $40.64.
• Following these transactions, Preston directly owns 22,995 shares of Class A Common Stock.
• The reporting person will provide full information regarding the number of shares sold at each separate price within the specified ranges upon request.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating stock sales by a company director. It doesn't inherently convey positive or negative sentiment, as it's a routine disclosure.

Industry Context

Sales by company insiders are a common occurrence and are often viewed in the context of the insider's personal financial planning. The use of 10b5-1 trading plans allows insiders to sell shares over a period of time while avoiding concerns about insider trading.

Stakeholder Impact

• The stock sale may have a minor impact on shareholders, potentially causing a slight decrease in stock price due to increased supply.
• The impact on other stakeholders (employees, customers, suppliers, creditors) is likely to be negligible.

Key Dates