Form 4: Dave Inc. Director Michael W. Pope Reports Acquisition of Restricted Stock Units

Director Michael W. Pope acquired 4,726 shares of Class A Common Stock underlying a restricted stock unit award from Dave Inc.

Summary

• On June 3, 2024, Michael W. Pope, a director of Dave Inc., acquired 4,726 shares of Class A Common Stock related to a restricted stock unit (RSU) award.
• The RSU was granted under the company's Amended and Restated 2021 Equity Incentive Plan as part of annual awards for directors.
• The shares were acquired at a price of $0.
• The RSU will vest in full on the earlier of June 3, 2025, or the date of the company's next annual shareholder's meeting, contingent upon Pope's continued service on the Board of Directors.
• Following the transaction, Pope directly owns 37,765 shares of Class A Common Stock.
• Pope has granted Kyle Beilman and Joan Aristei power of attorney to handle SEC filings on his behalf.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects a standard executive compensation practice, indicating confidence in the company's future.

Positives

• The grant of restricted stock units to directors aligns their interests with those of the shareholders.
• The vesting schedule incentivizes continued service on the Board of Directors.

Future Outlook

The RSU will vest in full on the earlier of (i) June 3, 2025, and (ii) the date of the Issuer's next annual shareholder's meeting, subject to the Reporting Person's continued service as a member of the Board of Directors through such vesting date.

Industry Context

This filing is a routine disclosure related to executive compensation and is common for publicly traded companies. It reflects standard practices for incentivizing and retaining board members.

Comparison to Industry Standards

• Granting restricted stock units to directors is a common practice among publicly traded companies to align their interests with shareholders.
• Vesting schedules tied to continued service are also standard in the industry.
• The size of the grant and the specific vesting terms would need to be compared to peer companies to assess whether they are in line with industry norms.

Stakeholder Impact

• The grant of RSUs to directors can positively impact shareholders by aligning management's interests with theirs.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates