Klohn Steve 4
4 · Dave & Buster's Entertainment, Inc. · Filed Mar 27, 2026
Research Summary
AI-generated summary of this filing
Dave & Buster's (PLAY) SVP Steve Klohn Receives Awards
What Happened
Steve Klohn, Senior Vice President & Chief Information Officer of Dave & Buster's Entertainment, reported multiple equity awards and the cancellation of prior performance awards. The Form 4 shows several grants at $0 per share (restricted stock units and stock option awards) and the cancellation (disposition to issuer) of previously granted performance-based RSUs. No open-market purchases or sales of common stock were reported — these were equity compensation actions, not cash transactions.
Key Details
- Reported transaction dates: October 7, 2025 and March 25, 2026 (Form 4 filed March 27, 2026). The filing corrects a previously understated ownership total (see F2). The filing appears late relative to the October 2025 transaction date.
- Grants reported (price $0):
- 2025-10-07: Grant of 11,013 shares (non-derivative RSUs; see F1)
- 2026-03-25: Grant of 11,785 shares (RSUs; see F3)
- 2025-10-07: Derivative grants totaling 81,078 shares (11,013 + 41,794 + 28,271) — these are stock option-type awards described in footnotes F5–F7.
- Dispositions to issuer (cancellations), both on 2025-10-07: 21,598 and 26,998 shares (total 48,596) — footnote F4 states these are cancellations of prior performance-based RSUs.
- Corrected ownership: Footnote F2 says the Form 4 corrects Table I, Column 5 to add 11,013 shares that were previously omitted from filings on Dec 23, 2025 and Jan 23, 2026.
- Vesting/conditions (see footnotes):
- F1 RSUs vest in three equal annual installments (July 14, 2026/2027/2028).
- F3 RSUs vest on June 7, 2026.
- F5 options vest in three equal annual installments starting July 14, 2026.
- F6/F7 options are performance‑contingent: become earned if 60‑day trailing VWAP reaches $64.12 (2X) or $96.18 (3X) before Feb 1, 2028, with post‑attainment vesting timing tied to subsequent VWAP.
- No cash changed hands on these reported grant lines (all reported at $0 on Form 4). The cancellations removed previously outstanding performance awards.
Context
These entries are equity compensation (RSUs and options) rather than market buys or sales; such awards are routine for executives and reflect grant and plan mechanics rather than immediate market sentiment. The canceled items were performance-based RSUs from an earlier grant and reduce future potential shares. The Form 4 corrects prior reporting for ownership totals; because the Form 4 was filed months after the October 2025 transactions, investors should note the late reporting and review the corrected Table I ownership numbers.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2025-10-07+11,013→ 33,751 total - Award
Common Stock
[F3]2026-03-25+11,785→ 45,536 total - Disposition to Issuer
Performance Stock Unit
[F4]2025-10-07−21,598→ 0 total→ Common Stock (21,598 underlying) - Disposition to Issuer
Performance Stock Unit
[F4]2025-10-07−26,998→ 0 total→ Common Stock (26,998 underlying) - Award
Stock Option (Right to Buy)
[F5]2025-10-07+11,013→ 11,013 totalExercise: $22.70Exp: 2035-10-07→ Common Stock (11,013 underlying) - Award
Stock Option (Right to Buy)
[F6]2025-10-07+41,794→ 41,794 totalExercise: $22.70Exp: 2035-10-07→ Common Stock (41,794 underlying) - Award
Stock Option (Right to Buy)
[F7]2025-10-07+28,271→ 28,271 totalExercise: $34.05Exp: 2035-10-07→ Common Stock (28,271 underlying)
Footnotes (7)
- [F1]Represents restricted stock units granted to the reporting person under the Dave & Buster's Entertainment, Inc. 2025 Omnibus Incentive Plan (the "Plan"). The restricted stock units will vest in three equal annual installments on each of July 14, 2026, 2027 and 2028.
- [F2]This Form 4 includes the corrected ownership total in Table I, Column 5. The Form 4s filed by the reporting person on December 23, 2025 and January 23, 2026 understated the ownership total in Table I, Column 5 by 11,013 shares due to an administrative error failing to account for the grant of the restricted stock units described further in Note (1).
- [F3]Represents restricted stock units granted to the reporting person under the Plan. The restricted stock units will vest on June 7, 2026.
- [F4]Represents the cancellation of the performance-based restricted stock units subject to stock price-based vesting conditions previously granted to the reporting person on October 7, 2022.
- [F5]Represents stock options granted to the reporting person under the Plan. The shares underlying these stock options will vest and become exercisable in three equal annual installments on each of July 14, 2026, 2027 and 2028.
- [F6]Represents stock options granted to the reporting person under the Plan. The stock options will become earned upon the first date (the "2X Attainment Date") occurring before February 1, 2028 on which the 60-day trailing volume weighted average closing price ("VWAP") of the shares of common stock, $0.01 par value per share (the "Common Stock"), of Dave & Buster's Entertainment, Inc. (the "Issuer") is greater than or equal to $64.12. After the 2X Attainment Date, the shares underlying these stock options will vest and become exercisable on either the first or the second anniversary of the 2X Attainment Date depending on the Issuer's 60-day trailing VWAP on the first anniversary of the 2X Attainment Date.
- [F7]Represents stock options granted to the reporting person under the Plan. The stock options will become earned upon the first date (the "3X Attainment Date") occurring before February 1, 2028 on which the 60-day trailing VWAP of the Common Stock is greater than or equal to $96.18. After the 3X Attainment Date, the shares underlying these stock options will vest and become exercisable on either the first or the second anniversary of the 3X Attainment Date depending on the Issuer's 60-day trailing VWAP on the first anniversary of the 3X Attainment Date.