Klohn Steve 4

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.