SHEEHAN KEVIN M 4

What Happened

• Kevin M. Sheehan, a director serving as interim CEO of Dave & Buster's Entertainment, Inc. (PLAY), was reported as the recipient of a contingent equity award covering 100,000 shares. The Form 4 lists the transaction as an award/acquisition of a derivative instrument (100,000 shares) at $0.00; the underlying instrument is a stock option that immediately vested and became exercisable upon shareholder approval on June 18, 2025. No cash was reported as paid at grant/vesting.

Key Details

• Transaction date: 2025-06-18 (event: shareholder approval triggered vesting); Form 4 filed 2026-04-23 (late filing).
• Transaction type/code: A (award/grant of a derivative instrument — contingent stock option).
• Quantity and price: 100,000 shares; recorded as $0.00 in the filing for the acquisition entry.
• Shares owned after transaction: Not specified in the Form 4 filing provided.
• Footnote: The award was a contingent stock option granted May 1, 2025, that vested and became exercisable immediately after the Issuer's June 18, 2025 shareholder approval of the 2025 Omnibus Incentive Plan.
• Timeliness: The Form 4 was filed about 10 months after the reported vesting date; late filings should be noted by investors but do not change the facts of the grant.

Context

• This was an award/vesting event (not an open-market buy or sale). The filing indicates the underlying option simply vested and became exercisable; there is no indication in the filing that shares were exercised or sold immediately (i.e., not a cashless exercise or sale reported).
• Awards to executives upon plan approval are common; they represent compensation/retention rather than an outright market purchase or sale.