Darin Harper - Jun 24, 2024 Form 4 Insider Report for Dave & Buster's Entertainment, Inc. (PLAY)

Signature
Sherri M. Smith, Attorney-in-Fact
Stock symbol
PLAY
Transactions as of
Jun 24, 2024
Transactions value $
$1,524,958
Form type
4
Date filed
6/26/2024, 06:08 PM
Previous filing
Jun 17, 2024
Next filing
Jun 28, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PLAY Common Stock Award $0 +20.7K $0.00 20.7K Jun 24, 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction PLAY Stock Option (Right to Buy) Award $1M +20.7K $48.22 20.7K Jun 24, 2024 Common Stock 20.7K Direct F1
transaction PLAY Stock Option (Right to Buy) Award $525K +10.9K $48.22 10.9K Jun 24, 2024 Common Stock 10.9K Direct F2
transaction PLAY Performance Stock Unit 8 Award $0 +41.5K $0.00 41.5K Jun 24, 2024 Common Stock 41.5K Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Vests in 5 equal tranches on 6/24/25, 6/24/26, 6/24/27, 6/24/28, 6/24/29.
F2 This grant is subject to a condition whereby the Reporting Person is required to purchase $525,000 (the "Maximum Amount") in the Registrants common stock, par value $0.01 per share (the "Common Stock") during an open trading window on or before July 23, 2024 (or the next available open trading window if the preceding trading windows are closed), hold such purchased Common Stock when the related options vest subject to a decline in the amount of required holding by 20% upon the vesting of each annual installment. In the event Reporting Person fails to comply with the purchasing vesting condition, they will forfeit an amount of the options proportionate to any shortfall from such Maximum Amount to a minimum threshold of $300,000 after which all the options will be forfeited. Subject to the forgoing conditions, the options vest in equal installments on June 24, 2025, 2026, 2027, 2028 and 2029.
F3 Represents the Target Achievable performance-based restricted stock units ("PSUs") for the five-year performance period from June 24, 2024 through June 24, 2029. The number of PSUs earned will equal to the Target Achievable PSUs if the Company's Common Stock share price is greater than or equal to $96.44; based on the volume-weighted average price for the sixty (60) consecutive trading days ending on June 24, 2029 ("Target Price"). Early vesting may occur upon achievement of the Target Price prior to June 24, 2029. Upon the 1st early achievement of the Target Price, 25% of the PSUs will vest 1 year after such date; 25% of the PSUs will vest on 2 years after such date; and 50% of the PSUs ("Remaining PSUs") will vest on June 24, 2029. Upon the 2nd early achievement of the Target Price, 50% of the Remaining PSUs will vest 1 year after such date; and 50% of the Remaining PSUs will vest on 2 years after such date. No early vesting shall occur later than June 24, 2029.