Jason Wilk, Chief Executive Officer and Director of Dave Inc./DE (NASDAQ:DAVE), filed a Form 4 on September 15, 2026, disclosing a variable prepaid forward contract entered on September 11, 2026, involving 37,090 shares of Class A Common Stock.

Key Highlights

  • Transaction date: Jason Wilk entered the variable prepaid forward contract on September 11, 2026, with an unaffiliated counterparty.
  • Shares involved: 37,090 shares of Dave Inc. Class A Common Stock were pledged to secure obligations under the contract.
  • Upfront payment: According to the filing, Wilk will receive an upfront cash payment of $10.9 million in exchange for entering the contract.
  • Maturity date: The contract settlement date is on or about August 30, 2029.
  • Price thresholds: The filing specifies a Minimum Price of $319.33 and a Maximum Price of $481.48, which determine the number of shares to be delivered at settlement.
  • Voting rights retained: The filing states that Wilk will retain all voting rights in the pledged shares during the term of the pledge.
  • Cash settlement option: The reporting person may, subject to certain conditions, elect to settle the contract in cash rather than deliver shares.

Details of Jason Wilk's Prepaid Forward Contract at Dave Inc.

According to the Form 4 filing, Jason Wilk, who serves as Chief Executive Officer, Director, and a 10% owner of Dave Inc./DE (NASDAQ:DAVE), entered into a variable prepaid forward contract on September 11, 2026, with an unaffiliated counterparty. Dave Inc. is a Delaware-incorporated issuer whose Class A Common Stock trades on the NASDAQ exchange. Under the contract, Wilk pledged 37,090 shares of the company's Class A Common Stock as security for his obligations and will receive an upfront cash payment of $10.9 million.

The filing describes a settlement structure in which the number of shares ultimately delivered depends on the closing price of Dave Inc.'s Class A Common Stock on or about the Maturity Date of August 30, 2029. Specifically, the filing states that if the Settlement Price falls between the Minimum Price of $319.33 and the Maximum Price of $481.48, Wilk will deliver a number of shares equal to the Subject Shares multiplied by a ratio of the Minimum Price divided by the Settlement Price. If the Settlement Price equals or exceeds the Maximum Price, a different formula applies that accounts for the excess above that threshold. If the Settlement Price equals or falls below the Minimum Price, the full 37,090 Subject Shares would be delivered.

The transaction was coded "J" in Table II of the filing, which covers derivative securities. The filing indicates the contract is classified as a direct ownership form. Wilk retains voting rights over the pledged shares throughout the contract term. The Form 4 was signed by Joan Aristei as Attorney-in-Fact for Jason Wilk and filed on September 15, 2026.

What Was Disclosed

The filing discloses that Dave Inc. CEO Jason Wilk entered a variable prepaid forward contract on September 11, 2026, pledging 37,090 Class A Common Stock shares to secure a $10.9 million upfront payment, with final share delivery determined by the stock's settlement price on or about August 30, 2029.