Dave & Buster’s Entertainment, Inc. senior vice president and chief development officer Les Lehner reported a mix of equity grant and cancellation activity. He received 11,013 shares of common stock as restricted stock units under the 2025 Omnibus Incentive Plan, which vest in three equal annual installments on July 14, 2026, 2027 and 2028. He was also granted stock options on common stock in three tranches: 11,013 and 41,794 options with a $22.70 exercise price and 28,271 options with a $34.05 exercise price, each expiring on October 7, 2035. The options vest based on time and stock price performance, including volume‑weighted average price hurdles of $64.12 and $96.18 that must be met before February 1, 2028, followed by additional vesting over one or two years. At the same time, 21,598 and 26,998 performance-based restricted stock units granted on October 7, 2022 were cancelled and returned to the issuer. Following these transactions, Lehner directly owns 53,670 shares of common stock. The Form 4 also corrects a prior December 23, 2025 filing that understated his ownership by 11,013 shares due to an administrative error.
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