The sale ended an enormous December push by tech gamers.
dave (Dave +0.40%) Director Imran Khan bought the remaining 1,146 shares of the corporate by means of an oblique open market sale on December 18, 2025, for a complete of roughly $233,778, in keeping with an SEC Type 4 submitting.
Transaction abstract
Transaction quantity primarily based on SEC Type 4 weighted common buy value ($204.00).
Fundamental query
How will this deal have an effect on Imran Khan’s possession of Dave?
Mr. Imran Khan’s oblique shares beforehand held by means of Proem Particular Conditions Fund I,LP have been utterly bought and his direct or oblique shares at the moment are zero after the transaction. Was this transaction a part of a broader liquidation technique?
Sure; this sale follows a sequence of progressively smaller transactions since June 2025, with the median sale dimension lowering as general holdings decline, in keeping with the depletion of remaining fairness capability. What’s the significance of the oblique possession construction on this utility?
As disclosed within the footnotes to Type 4, all shares have been disposed of not directly by means of Proem Particular Affairs Fund I, LP and no direct possession was concerned, emphasizing the whole exit of the Fund. How does the sale value evaluate to latest market circumstances?
The weighted common sale value was $204.00 per share, 7.8% beneath the December 23, 2025 value of $221.32.
Firm Profile
*If efficiency metrics are proven for one 12 months, use December 18, 2025 because the reference date.
Firm snapshot
We provide digital monetary providers comparable to private monetary administration, short-term credit score options, and digital banking by means of our on-line platform. We function a technology-driven platform centered on offering accessible, low-cost options to conventional banking merchandise. Serving particular person shoppers looking for streamlined, data-driven private finance options within the U.S. market.
Dave operates at scale within the technology-driven monetary providers sector, leveraging streamlined digital platforms to ship banking and credit score options. The corporate’s technique focuses on offering an accessible, low-cost various to conventional banking merchandise, positioning it as a disruptor within the shopper finance area. The corporate’s aggressive benefit lies in its centered product suite and data-driven method to non-public monetary administration.
In the present day’s modifications
(0.40%) $0.94
present value
$235.68
Key information factors
Market capitalization
$3.2 billion
each day vary
$232.75 – $236.50
52 week vary
$65.46 – $286.45
quantity
7.9K
common quantity
456K
gross revenue
69.36%
What this deal means for buyers
Dave board member Imran Khan, a former Snap government who helped orchestrate two of the tech trade’s largest IPOs, liquidated all of his shares within the neobank in mid-December, after an unbelievable 12 months for the neobank inventory. The gross sales, totaling about $20 million in a number of transactions between Dec. 15 and 18, come simply weeks after Dave reported report third-quarter outcomes and the inventory soared.
Dave’s inventory has soared 337% over the previous 12 months from a 52-week low of $65.46 to a July excessive of $286.45, dramatically outperforming the broader market. The inventory’s closing value on December 18th was $204, nonetheless greater than double its stage in early 2025.
Mr. Kahn bought his remaining 1,146 shares on December 18th for about $234,000, utterly eliminating Mr. Dave’s place. The sale ended a December sell-off that included a number of main transactions carried out by means of pre-arranged buying and selling plans set for March 2025.
Progress-oriented buyers drawn to Dave’s momentum ought to pay attention to the inventory’s excessive volatility. The inventory trades at a beta of three.9 and has moved almost 4 instances sooner than the broader market. Though Dave has proven sturdy execution, the inventory stays extremely delicate to quarterly outcomes and fintech sentiment.
Glossary
Oblique holding: Proudly owning a safety by means of one other entity, comparable to a fund or partnership, slightly than in your individual identify.
Open Market Sale: Promoting securities on a public change the place anybody should buy, slightly than in a personal transaction.
SEC Type 4: A required submitting disclosing insider buying and selling by an organization’s officers, administrators, or important shareholders.
Deliberate Exit: A pre-planned technique for promoting or disposing of an funding place in levels.
Weighted Common Worth: The common value of shares bought, weighted by the variety of shares in every commerce.
Oblique possession: Holding an curiosity in an asset by means of one other entity comparable to a fund or partnership.
Proem Particular Methods Fund I, LP: A restricted partnership funding fund usually used to personal and handle securities.
Insider Buying and selling: The shopping for and promoting of an organization’s securities by people who’ve entry to nonpublic materials details about the corporate.
Multi-step exit: As a substitute of promoting your place all of sudden, you promote it in a number of steps over time.
Transaction Quantity: The whole quantity acquired or paid for a specific safety transaction.
Possession: The share of inventory or curiosity in an organization held by an individual or entity.
TTM: 12-month interval to newest quarterly report.
