Dave & Buster's Entertainment announced inducement grants of stock options and performance stock units (PSUs) to its new Chief Executive Officer, Tarun Lal, on July 15, 2025. These awards were approved by the Board in accordance with Nasdaq Listing Rule 5635(c)(4) and are designed to align Mr. Lal's incentives directly with the company's performance and shareholder value creation.
The stock options include 124,766 options vesting annually over three years, an additional 124,766 options earned if the stock price doubles before February 1, 2028, and 83,177 options earned if the stock price triples before February 1, 2028. An additional 31,191 options will vest annually over three years, conditioned on Mr. Lal's purchase of $1,000,000 of company common stock by December 31, 2026.
The PSUs include 124,766 units earned upon achievement of same-store sales growth metrics over a specified performance period, and another 124,766 units earned and vested based on achievement of certain 2027 Adjusted EBITDA, average same-store sales growth, and relative Total Shareholder Return (TSR) metrics. This compensation structure emphasizes aggressive growth and profitability targets for the new CEO.
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