PLAY Dave & Buster's Entertainment, Inc.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 4/4 quarters. Q3 2025: $28M, Q2 2025: $50M, Q1 2025: $10M, Q3 2024: $100M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $28M vs trailing avg $53M (-48%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Negative FCF ($-481M), buybacks not supported by cash flow

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 30,642,434 shares = 86.2% of 35,550,000 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

4 open-market purchases by 2 insiders

• Rodriguez Rodolfo Jr (SVP, Chief Legal Officer) bought 730 shares at $20.10 on 2026-01-16
• Lal Tarun (Chief Executive Officer) bought 1,000 shares at $18.39 on 2025-10-21
• Lal Tarun (Chief Executive Officer) bought 2,500 shares at $20.52 on 2025-09-18
• Lal Tarun (Chief Executive Officer) bought 8,060 shares at $31.26 on 2025-07-22

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 4 quarters and 4 insider purchases by 2 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $0M, sold $0M in the last 90 days (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected