Dan Preston - 05 Jan 2022 Form 4 Insider Report for VPC Impact Acquisition Holdings III, Inc. (DAVE)

Role
Director
Signature
/s/ John Ricci, as Attorney-in-Fact
Issuer symbol
DAVE
Transactions as of
05 Jan 2022
Transactions value $
$0
Form type
4
Filing time
07 Jan 2022, 19:40:08 UTC
Previous filing
11 Feb 2022
Next filing
09 May 2022
SEC
View on sec.gov

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DAVE Stock Option (right to buy) Award +772K 772K 05 Jan 2022 Class A Common Stock 772K $0.03 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 5, 2022, pursuant to that certain Agreement and Plan of Merger, dated as of June 7, 2021 (the "Merger Agreement"), by and among VPC Impact Acquisition Holdings III, Inc. (the "Issuer"), Dave Inc., a Delaware corporation ("Legacy Dave"), and the other parties thereto, the Issuer completed its initial business combination (the "Business Combination"). As a result of the Business Combination, the Issuer changed its name to Dave Inc. In connection with the Business Combination and in accordance with the Merger Agreement, an option to purchase 570,000 shares of Class A Common Stock of Legacy Dave held by the Reporting Person was converted into an option to purchase 772,000 shares of Class A Common Stock of the Issuer. The issuance of the option was approved by the Issuer's board of directors pursuant to Rule 16b-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act").
F2 This exercise price reflects the conversion of Legacy Dave options to options to purchase shares of Class A Common Stock of the Issuer.
F3 The option is fully vested and exercisable.