Dave & Buster's appoints Tarun Lal as CEO; interim CEO Sheehan remains Chairman

Dave & Buster's Entertainment, Inc.

Tarun Lal (ex-KFC U.S. President) appointed CEO and board member effective July 14, 2025.
Base salary $800,000, target bonus 100% of salary, LTIP target 125% of base salary.
Inducement equity: 124,766 stock options, 249,532 PSUs tied to same-store sales and EBITDA targets, plus stock-price-linked options.
Kevin Sheehan steps down as interim CEO, continues as Chairman of the Board.
Board adopted inducement plan reserving 2M shares for new-hire awards under Nasdaq Rule 5635(c)(4).

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