DM Individual Aggregator, LLC - Dec 14, 2023 Form 4 Insider Report for Dutch Bros Inc. (BROS)

Role: 10%+ Owner
Signature: /s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma, Manager
Stock symbol: BROS
Transactions as of: Dec 14, 2023
Transactions value $: -$4,745,074
Form type: 4
Date filed: 12/15/2023, 08:40 PM
Previous filing: Nov 13, 2023
Next filing: Dec 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BROS	Class A Common Stock	Sale	-$4.75M	-156K	-9.88%	$30.38	1.43M	Dec 14, 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id	Content
F1	As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 15, 2023.
F2	Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $30.0000 to $30.7800 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

Content

As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 15, 2023.

Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $30.0000 to $30.7800 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.