Benefit David L. Grinnell - 01 Mar 2022 Form 4 Insider Report for BOSTON BEER CO INC (SAM)

Role: Vice President of Brewing
Signature: Michael G. Andrews under POA for the benefit of David L. Grinnell
Issuer symbol: SAM
Transactions as of: 01 Mar 2022
Net transactions value: $0
Form type: 4
Filing time: 02 Mar 2022, 15:25:10 UTC
Previous filing: 04 Jan 2022
Next filing: 07 Jun 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAM	Class A Common	Tax liability	$0	-75	-4.4%	$0.000000	1,611	01 Mar 2022	Direct	F1, F2

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	SAM	March 1, 2019 Stock Option	Award	$0	+331	+72%	$0.000000	792	01 Mar 2022	Class A Common	992	$312.56	Direct	F3
transaction	SAM	March 1, 2020 Stock Option	Award	$0	+363	+50%	$0.000000	1,089	01 Mar 2022	Class A Common	1,089	$370.79	Direct	F4

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

Explanation of Responses:

Id	Content
F1	The Issuer "net withheld" the vesting of a percentage of shares to satisfy the tax obligations of the Reporting Person flowing from the vesting of Restricted Stock Units ("RSUs"). The Reporting Person had a total of 251 RSUs vest on March 1, 2022.
F2	The shares reported include 848 shares of restricted stock subject to vesting conditions.
F3	The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2019. The extent to which the options were exercisable was dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2020 over Fiscal Year 2018. In February 2021, the Compensation Committee determined that the performance criteria had been achieved, and as such the options vest in three equal installments on March 1 in the years 2021-2023, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.
F4	The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2020. The extent to which the options were exercisable was dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2021 over Fiscal Year 2019. In February 2022, the Compensation Committee determined that the performance criteria had been achieved, and as such the options vest in three equal installments on March 1 in the years 2022-2024, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.