Quincy B. Troupe - Mar 3, 2022 Form 4 Insider Report for BOSTON BEER CO INC (SAM)

Role
Senior VP, Supply Chain
Signature
Michael G. Andrews under POA for the benefit of Quincy B. Troupe
Stock symbol
SAM
Transactions as of
Mar 3, 2022
Transactions value $
-$1,715,056
Form type
4
Date filed
3/4/2022, 03:07 PM
Previous filing
Mar 2, 2022
Next filing
Mar 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SAM Class A Common Options Exercise $202K +1.06K +22.61% $191.10 5.74K Mar 3, 2022 Direct F1
transaction SAM Class A Common Options Exercise $862K +4.48K +78.08% $192.26 10.2K Mar 3, 2022 Direct F1
transaction SAM Class A Common Sale -$1.51M -3.84K -37.54% $393.71 6.39K Mar 3, 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 1-1-18 Stock Option Options Exercise -$202K -1.06K -100% $191.10 0 Mar 3, 2022 Class A Common 2.12K $191.10 Direct F3
transaction SAM 2-23-2016 Stock Option Options Exercise -$1.07M -5.54K -55.28% $192.26 4.48K Mar 3, 2022 Class A Common 22.4K $192.26 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares reported include 2,765 shares of restricted stock subject to vesting conditions.
F2 On the Transaction Date, the Reporting Person exercised option shares and sold a certain number of those exercised shares to cover the tax liability flowing from those exercises, and held the remaining shares.
F3 The Performance-Based Stock Option was granted pursuant to the Issuer's Restated Employee Equity Incentive Plan ("EEIP") on January 1, 2018. 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 2019 over Fiscal Year 2017. The determination that these options vested was made by the Compensation Committee in February 2020. Thereafter, the options become exercisable in three equal installments on March 1, 2020; January 1, 2021; and January 1, 2022.
F4 The Service-Based Stock Option was granted pursuant to the Issuer's EEIP on February 23, 2016. The option is scheduled to vest in five equal installments on February 23 in each of the years 2019-2023, provided that the Reporting Person remains employed by the Company on the applicable vesting dates.