Matthew D. Murphy - Mar 1, 2023 Form 4 Insider Report for BOSTON BEER CO INC (SAM)

Role: Chief Accounting Officer
Signature: Matthew D. Murphy
Stock symbol: SAM
Transactions as of: Mar 1, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/2/2023, 08:53 AM
Previous filing: Mar 17, 2022
Next filing: Mar 21, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAM	Class A Common	Award	$0	+387	+14.92%	$0.00	2.98K	Mar 1, 2023	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, 2023 Stock Option	Award	$0	+771		$0.00	771	Mar 1, 2023	Class A Common Stock	771	$323.80	Direct	F3

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

Explanation of Responses:

Id	Content
F1	Represents a grant of Restricted Stock Units ("RSUs") under the Issuer's Restated Employee Equity Incentive Plan. The RSUs will vest in four equal installments over a four year period, provided that the Reporting Person remains employed by the Issuer as of the applicable vesting date, and subject to accelerated vesting in certain situations.
F2	The shares reported include 1,150 shares of restricted stock subject to vesting conditions. A total of 452 RSUs and 50 ISPs vested on March 1, 2023.
F3	The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2023. The extent to which the options become exercisable is dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2024 over Fiscal Year 2022. The Compensation Committee will determine if the performance criteria have been achieved prior to March 1, 2025. If the performance criteria is achieved, the options vest in three equal installments on March 1 in the years 2025-2027, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.