Carolyn L. O'Boyle - Mar 1, 2024 Form 4 Insider Report for BOSTON BEER CO INC (SAM)

Signature
Michael G. Andrews under POA for the benefit of Carolyn L. O'Boyle
Stock symbol
SAM
Transactions as of
Mar 1, 2024
Transactions value $
-$142,700
Form type
4
Date filed
3/4/2024, 04:05 PM
Previous filing
Feb 2, 2024
Next filing
Mar 18, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SAM Class A Common Sale -$31.5K -102 -3.88% $308.45 2.53K Mar 1, 2024 Direct F1, F2
transaction SAM Class A Common Tax liability -$111K -361 -14.28% $308.14 2.17K Mar 1, 2024 Direct F2, F3
transaction SAM Class A Common Award $0 +4.87K +224.64% $0.00 7.04K Mar 1, 2024 Direct F2, F4

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 2, 2020 Stock Option Award $0 +2.34K +50.02% $0.00 7.03K Mar 1, 2024 Class A Common 7.03K $370.79 Direct F5
transaction SAM March 1, 2021 Stock Option Award $0 +156 +50.16% $0.00 467 Mar 1, 2024 Class A Common 467 $1,028.71 Direct F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transactions reported in this row were effectuated pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on August 14, 2023.
F2 The shares reported include 5,913 shares of restricted stock subject to vesting conditions.
F3 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") and investment shares. The Reporting Person had a total of 1,104 RSUs and 26 investment shares vest on March 1, 2024.
F4 Represents grants of Restricted Stock Units ("RSUs") under the Issuer's Restated Employee Equity Incentive Plan ("EEIP"). The details of these grants were disclosed in a Current Report on Form 8-K filed by the Issuer on February 22, 2024.
F5 The Performance-Based Stock Options were granted pursuant to the Issuer's Employee Equity Incentive Plan ("EEIP") on March 2, 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 vested in three equal installments on March 1 in the years 2022-2024.
F6 The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2021. 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 2022 over Fiscal Year 2020. In February 2023, 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 2023-2025, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.