John Graham - Jan 3, 2022 Form 4 Insider Report for Dutch Bros Inc. (BROS)

Role: Chief Marketing Officer
Signature: /s/ Joshua Lute, as Attorney-in-Fact for John Graham
Stock symbol: BROS
Transactions as of: Jan 3, 2022
Transactions value $: -$3,002,513
Form type: 4
Date filed: 1/5/2022, 05:50 PM
Previous filing: Nov 12, 2021
Next filing: Dec 15, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BROS	Class A Common Stock	Options Exercise	$0	+146K	+175.35%	$0.00	229K	Jan 3, 2022	Direct	F1
transaction	BROS	Class A Common Stock	Tax liability	-$3M	-57.3K	-25.05%	$52.42	171K	Jan 3, 2022	Direct	F2, F3
holding	BROS	Class A Common Stock						172K	Jan 3, 2022	By Ithaca Trust	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	BROS	Restricted Stock Units	Options Exercise	$0	-146K	-33.32%	$0.00	291K	Jan 3, 2022	Class A Common	146K		Direct	F1, F5

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

Explanation of Responses:

Id	Content
F1	The restricted stock units represent a contingent right to receive a corresponding number of shares of the Class A Common Stock of the Issuer upon vesting.
F2	Shares surrendered to the issuer to satisfy tax withholding obligations applicable to restricted stock units.
F3	The stock price reported in column 4 represents the closing stock price of the issuer on January 3, 2022.
F4	Securities held in a trust for the benefit of the reporting person's spouse and children. The reporting person's spouse is trustee of the trust. The reporting person disclaims beneficial ownership of these securities.
F5	On September 17, 2021, the reporting person was granted an award of restricted stock units with 50% vesting as of the date of grant, 16.66% vesting on January 1, 2022 and 16.67% vesting on each of January 1, 2023 and January 1, 2024. If the vesting date occurs on a date that is not a business day, delivery and execution shall instead occur on the next business day.