John Graham - Jan 3, 2023 Form 4 Insider Report for Dutch Bros Inc. (BROS)

Role: Chief Marketing Officer
Signature: /s/ Charles Jemley, as Attorney-in-Fact for John Graham
Stock symbol: BROS
Transactions as of: Jan 3, 2023
Transactions value $: -$1,412,293
Form type: 4
Date filed: 1/4/2023, 04:22 PM
Previous 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	+89.17%	$0.00	309K	Jan 3, 2023	Direct
transaction	BROS	Class A Common Stock	Tax liability	-$1.41M	-52K	-16.83%	$27.16	257K	Jan 3, 2023	Direct
holding	BROS	Class A Common Stock						172K	Jan 3, 2023	By Ithaca Trust	F1

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	-49.99%	$0.00	146K	Jan 3, 2023	Class A Common Stock	146K		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Securities held in 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, and the filing of this report is not an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F2	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.
F3	The reporting person received 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.