DM Individual Aggregator, LLC - Jan 24, 2024 Form 4 Insider Report for Dutch Bros Inc. (BROS)

Role
10%+ Owner
Signature
/s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma, Manager
Stock symbol
BROS
Transactions as of
Jan 24, 2024
Transactions value $
$0
Form type
4
Date filed
1/25/2024, 09:59 PM
Previous filing
Jan 2, 2024
Next filing
Feb 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BROS Class A Common Stock Conversion of derivative security $0 +233K +17.31% $0.00 1.58M Jan 24, 2024 Direct F1
transaction BROS Class B Common Stock Conversion of derivative security $0 -233K -1.01% $0.00 22.9M Jan 24, 2024 Direct 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 Class A Common Units Conversion of derivative security $0 -233K -1.01% $0.00 22.9M Jan 24, 2024 Class A Common Stock 233K Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Dutch Mafia, LLC ("Dutch Mafia"), dated September 14, 2021, Class A Common Units of Dutch Mafia, together with an equal number of shares of Class B Common Stock of the Issuer are exchangeable for shares of Class A Common Stock on a one-for-one basis at the discretion of the holder, subject to certain exceptions, conditions and adjustments. Upon such exchange, the associated shares of Class B Common Stock are surrendered and canceled by the Issuer. The Class A Common Units of Dutch Mafia and the Class B Common Stock of the Issuer do not have an expiration date and the holders thereof are not required to pay an exercise price in connection with exchanges. On January 24, 2024, the Reporting Person exchanged 233,333 Class A Common Units for 233,333 shares of Class A Common Stock of the Issuer, and the corresponding number of shares of Class B Common Stock were canceled by the Issuer.
F2 Represents Class A Common Units of Dutch Mafia.