Travis Boersma - 19 Apr 2024 Form 4 Insider Report for Dutch Bros Inc. (BROS)

Role: Executive Chairman of Board, Director, 10%+ Owner
Signature: /s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma
Issuer symbol: BROS
Transactions as of: 19 Apr 2024
Net transactions value: $0
Form type: 4
Filing time: 23 Apr 2024, 12:37:19 UTC
Previous filing: 22 Mar 2024
Next filing: 13 May 2024
SEC: View on sec.gov

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	+1,150,326	+109%	$0.000000	2,201,504	19 Apr 2024	By DM Trust Aggregator, LLC	F1
transaction	BROS	Class A Common Stock	Conversion of derivative security	$0	+694,220	+103%	$0.000000	1,366,659	19 Apr 2024	By DM Individual Aggregator, LLC	F1
transaction	BROS	Class B Common Stock	Conversion of derivative security	$0	-1,150,326	-3.2%	$0.000000	35,307,815	19 Apr 2024	By DM Trust Aggregator, LLC	F1
transaction	BROS	Class B Common Stock	Conversion of derivative security	$0	-694,220	-3%	$0.000000	22,204,785	19 Apr 2024	By DM Individual Aggregator, LLC	F1
holding	BROS	Class B Common Stock						714,080	19 Apr 2024	By DMI Holdco LLC

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	BROS	Class A Common Units	Conversion of derivative security	$0	-1,150,326	-3.2%	$0.000000	35,307,815	19 Apr 2024	Class A Common Stock	1,150,326	By DM Trust Aggregator, LLC	F1, F2
transaction	BROS	Class A Common Units	Conversion of derivative security	$0	-694,220	-3%	$0.000000	22,204,785	19 Apr 2024	Class A Common Stock	694,220	By DM Individual Aggregator, LLC	F1, F2
holding	BROS	Class A Common Units						714,080	19 Apr 2024	Class A Common Stock	714,080	By DMI Holdco LLC	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.
F2	Represents Class A Common Units of Dutch Mafia, the operating company of the Issuer.

Content

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.

Represents Class A Common Units of Dutch Mafia, the operating company of the Issuer.