DM Trust Aggregator, LLC - 22 Apr 2026 Form 4 Insider Report for Dutch Bros Inc. (BROS)

Reporting relationship: 10%+ Owner
Issuer ticker: BROS
Reported as of: 22 Apr 2026
Net transaction value: $0
SEC form: 4
Accepted by SEC: 24 Apr 2026, 17:12:13 UTC
Prior SEC filing: 26 Nov 2025
Next SEC filing: 29 Apr 2026
Source filing: View source filing
Reporting owner signature: /s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma, Manager

Key filing fact

DM Trust Aggregator, LLC filed Form 4 for Dutch Bros Inc. (BROS) on 24 Apr 2026.

Key facts

This page summarizes DM Trust Aggregator, LLC's Form 4 filing for Dutch Bros Inc. (BROS).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 24 Apr 2026, 17:12.

Change

Previous filing in this sequence was filed on 26 Nov 2025.
Current net transaction value: $0.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001883105 Primary reporting owner

DM Trust Aggregator, LLC

Relationship: 10%+ Owner
Address: PO BOX 398, GRANTS PASS
Signature: /s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma, Manager
Signature date: 24 Apr 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

BROS transaction

Class B Common Stock

Other

Transaction value
Shares: -19,318
Change %: -0.09%
Price: $0.000000^*
Shares after: 20,579,218
Date: 22 Apr 2026
Ownership: Direct
Footnotes: F1

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

BROS transaction Derivative

Class A Common Units

Other

Transaction value
Shares: -27,341
Change %: -0.09%
Price: $0.000000^*
Shares after: 29,125,560
Date: 22 Apr 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 27,341
Exercise price
Footnotes: F1, F2, F3

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

On April 22, 2026, the Class A Common Units of Dutch Mafia, LLC ("Dutch Mafia") were recapitalized through a reverse unit split, which resulted in the cancellation without consideration of 33,022 shares of the Issuer's Class B Common Stock, in accordance with the limited liability company agreement of Dutch Mafia (the "Recapitalization"). As a result of the Recapitalization, the Class A Common Units of Dutch Mafia beneficially owned by DM Trust Aggregator, LLC were reduced by 27,341 units, and the shares of Class B Common Stock of the Issuer beneficially owned by DM Trust Aggregator, LLC were reduced by 19,318 shares.

Footnote F2

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

Footnote F3

In accordance with the limited liability company agreement of Dutch Mafia, Class A Common Units of Dutch Mafia are exchangeable for shares of Class A Common Stock of the Issuer on a one-for-one basis at the discretion of the holder, subject to certain exceptions, conditions and adjustments. Certain Class A Common Units of Dutch Mafia are paired with an equal number of shares of Class B Common Stock of the Issuer ("Paired Units"). Upon the exchange of Paired Units for Class A Common Stock of the Issuer, the associated shares of Class B Common Stock are surrendered to 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 the exchanges.