Dutch Bros stockholder proposes $2.17M share sale

The notice lists Morgan Stanley Smith Barney LLC as broker and records the shares as Founders Shares acquired from the issuer in 2018.

Rhea-AI Filing Summary

Dutch Bros Inc. (BROS) is named as issuer in a notice that DM Individual Aggregator, LLC, identified as a 10% stockholder, proposes to sell 50,709 common shares for an aggregate market value of $2,173,387.74; the approximate sale date is October 20, 2026. The shares are listed as Founders Shares acquired from the issuer on September 27, 2018, and Morgan Stanley Smith Barney LLC is listed as broker. Travis Mason Boersma signed the notice.

Key Figures

Common shares proposed for sale: 50,709 shares Aggregate market value: $2,173,387.74 Shares outstanding: 137,940,798 shares +2 more

5 metrics

Common shares proposed for sale 50,709 shares Approximate sale date: October 20, 2026

Aggregate market value $2,173,387.74 Shares listed for proposed sale

Shares outstanding 137,940,798 shares Issuer share count listed in the notice

Approximate sale date October 20, 2026 Proposed sale

Acquisition date September 27, 2018 Shares listed as Founders Shares acquired from the issuer

Key Terms

Rule 144, 10% Stockholder, Founders Shares

3 terms

Rule 144 regulatory

"definition of "person" in paragraph (a) of Rule 144"

Rule 144 is a U.S. securities regulation that sets conditions under which restricted or insider-held shares can be legally resold to the public, such as required holding periods, availability of public information, limits on how much can be sold at once, and certain filing requirements. For investors it matters because it determines when previously locked-up shares can enter the market — like a release valve that can increase supply, affect share price, and signal insider intent.

10% Stockholder financial

"10% Stockholder"

Founders Shares financial

"Founders Shares"

Founders shares are a special block of a company’s stock originally given to the people who started the business; they often carry extra voting power or favorable terms compared with regular shares. For investors, these shares matter because they concentrate control and influence how future funding, ownership dilution, and decision-making will play out—think of founders shares as the steering wheel that can steer a company’s direction even as more passengers (investors) climb aboard.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many BROS shares does DM Individual Aggregator, LLC propose to sell?

DM Individual Aggregator, LLC, identified as a 10% stockholder, listed 50,709 Dutch Bros common shares for a proposed sale, with an approximate sale date of October 20, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/20/2026 - 04:24 PM EDT Accepted by SEC EDGAR 10/20/2026 - 04:23 PM EDT Learn about SEC filing dates

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001883096
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	DUTCH BROS, INC.
SEC File Number	001-40798
Address of Issuer	1930 W. Rio Salado Pkwy Tempe ARIZONA 85281
Phone	8778992767
Name of Person for Whose Account the Securities are To Be Sold	DM INDIVIDUAL AGGREGATOR, LLC
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	10% Stockholder

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	50709	2173387.74	137940798	10/20/2026	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	09/27/2018	Founders Shares	Issuer			50709	09/27/2018	N/A

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks
Date of Notice	10/20/2026
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	02/19/2026
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ Travis Mason Boersma
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)