Reverse split trims Dutch Bros (NYSE: BROS) insider partnership stake
Rhea-AI Filing Summary
DM Individual Aggregator, LLC, a major Dutch Bros Inc. holder, reported an internal restructuring transaction on Class A Common Units and Class B Common Stock tied to Dutch Mafia, LLC.
On April 22, 2026, Dutch Mafia Class A Common Units were recapitalized through a reverse unit split. This recapitalization canceled 33,022 shares of Dutch Bros Class B Common Stock without consideration and reduced the units and shares beneficially owned by DM Individual Aggregator, LLC.
Following the change, the reporting person held 14,143,857 shares of Class B Common Stock and 18,316,816 Class A Common Units. The units are exchangeable one-for-one into Class A Common Stock, and certain units are paired with an equal number of Class B shares that are surrendered and canceled upon exchange.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 13,277 shares
Net Sell
2 txns
Insider
DM Individual Aggregator, LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class A Common Units | 17,195 | $0.00 | $0.00 |
| Other | Class B Common Stock | 13,277 | $0.00 | $0.00 |
Holdings After Transaction:
Class A Common Units — 18,316,816 shares (Direct);
Class B Common Stock — 14,143,857 shares (Direct)
Footnotes (3)
- 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 Individual Aggregator, LLC were reduced by 17,195 units, and the shares of Class B Common Stock of the Issuer beneficially owned by DM Individual Aggregator, LLC were reduced by 13,277 shares.
- F2. Represents Class A Common Units of Dutch Mafia, the operating company of the Issuer.
- 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.
Key Figures
Class B shares canceled overall: 33,022 shares
Class B shares reduced for holder: 13,277 shares
Class A units reduced for holder: 17,195 units
+3 more
6 metrics
Class B shares canceled overall
33,022 shares
Dutch Bros Class B Common Stock canceled without consideration in recapitalization
Class B shares reduced for holder
13,277 shares
Decrease in Dutch Bros Class B shares beneficially owned by DM Individual Aggregator, LLC
Class A units reduced for holder
17,195 units
Decrease in Dutch Mafia Class A Common Units for DM Individual Aggregator, LLC
Class B shares after transaction
14,143,857 shares
Dutch Bros Class B Common Stock held following the restructuring
Class A units after transaction
18,316,816 units
Dutch Mafia Class A Common Units held following the restructuring
Restructuring share impact
30,472 equity interests
Total restructuringShares flagged across transactions in transactionSummary
Key Terms
reverse unit split, recapitalized, Class A Common Units, Paired Units, +1 more
5 terms
reverse unit split financial
"Class A Common Units of Dutch Mafia, LLC were recapitalized through a reverse unit split"
recapitalized financial
"the Class A Common Units of Dutch Mafia, LLC were recapitalized through a reverse unit split"
Class A Common Units financial
"the Class A Common Units of Dutch Mafia beneficially owned by DM Individual Aggregator, LLC were reduced"
Paired Units financial
"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")"
beneficially owned financial
"the shares of Class B Common Stock of the Issuer beneficially owned by DM Individual Aggregator, LLC were reduced"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider activity did DM Individual Aggregator, LLC report for Dutch Bros (BROS)?
DM Individual Aggregator, LLC reported an internal restructuring on April 22, 2026. A reverse unit split at Dutch Mafia, LLC canceled 33,022 Dutch Bros Class B shares, reducing the reporting person’s holdings of both Class B shares and Class A Common Units.
What happened to Dutch Mafia Class A Common Units held by DM Individual Aggregator, LLC?
As part of the recapitalization, DM Individual Aggregator, LLC’s Dutch Mafia Class A Common Units decreased by 17,195 units. These units represent interests in Dutch Mafia, the Dutch Bros operating company, and are exchangeable one-for-one into Dutch Bros Class A Common Stock, subject to conditions.
What are Dutch Mafia Class A Common Units in relation to Dutch Bros (BROS)?
Dutch Mafia Class A Common Units are equity interests in Dutch Mafia, the operating company of Dutch Bros. They are exchangeable one-for-one into Dutch Bros Class A Common Stock, subject to certain exceptions, conditions, and adjustments specified in the Dutch Mafia limited liability company agreement.
What are Paired Units mentioned in the Dutch Bros insider filing?
Paired Units are Dutch Mafia Class A Common Units paired with an equal number of Dutch Bros Class B shares. When Paired Units are exchanged for Class A Common Stock, the associated Class B shares are surrendered to Dutch Bros and canceled, eliminating those Class B shares from circulation.
What were DM Individual Aggregator, LLC’s holdings after the Dutch Bros recapitalization?
After the recapitalization, DM Individual Aggregator, LLC directly held 14,143,857 shares of Dutch Bros Class B Common Stock and 18,316,816 Dutch Mafia Class A Common Units. These holdings reflect the post-transaction balances reported in the Form 4 insider filing.