Dutch Bros entities sell 266,000 and 142,023 shares

The underlying sales were carried out in multiple transactions at prices from $44.0000 to $44.2500 per share.

Available on EDGAR 10/30/2026 - 04:07 PM EDT Accepted by SEC EDGAR 10/30/2026 - 04:07 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Dutch Bros Inc. (BROS) reported that DM Trust Aggregator, LLC sold 266,000 Class A common shares and DM Individual Aggregator, LLC sold 142,023 shares on October 29, 2026. Both sales had a weighted average price of $44.0266 per share and were effected automatically under the respective entities’ Rule 10b5-1 trading plans adopted February 19, 2026.

Following the sales, DM Trust Aggregator, LLC reported 4,153,652 shares and DM Individual Aggregator, LLC reported 2,218,068 shares. Travis Boersma, Dutch Bros’ Executive Chairman of Board, is the manager of both entities and disclaims beneficial ownership except to the extent of any pecuniary interest.

Insider Trade Summary 10b5-1

Net Seller: 408,023 shares

Net Sell 2 txns

Insider Boersma Travis

Role Executive Chairman of Board

Sold 408,023 shs ($17.96M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock F1, F2, F3	266,000	$44.0266	$11.71M
Sale	Class A Common Stock F4, F2, F3	142,023	$44.0266	$6.25M

Holdings After Transaction: Class A Common Stock — 4,153,652 shares (Indirect, By DM Trust Aggregator, LLC); Class A Common Stock — 2,218,068 shares (Indirect, By DM Individual Aggregator, LLC)

Footnotes (4)

1. F1. As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Trust Aggregator, LLC on February 19, 2026.
2. F2. Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $44.0000 to $44.2500 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.
3. F3. The reporting person is the manager of DM Trust Aggregator, LLC and DM Individual Aggregator, LLC (the "DM Trusts"). Multiple members hold ownership interests in the DM Trusts, including the reporting person. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, if any, and the inclusion of the reported securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose.
4. F4. As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Individual Aggregator, LLC on February 19, 2026.

Key Figures

Shares sold by DM Trust Aggregator, LLC: 266,000 shares Weighted average sale price: $44.0266 per share Shares following transaction: 4,153,652 shares +3 more

6 metrics

Shares sold by DM Trust Aggregator, LLC 266,000 shares October 29, 2026

Weighted average sale price $44.0266 per share DM Trust Aggregator, LLC sale on October 29, 2026

Shares following transaction 4,153,652 shares DM Trust Aggregator, LLC, after the October 29, 2026 sale

Shares sold by DM Individual Aggregator, LLC 142,023 shares October 29, 2026

Weighted average sale price $44.0266 per share DM Individual Aggregator, LLC sale on October 29, 2026

Shares following transaction 2,218,068 shares DM Individual Aggregator, LLC, after the October 29, 2026 sale

Key Terms

Rule 10b5-1 trading plan, weighted average sale price, pecuniary interest

3 terms

Rule 10b5-1 trading plan regulatory

"effected automatically pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average sale price financial

"Represents the weighted average sale price"

pecuniary interest financial

"except to the extent of his pecuniary interest therein"

FAQ

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

How many BROS shares did the two entities sell?

DM Trust Aggregator, LLC sold 266,000 shares, and DM Individual Aggregator, LLC sold 142,023 shares on October 29, 2026. Both sales had a weighted average price of $44.0266 per share.

What price range did the BROS sales cover?

The shares were sold in multiple transactions at prices ranging from $44.0000 to $44.2500 per share, inclusive.

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

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Boersma Travis

(Last) (First) (Middle)

C/O DUTCH BROS INC.

1930 W RIO SALADO PKWY

(Street)

TEMPE ARIZONA 85281

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Dutch Bros Inc. [ BROS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman of Board

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/29/2026		S(1)		266,000	D	$44.0266(2)	4,153,652	I	By DM Trust Aggregator, LLC(3)
Class A Common Stock	10/29/2026		S(4)		142,023	D	$44.0266(2)	2,218,068	I	By DM Individual Aggregator, LLC(3)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Trust Aggregator, LLC on February 19, 2026.

2. Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $44.0000 to $44.2500 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above.

3. The reporting person is the manager of DM Trust Aggregator, LLC and DM Individual Aggregator, LLC (the "DM Trusts"). Multiple members hold ownership interests in the DM Trusts, including the reporting person. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, if any, and the inclusion of the reported securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose.

4. As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Individual Aggregator, LLC on February 19, 2026.

Remarks:

	/s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma	10/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)