Dutch Bros CEO reports RSU vesting and tax share sale

Dutch Bros Inc. CEO and President Christine Barone reported equity award activity involving restricted stock units (RSUs) and Class A Common Stock.

Rhea-AI Filing Summary

Dutch Bros Inc. CEO and President Christine Barone reported equity award activity involving restricted stock units (RSUs) and Class A Common Stock. On February 20, 2026, she exercised or converted 6,095 RSUs, each representing a right to receive one share of Class A Common Stock, resulting in 6,095 Class A shares acquired at a stated price of $0.00 per share.

Following these transactions, her direct holdings were 12,190 RSUs and 48,126 Class A shares before a tax-related share disposition. To cover tax liability, 1,682 Class A shares were disposed of at $48.81 per share in a tax-withholding transaction, leaving 46,444 Class A shares directly held. The RSU award vests in three equal installments of 33.33% on February 20 of 2026, 2027, and 2028.

Insider Trade Summary

6,095 shares exercised/converted

Exercise 3 txns

Insider Barone Christine

Role CEO and President

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	6,095	$0.00	$0.00
Exercise	Class A Common Stock	6,095	$0.00	$0.00
Exercise Price or Tax Liability	Class A Common Stock	1,682	$48.81	$82K

Holdings After Transaction: Restricted Stock Units — 12,190 contracts (Direct); Class A Common Stock — 46,444 shares (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.
2. F2. The reporting person received an award of restricted stock units, 33.33% of which will vest on each of February 20, 2026, February 20, 2027, and February 20, 2028.

FAQ

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

What did Dutch Bros (BROS) CEO Christine Barone report in this Form 4?

Christine Barone reported exercising 6,095 restricted stock units into 6,095 shares of Class A Common Stock and a related tax-withholding share disposition. These transactions reflect equity compensation activity rather than an open-market purchase or sale program.

How many Dutch Bros (BROS) RSUs and shares does Christine Barone hold after these transactions?

After the reported transactions, Christine Barone directly holds 12,190 restricted stock units and 46,444 shares of Class A Common Stock. These figures come from the post-transaction ownership totals disclosed for the derivative and non-derivative securities.

Was the Dutch Bros (BROS) insider share disposal an open-market sale?

No. The 1,682-share disposal was coded “F,” indicating a tax-withholding transaction. Shares were delivered at $48.81 per share to satisfy tax obligations tied to equity compensation, not sold in a discretionary open-market trade.

What is the vesting schedule for Christine Barone’s Dutch Bros (BROS) RSU award?

The RSU award vests in three equal installments of 33.33% on February 20, 2026, February 20, 2027, and February 20, 2028. Each vested restricted stock unit converts into one share of Dutch Bros Class A Common Stock.

What does each Dutch Bros (BROS) restricted stock unit represent in this filing?

Each restricted stock unit represents a contingent right to receive one share of Dutch Bros Class A Common Stock. When RSUs vest and are settled, the holder receives an equivalent number of common shares, subject to applicable tax withholding.

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

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Accepted by SEC EDGAR 02/24/2026 - 05:53 PM Learn about SEC filing dates

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).

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^*

Barone Christine

(Last) (First) (Middle)

C/O DUTCH BROS INC.

1930 W RIO SALADO PKWY

(Street)

TEMPE AZ 85281

(City) (State) (Zip)

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		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and President

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

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

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

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

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	02/20/2026		M		6,095	A	(1)	48,126	D
Class A Common Stock	02/20/2026		F		1,682	D	$48.81	46,444	D

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
Restricted Stock Units	(1)	02/20/2026		M			6,095	(2)	(2)	Class A Common Stock	6,095	$0	12,190	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock.

2. The reporting person received an award of restricted stock units, 33.33% of which will vest on each of February 20, 2026, February 20, 2027, and February 20, 2028.

Remarks:

	/s/ Betsy Judd, Attorney-in-Fact for Christine Barone	02/24/2026
	** 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).
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