Welcome to our dedicated page for Dutch Bros SEC filings (Ticker: BROS), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Dutch Bros Inc. filings document the public-company disclosures of a Delaware corporation operating and franchising drive-thru beverage shops. Form 8-K reports primarily furnish quarterly and annual financial results, Regulation FD disclosures and related press-release exhibits covering revenue, same shop sales, transaction trends, shop openings, company-operated shop performance and adjusted profitability measures.
The company’s proxy materials cover stockholder voting matters, board and committee governance, executive compensation, equity awards and related ownership disclosures. Together, the filing record reflects the company’s operating model across company-operated shops and franchising, its capital and governance framework, and recurring risk and performance topics tied to scaling a quick-service beverage brand.
Dutch Bros Inc. director Stephen Gillett reported an acquisition of shares through a restricted stock unit (RSU) conversion. On February 20, 2026, 445 RSUs were exercised or converted into 445 shares of Class A Common Stock, bringing his direct Class A holdings to 18,063 shares.
Each RSU represents a contingent right to receive one Class A share. The related RSU award vests in four 25% installments on August 20, 2025, November 20, 2025, February 20, 2026, and the earlier of May 20, 2026 or the company’s 2026 annual stockholder meeting.
Dutch Bros Inc. director Gerard Johan Hart reported acquiring shares through an equity award. On February 20, 2026, he exercised 445 restricted stock units, which converted into 445 shares of Class A Common Stock at a price of $0.00 per share.
Following the transaction, he directly held 3,017 shares of Class A Common Stock and 444 restricted stock units. Each restricted stock unit represents a right to receive one Class A share. The reported RSU award vests in four 25% installments tied to dates in 2025 and 2026, including the issuer's 2026 annual stockholder meeting.
Dutch Bros Inc. director Todd Allan Penegor reported an equity award-related transaction. On February 20, 2026, he exercised or converted 445 Restricted Stock Units at a price of $0.00 per unit, acquiring 445 shares of Class A Common Stock.
Following the transaction, Penegor directly owned 444 Restricted Stock Units and 2,914 shares of Class A Common Stock. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock, with the award vesting in four 25% installments between August 20, 2025 and May 20, 2026 or the 2026 annual stockholder meeting.
Dutch Bros Inc. received an updated Schedule 13G/A (Amendment No. 7) from Travis Boersma and related entities regarding ownership of its Class A common stock. The filing shows that Travis Boersma beneficially owns 48,226,099 shares, representing 27.5% of the class, with sole voting and dispositive power over these shares.
Trust Aggregator, LLC reports beneficial ownership of 29,168,511 shares, or 18.7% of the class, while Individual Aggregator, LLC reports 18,343,828 shares, or 12.6%. DMI Holdco, LLC reports 713,760 shares, or 0.6%. Each reporting person indicates sole voting and dispositive power over its reported shares.
The filing identifies Travis Boersma, Trust Aggregator, LLC, Individual Aggregator, LLC, and DMI Holdco, LLC collectively as the reporting persons for Dutch Bros Inc.’s Class A common stock, with additional ownership details referenced in Exhibit 99.1.
Dutch Bros Inc. filed its annual report describing a fast-growing drive-thru beverage chain focused on coffee, energy drinks, and personalized service. As of December 31, 2025, it operated 1,136 shops across 25 states, including 811 company-operated and 325 franchised locations.
The company highlights its Dutch Rewards app, which accounted for about 72% of 2025 transactions, and its 2024 launch of order ahead, now in most shops, to boost speed and convenience. Coffee represents roughly half of sales, with Dutch Bros Rebel energy drinks around a quarter.
Dutch Bros reports about 32,000 employees across the system and emphasizes internal promotion, training, and benefits to support expansion. Key risks include shifting consumer preferences, rising input and labor costs, heavy Western U.S. concentration, supply chain disruptions, and dependence on franchise partners and its controlling Co-Founder.
Dutch Bros Inc. reported strong growth for the fourth quarter and full year 2025. Fourth quarter revenue rose 29.4% to $443.6 million, driven by 55 new shops and systemwide same shop sales growth of 7.7%, including 5.4% transaction growth. Net income for the quarter increased to $29.2 million from $6.4 million, while adjusted EBITDA grew 48.8% to $72.6 million.
For full year 2025, revenue grew 27.9% to $1.64 billion and net income rose to $117.3 million from $66.5 million. Adjusted EBITDA increased 31.4% to $302.6 million. The company opened 154 new shops, reaching 1,136 locations and delivering record system AUVs of $2.1 million.
For 2026, Dutch Bros projects revenue of $2.0–$2.03 billion, same shop sales growth of 3–5%, adjusted EBITDA of $355–$365 million, capital expenditures of $270–$290 million, and at least 181 total system shop openings, signaling continued expansion and investment.
Dutch Bros Inc. (BROS) reported insider stock sales by its executive chairman and 10% owner, Travis Boersma, through entities DM Trust Aggregator, LLC and DM Individual Aggregator, LLC. On November 24–25, 2025, these entities sold multiple blocks of Class A common stock in open-market transactions.
The reported sales include transactions such as 427,572 shares at a weighted average price of $55.2716 per share through DM Trust Aggregator, LLC and 268,897 shares at a weighted average price of $55.2716 per share through DM Individual Aggregator, LLC, alongside other sales at prices ranging from about $52.95 to $57.42. Following the reported trades, DM Trust Aggregator, LLC held 15,610 shares and DM Individual Aggregator, LLC held 9,817 shares of Class A common stock.
The filing notes that all of these transactions were executed automatically under pre-arranged Rule 10b5-1 trading plans adopted on November 22, 2024.
Dutch Bros Inc. (BROS) reported insider share sales by a director and 10% owner. The Form 4 shows multiple open-market sales of Class A common stock on 11/24/2025 and 11/25/2025, executed under an automatic Rule 10b5-1 trading plan adopted by DM Individual Aggregator, LLC on November 22, 2024. Reported transactions include, for example, 268,897 shares sold at a weighted average price of $55.2716 and 119,807 shares sold at a weighted average price of $57.4156, with each line representing multiple trades within stated price ranges. After these sales, the reporting person directly beneficially owns 9,817 shares of Dutch Bros Class A common stock.
Dutch Bros Inc. (BROS) insider reports automatic stock sales under a Rule 10b5-1 plan. A reporting person classified as a 10% owner filed a Form 4 for multiple sales of Class A common stock on November 24–25, 2025. The trades were executed pursuant to a pre-arranged Rule 10b5-1 trading plan adopted by DM Trust Aggregator, LLC on November 22, 2024.
The filing lists several sale transactions at weighted average prices ranging from $52.9467 to $57.4156 per share. After these sales, the reporting person directly beneficially owns 15,610 shares of Dutch Bros Class A common stock.
A shareholder of BROS filed a Form 144 notice to sell 648,089 shares of common stock through Morgan Stanley Smith Barney LLC, with an aggregate market value of $34,582,029.04, on or about 11/25/2025 on the NYSE. Shares outstanding were 127,031,344 at the time of the notice; this is a baseline figure, not the amount being sold.
The shares to be sold are founder shares originally acquired from the issuer on 09/27/2018. Over the past three months, related 10b5-1 sales included 317,125 common shares for DM Individual Aggregator, LLC for gross proceeds of $16,936,332.12 and 504,259 common shares for DM Trust Aggregator, LLC for gross proceeds of $26,930,382.50.