SAM Form 144 — Insider Plans Sale of 600 Class A Shares via Morgan Stanley

Rhea-AI Filing Summary

Boston Beer Company filed a Form 144 reporting a proposed sale of 600 Class A Common shares through Morgan Stanley Smith Barney LLC on the NYSE, with an aggregate market value of 131,506.68 and 8,820,623 shares outstanding. The notice lists an approximate sale date of 08/08/2025.

The shares to be sold were acquired as restricted stock vesting under a registered plan on multiple dates: 86 shares on 03/01/2022, 201 on 03/01/2023, 27 on 01/01/2023, 244 on 03/01/2024 and 42 on 03/01/2025. The filing reports Nothing to Report for securities sold in the past three months and includes the signer’s representation that they do not possess undisclosed material adverse information about the issuer.

Insights

Securities Analyst

TL;DR Routine Form 144: proposed sale of 600 shares, small relative to outstanding shares; limited investor impact.

The filing discloses a planned sale of 600 Class A Common shares via Morgan Stanley Smith Barney with an aggregate market value of 131,506.68. Against the reported 8,820,623 shares outstanding, the sale represents a very small fraction of the float (approximately 0.0068% of outstanding shares). All reported shares were acquired as restricted stock vesting under a registered plan on specific dates, and the filer reports no securities sold in the past three months. Based solely on the filing, this appears to be a routine insider notice with limited material impact.

Corporate Governance Expert

TL;DR Disclosure aligns with Rule 144 requirements; sale stems from vested restricted awards and includes standard attestation about undisclosed material information.

The notice identifies the broker, exchange, approximate sale date (08/08/2025) and itemized acquisition history showing restricted stock vesting across 2022–2025. The filer affirms they are unaware of any undisclosed material adverse information. There are no reported sales in the prior three months. From a governance perspective, the filing provides the expected transaction detail and attestation; it does not, by itself, signal governance or disclosure concerns.

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

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

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

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
Class A Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	600	131506.68	8820623	08/08/2025	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 *
Class A Common	03/01/2022	Restricted stock vesting under a registered plan	Issuer			86	03/01/2022	Not Applicable
Class A Common	03/01/2025	Restricted stock vesting under a registered plan	Issuer			42	03/01/2025	Not Applicable
Class A Common	03/01/2023	Restricted stock vesting under a registered plan	Issuer			201	03/01/2023	Not Applicable
Class A Common	03/01/2024	Restricted stock vesting under a registered plan	Issuer			244	03/01/2024	Not Applicable
Class A Common	01/01/2023	Restricted stock vesting under a registered plan	Issuer			27	01/01/2023	Not Applicable

* 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

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

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Boston Beer (SAM) report in this Form 144?

The Form 144 reports a proposed sale of 600 Class A Common shares through Morgan Stanley Smith Barney LLC with an aggregate market value of 131,506.68 and an approximate sale date of 08/08/2025 on the NYSE.

How many shares outstanding does the filing list for the issuer?

The filing lists 8,820,623 shares outstanding for the issuer.

How were the shares being sold acquired?

The shares were acquired as restricted stock vesting under a registered plan on these dates and amounts: 03/01/2022 – 86, 03/01/2023 – 201, 01/01/2023 – 27, 03/01/2024 – 244, 03/01/2025 – 42.

Were there any other securities sold in the past three months by this person?

No. The filing states Nothing to Report for securities sold during the past three months.

What attestation does the filer make in the Form 144?

The filer represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.