STOCK TITAN

$700K bonus on the table as Boston Beer (NYSE: SAM) shifts CFO roles

(Moderate)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

BOSTON BEER CO INC (SAM) disclosed leadership changes in its finance organization. On August 17, 2026, Diego Reynoso notified the company that he is stepping down as Treasurer and Chief Financial Officer; the company states his departure is not related to any disagreement on operations, policies, or practices. Reynoso will remain through September 30, 2026 to support an orderly transition, and the Board has begun a formal search for a permanent replacement.

On August 20, 2026, the Board appointed Matthew D. Murphy, age 57, as interim Treasurer and Chief Financial Officer effective September 15, 2026, while he continues as Chief Accounting Officer and Vice President of Finance. Murphy has served as Chief Accounting Officer since 2015, Vice President of Finance since 2023, and previously acted as interim CFO and Treasurer from March to September 2023. An Offer Letter approved by the Compensation Committee on August 20, 2026 keeps his annual base salary at $419,359.41, with a bonus target of 50% of base salary at 100% “Bonus Scale” payout and a target annual equity value of $250,000. He is also eligible for an interim CFO transition cash bonus of up to $700,000, payable in four installments, contingent on continued employment as detailed in the Offer Letter.

Positive

  • None.

Negative

  • CFO resignation — Diego Reynoso is stepping down as Treasurer and Chief Financial Officer, creating a key leadership transition in the finance function, although he will remain through September 30, 2026 to support an orderly handover.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Annual base salary $419,359.41 Annual base salary for Matthew D. Murphy as interim CFO, CAO and Treasurer
Bonus target as percentage of base salary 50% Bonus at 100% payout level on the Bonus Scale for Matthew D. Murphy
Target annual equity value $250,000 Target annual value of equity awards for Matthew D. Murphy
Interim CFO transition cash bonus $700,000 Maximum aggregate cash bonus for Matthew D. Murphy, payable in four installments
Interim CFO appointment effective date September 15, 2026 Effective date for Matthew D. Murphy as interim Treasurer and Chief Financial Officer
Diego Reynoso transition end date September 30, 2026 Date through which Diego Reynoso will remain with the company
Interim Chief Financial Officer financial
"appointed Matthew D. Murphy ... to serve as interim Treasurer and Chief Financial Officer"
An interim chief financial officer is a temporary leader responsible for managing a company's financial activities, such as budgeting, financial planning, and reporting, during a transitional period. Think of it as filling in for a key manager until a permanent replacement is found. For investors, this role is important because it ensures financial stability and clear guidance during times of change or uncertainty.
Long-Term Equity program financial
"eligible to receive equity through the Company’s Long-Term Equity program"
Bonus Scale financial
"bonus potential will be determined by the Company’s performance against its “Bonus Scale”"
Item 404(a) of Regulation S-K regulatory
"not a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K"
Interim CFO Transition Bonus financial
"outlined under the heading “Interim CFO Transition Bonus” in the Offer Letter"

FAQ

What executive change did SAM announce in this 8-K?

The company reported that Diego Reynoso is stepping down as Treasurer and Chief Financial Officer. He will remain with the company through September 30, 2026 to support an orderly transition while the Board conducts a formal search for a permanent successor.

Who will serve as interim CFO of SAM and when does it take effect?

Matthew D. Murphy was appointed interim Treasurer and Chief Financial Officer, effective September 15, 2026. He currently serves as Chief Accounting Officer and Vice President of Finance and previously held the interim CFO and Treasurer roles from March 2023 to September 2023.

How is interim CFO Matthew Murphy of SAM being compensated?

Matthew Murphy’s annual base salary remains $419,359.41. At a 100% payout on the company’s “Bonus Scale,” his annual bonus target is 50% of base salary, and his target annual equity award value is $250,000, all unchanged from his prior role.

What additional bonus opportunity does SAM’s interim CFO receive?

The company agreed to grant Matthew Murphy a cash bonus of up to $700,000, payable in four installments from December 31, 2026 through March 1, 2028. Each installment is contingent upon his continued employment, subject to the terms in the Offer Letter.

Are there any special arrangements or family relationships for SAM’s interim CFO role?

The company reports there is no arrangement or understanding with any person under which Matthew Murphy was elected interim CFO and Treasurer, no family relationships with any director or executive officer, and no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.

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

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Learn about SEC filing dates
0000949870false00009498702026-08-172026-08-17

 

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

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 17, 2026

 

 

The Boston Beer Company, Inc.

(Exact name of Registrant as Specified in Its Charter)

 

 

Massachusetts

001-14092

04-3284048

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

One Design Center Place

Suite 850

 

Boston, Massachusetts

 

02210

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (617) 368-5000

 

 

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

Class A Common Stock. $0.01 par value

 

SAM

 

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 17, 2026, Diego Reynoso informed the Company that he was stepping down as the Company’s Treasurer and Chief Financial Officer. His departure from the Company is not related to any disagreement with the Company on any matter relating to its operations, policies, or practices. To support an orderly transition, Mr. Reynoso will remain at the Company through September 30, 2026. The Company’s Board of Directors has launched a formal search process to identify Mr. Reynoso’s permanent replacement.

 

On August 20, 2026, the Company’s Board of Directors approved the appointment of Matthew D. Murphy, age 57, to serve as interim Treasurer and Chief Financial Officer, effective September 15, 2026, and until such time as the Company appoints Mr. Reynoso’s permanent successor. Mr. Murphy is currently the Chief Accounting Officer and Vice President of Finance of the Company. He has held the titles of Chief Accounting Officer since 2015 and Vice President of Finance since 2023. He also previously held the position of Interim Treasurer and Chief Financial Officer from March 2023 to September 2023. Prior to his current role, he was the Company’s Corporate Controller from September 2006 to August 2015.

 

On August 20, 2026, Mr. Murphy and the Company entered into an Offer Letter outlining the details of Mr. Murphy’s compensation in his new role of Chief Accounting Officer, Interim Chief Financial Officer & Interim Treasurer. A copy of the Offer Letter is attached hereto as Exhibit 10.1. The terms of the Offer Letter were approved by the Compensation Committee on August 20, 2026.

 

Mr. Murphy’s annual base salary will be $419,359.41, unchanged from his previous base salary. His bonus potential will be determined by the Company’s performance against its “Bonus Scale”, which is described in the Form 8-K filed by the Company on February 17, 2026. If the Company achieves the 100% payout level on the Scale, Mr. Murphy’s bonus will be 50% of his base salary, no change from his prior bonus target.

 

Mr. Murphy will continue to be eligible to receive equity through the Company’s Long-Term Equity program, subject to approval by the Board of Directors. While equity is not guaranteed, the target annual value of Mr. Murphy’s equity awards is $250,000, no change from his previous target.

 

Additionally, the Company agreed to grant Mr. Murphy a cash bonus of up to $700,000, payable in four installments, the first of which will be payable on December 31, 2026, and the fourth on March 1, 2028, with payment of each installment contingent upon continued employment with the Company, except as otherwise provided in the Offer Letter. The full details of the cash bonus are outlined under the heading “Interim CFO Transition Bonus” in the Offer Letter.

 

There is no arrangement or understanding with any person pursuant to which Mr. Murphy is being elected as Interim Chief Financial Officer & Interim Treasurer. There are no family relationships between Mr. Murphy and any director or executive officer of the Company, and he is not a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

The following exhibits are filed as part of this report:

Exhibit No.

Description

10.1

Offer Letter to Matthew D. Murphy, Chief Accounting Officer, Interim Chief Financial Officer & Interim Treasurer, dated August 20, 2026

104

Cover Page Interactive Data File (embedded within Inline XBRL document)

 


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

The Boston Beer Company, Inc.

 

 

 

 

Date:

August 20, 2026

By:

/s/ C. James Koch

 

 

 

Name: C. James Koch
Title: Chairman, President & CEO

 


Filing Exhibits & Attachments

2 documents