Boston Beer CLO granted RSUs, shares withheld for tax

Boston Beer’s Chief Legal Officer Tara L. Heath reported equity awards and related tax withholding on March 1, 2026.

Accepted by SEC EDGAR 03/03/2026 - 10:09 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Boston Beer’s Chief Legal Officer Tara L. Heath reported equity awards and related tax withholding on March 1, 2026. She received grants of 2,206 shares of Class A Common Stock as restricted stock units and 360 performance-based stock options under the company’s Employee Equity Incentive Plan.

To cover tax obligations from the vesting of 1,006 restricted stock units, 297 Class A shares were disposed of through share withholding at a price of $226.78 per share. After these transactions, she directly owned 13,999 Class A shares, including 11,012 shares of restricted stock subject to vesting conditions, and 720 stock options.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider HEATH TARA L.

Role Chief Legal Officer

Type	Security	Shares	Price	Value
Grant/Award	March 1, 2023 Stock Option	360	$0.00	$0.00
Exercise Price or Tax Liability	Class A Common	297	$226.78	$67K
Grant/Award	Class A Common	2,206	$0.00	$0.00

Holdings After Transaction: March 1, 2023 Stock Option — 720 contracts (Direct); Class A Common — 13,999 shares (Direct)

Footnotes (4)

1. F1. The Issuer "net withheld" the vesting of a percentage of shares to satisfy the tax obligations of the Reporting Person flowing from the vesting of Restricted Stock Units ("RSUs"). The Reporting Person had a total of 1,006 RSUs vest on March 1, 2026.
2. F2. Represents grants of Restricted Stock Units ("RSUs") under the Issuer's Restated Employee Equity Incentive Plan ("EEIP"). The details of these grants were disclosed in a Current Report on Form 8-K filed by the Issuer on February 17, 2026.
3. F3. The shares reported include 11,012 shares of restricted stock subject to vesting conditions.
4. F4. The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2023. In February 2025, the Compensation Committee determined that the performance criteria had been achieved. The options vest in three equal installments on March 1 in the years 2025-2027, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.

FAQ

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

What insider transactions did Boston Beer (SAM) Chief Legal Officer report?

Boston Beer’s Chief Legal Officer reported new equity awards and tax-related share withholding. She received 2,206 restricted stock unit shares and 360 stock options, while 297 Class A shares were withheld to satisfy tax obligations from vesting restricted stock units.

How many Boston Beer (SAM) shares does Tara L. Heath own after the Form 4?

After the reported transactions, Tara L. Heath directly owned 13,999 Class A Common shares. This total includes 11,012 shares of restricted stock that remain subject to vesting conditions, reflecting both vested and unvested equity held following the March 1, 2026 activity.

Were Boston Beer (SAM) shares sold on the market in this Form 4?

The Form 4 shows a tax-withholding disposition rather than an open-market sale. The issuer net withheld 297 Class A shares at $226.78 each to satisfy tax obligations arising from the vesting of restricted stock units on March 1, 2026.

What equity awards did Boston Beer (SAM) grant to its Chief Legal Officer?

Boston Beer granted 2,206 Class A Common shares as restricted stock units and 360 performance-based stock options. These awards were made under the company’s Restated Employee Equity Incentive Plan and follow performance criteria previously determined to have been achieved.

What performance-based stock options are reported in this Boston Beer (SAM) filing?

The filing references performance-based stock options originally granted on March 1, 2023. After performance criteria were confirmed in February 2025, the options vest in three equal installments on March 1 of 2025, 2026, and 2027, subject to continued employment and certain acceleration conditions.

How many restricted stock units of Boston Beer (SAM) vested on March 1, 2026?

A total of 1,006 restricted stock units vested for the Chief Legal Officer on March 1, 2026. To cover the resulting tax obligations, the issuer net withheld a portion of shares, disposing of 297 Class A shares through share withholding rather than a market sale.

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).

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^*

HEATH TARA L.

(Last) (First) (Middle)

C/O THE BOSTON BEER COMPANY, INC.

1 DESIGN CENTER PLACE, STE. 850

(Street)

BOSTON MA 02210

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BOSTON BEER CO INC [ SAM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Legal Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

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	03/01/2026		F(1)		297	D	$226.78	11,793	D
Class A Common	03/01/2026		A(2)		2,206	A	$0.00	13,999(3)	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
March 1, 2023 Stock Option	$323.8	03/01/2026		A		360		03/01/2025(4)	02/28/2033	Class A Common	1,080	$0.00	720	D

Explanation of Responses:

1. The Issuer "net withheld" the vesting of a percentage of shares to satisfy the tax obligations of the Reporting Person flowing from the vesting of Restricted Stock Units ("RSUs"). The Reporting Person had a total of 1,006 RSUs vest on March 1, 2026.

2. Represents grants of Restricted Stock Units ("RSUs") under the Issuer's Restated Employee Equity Incentive Plan ("EEIP"). The details of these grants were disclosed in a Current Report on Form 8-K filed by the Issuer on February 17, 2026.

3. The shares reported include 11,012 shares of restricted stock subject to vesting conditions.

4. The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2023. In February 2025, the Compensation Committee determined that the performance criteria had been achieved. The options vest in three equal installments on March 1 in the years 2025-2027, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.

Remarks:

	Michael G. Andrews under POA for Tara L. Heath	03/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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