SAM insider grant: 13,186 RSUs and options at $227.52

Rhea-AI Filing Summary

Boston Beer Company (SAM) reported an insider equity grant for its Chief Operating Officer. On 10/28/2025, the officer acquired 13,186 Class A shares via time-based RSUs at $0.00, bringing direct beneficial ownership to 46,888 shares. The RSUs vest in three tranches on January 1 of 2026–2028. The filing also shows a grant of 88,268 stock options with a $227.52 exercise price, vesting in three tranches on January 1 of 2026–2028 and expiring on 10/27/2035. The owned total includes 38,584 restricted shares subject to vesting.

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

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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^*

Hodges Philip A.

(Last) (First) (Middle)

C/O THE BOSTON BEER COMPANY, INC.

ONE DESIGN CENTER PLACE, SUITE 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 Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
10/28/2025

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(1)	10/28/2025		A		13,186	A	$0.00	46,888(2)	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
October 28, 2025 Stock Option	$227.52	10/28/2025		A		88,268		01/01/2026(3)	10/27/2035	Class A Common	88,268	$0.00	88,268	D

Explanation of Responses:

1. Represents a grant of a time-based RSUs under the Issuer's Employee Equity Incentive Plan. The RSUs will vest in three tranches on January 1 in each of the years 2026 through 2028, subject to the Reporting Person's continued employment with the Company on that date.

2. The shares reported include 38,584 shares of restricted stock subject to vesting conditions.

3. The time-based option vests in three tranches on January 1 in each of the years 2026 through 2028, provided that the Reporting Person remains employed by the Issuer on the applicable vesting dates.

Remarks:

	Michael G. Andrews under POA for the benefit of Philip A. Hodges	10/29/2025
	** 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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FAQ

What did SAM disclose in this Form 4?

An equity award to the COO: 13,186 RSUs and 88,268 stock options granted on 10/28/2025.

What is the exercise price and term of the options?

The options have a $227.52 exercise price and expire on 10/27/2035.

How do the RSUs and options vest?

Both vest in three tranches on January 1 of 2026, 2027, and 2028, subject to continued employment.

How many shares does the officer beneficially own after this grant?

Direct beneficial ownership is 46,888 shares after the reported transaction.

Are any of the owned shares subject to vesting conditions?

Yes. The total includes 38,584 shares of restricted stock subject to vesting.

Who is the reporting person and role at SAM?

The filing is for the Chief Operating Officer of Boston Beer Company.