Boston Beer (NYSE: SAM) CAO reports new equity grants and tax share disposition

Rhea-AI Filing Summary

Boston Beer Company’s CAO & VP of Finance, Matthew Donal Murphy, reported multiple equity transactions dated March 1, 2026. He received grants of a 257-share March 1, 2023 performance-based stock option and a 986-share May 15, 2023 time-based stock option, both at an exercise price of $0.00 under the Employee Equity Incentive Plan.

He also acquired 1,764 shares of Class A Common as an equity award and disposed of 193 shares of Class A Common at $226.78 per share to cover tax or exercise obligations. Footnotes explain that performance-based options tied to revenue growth targets were certified as achieved in February 2025 and will vest in three equal installments from 2025–2027, while separate time-based options vest in four equal installments from 2024–2027, in each case contingent on continued employment.

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

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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^*

Murphy Matthew Donal

(Last) (First) (Middle)

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)
	CAO & VP of Finance

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		193	D	$226.78	5,222	D
Class A Common	03/01/2026		A(1)		1,764	A	$0.00	6,986(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
March 1, 2023 Stock Option	$323.8	03/01/2026		A		257		03/01/2025(3)	02/28/2033	Class A Common Stock	771	$0.00	514	D
May 15, 2023 Stock Option	$308.14	03/01/2026		A		986		03/01/2024(4)	05/14/2023	Class A Common Stock	3,944	$0.00	2,958	D

Explanation of Responses:

1. Represents grants of Restricted Stock Units ("RSUs") under the Issuer's Restated Employee Equity Incentive Plan ("EEIP").

2. The shares reported include 3,763 shares of restricted stock subject to vesting conditions. A total of 650 RSUs and 83 investment shares vested on March 1, 2026.

3. The Performance-Based Stock Options were granted pursuant to the Issuer's Employee Equity Incentive Plan ("EEIP") on March 1, 2023. The extent to which the options were exercisable was dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2024 over Fiscal Year 2022. In February 2025, the Compensation Committee determined that the performance criteria had been achieved, and as such the options will vest in three equal installments on March 1 in the years 2025-2027, contingent on the Reporting Person's continued employment with the Issuer on the applicable vesting dates.

4. The Time-Based Stock Option was granted pursuant to the Issuer's EEIP on May 15, 2023. The options vest in four equal installments on March 1 in the years 2024-2027, 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 the benefit of Matthew D. Murphy	03/03/2026
	** Signature of Reporting Person	Date
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FAQ

What insider activity did Boston Beer (SAM) report for Matthew Donal Murphy?

Boston Beer reported that CAO & VP of Finance Matthew Donal Murphy received multiple equity awards and a tax-related share disposition on March 1, 2026. These included stock option grants and Class A Common awards under the company’s Employee Equity Incentive Plan.

How many stock options did the Boston Beer (SAM) CAO receive in this Form 4?

Matthew Donal Murphy received a 257-share performance-based stock option granted March 1, 2023 and a 986-share time-based stock option granted May 15, 2023. Both option grants were reported at an exercise price of $0.00 per share under Boston Beer’s equity incentive plan.

What Class A Common share transactions were disclosed for Boston Beer (SAM) CAO?

Murphy acquired 1,764 shares of Boston Beer Class A Common as an equity award and disposed of 193 shares at $226.78 per share. The disposition is described as a payment of exercise price or tax liability by delivering securities rather than an open-market sale.

How do the performance-based stock options for Boston Beer (SAM) CAO vest?

The performance-based stock options were granted March 1, 2023, tied to compounded annual net revenue growth from fiscal 2022 to 2024. After the Compensation Committee determined criteria were achieved in February 2025, the options became scheduled to vest in three equal installments from 2025 through 2027.

What are the vesting terms for the time-based stock options at Boston Beer (SAM)?

The time-based stock option granted May 15, 2023 vests in four equal installments on March 1 of 2024, 2025, 2026, and 2027. Vesting requires that Matthew Donal Murphy remain employed with Boston Beer on each vesting date, with potential accelerated vesting in certain situations.

What does the Form 4 say about restricted stock and RSUs for Boston Beer (SAM) CAO?

A footnote states the reported awards include grants of Restricted Stock Units under Boston Beer’s Restated Employee Equity Incentive Plan. It also notes the total holdings include 3,763 restricted shares subject to vesting, and that 650 RSUs and 83 investment shares vested on March 1, 2026.