Philip A. Hodges - Mar 1, 2025 Form 4 Insider Report for BOSTON BEER CO INC (SAM)

Role: Chief Supply Chain Officer
Signature: Michael G. Andrews under POA for the benefit of Philip A. Hodges
Stock symbol: SAM
Transactions as of: Mar 1, 2025
Transactions value $: -$108,234
Form type: 4
Date filed: 3/4/2025, 04:02 PM
Previous filing: Mar 4, 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SAM	Class A Common	Tax liability	-$108K	-444	-2.73%	$243.77	15.8K	Mar 1, 2025	Direct	F1
transaction	SAM	Class A Common	Award	$0	+4.1K	+25.96%	$0.00	19.9K	Mar 1, 2025	Direct	F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SAM	May 24, 2023 Stock Option	Award	$0	+3.32K	+100%	$0.00	6.64K	Mar 1, 2025	Class A Common	13.3K	$330.68	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
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 1,512 RSUs vest on March 1, 2025.
F2	Represents a grant of Performance-Based RSUs under the Issuer's Restated Employee Equity Incentive Plan. The details of these grants were disclosed in a Current Report on Form 8-K filed by the Issuer on February 11, 2025.
F3	The shares reported include 16,201 shares of restricted stock subject to vesting conditions.
F4	The Time-Based Stock Options were granted pursuant to the Issuer's Restated Employee Equity Incentive Plan ("EEIP") on May 24, 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 certain corresponding dates, and subject to accelerated vesting in certain situations.