Travis Boersma - 24 Jan 2024 Form 4 Insider Report for Dutch Bros Inc. (BROS)

Role: Executive Chairman of Board, Director, 10%+ Owner
Signature: /s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma
Issuer symbol: BROS
Transactions as of: 24 Jan 2024
Net transactions value: $0
Form type: 4
Filing time: 25 Jan 2024, 21:40:39 UTC
Previous filing: 02 Jan 2024
Next filing: 26 Feb 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BROS	Class A Common Stock	Conversion of derivative security	$0	+324,577	+15%	$0.000000	2,514,241	24 Jan 2024	By DM Trust Aggregator, LLC	F1
transaction	BROS	Class A Common Stock	Conversion of derivative security	$0	+233,333	+17%	$0.000000	1,581,186	24 Jan 2024	By DM Individual Aggregator, LLC	F1
transaction	BROS	Class B Common Stock	Conversion of derivative security	$0	-324,577	-0.88%	$0.000000	36,458,141	24 Jan 2024	By DM Trust Aggregator, LLC	F1
transaction	BROS	Class B Common Stock	Conversion of derivative security	$0	-233,333	-1%	$0.000000	22,899,005	24 Jan 2024	By DM Individual Aggregator, LLC	F1
holding	BROS	Class B Common Stock						714,080	24 Jan 2024	By DMI Holdco LLC

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

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	BROS	Class A Common Units	Conversion of derivative security	$0	-324,577	-0.88%	$0.000000	36,458,141	24 Jan 2024	Class A Common Stock	324,577	By DM Trust Aggregator, LLC	F1, F2
transaction	BROS	Class A Common Units	Conversion of derivative security	$0	-233,333	-1%	$0.000000	22,899,005	24 Jan 2024	Class A Common Stock	233,333	By DM Individual Aggregator, LLC	F1, F2
holding	BROS	Class A Common Units						714,080	24 Jan 2024	Class A Common Stock	714,080	By DMI Holdco LLC	F1, F2

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

Explanation of Responses:

Id	Content
F1	Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Dutch Mafia, LLC ("Dutch Mafia"), dated September 14, 2021, Class A Common Units of Dutch Mafia, together with an equal number of shares of Class B Common Stock of the Issuer are exchangeable for shares of Class A Common Stock on a one-for-one basis at the discretion of the holder, subject to certain exceptions, conditions and adjustments. Upon such exchange, the associated shares of Class B Common Stock are surrendered and canceled by the Issuer. The Class A Common Units of Dutch Mafia and the Class B Common Stock of the Issuer do not have an expiration date and the holders thereof are not required to pay an exercise price in connection with exchanges.
F2	Represents Class A Common Units of Dutch Mafia.

Content

Pursuant to the Third Amended and Restated Limited Liability Company Agreement of Dutch Mafia, LLC ("Dutch Mafia"), dated September 14, 2021, Class A Common Units of Dutch Mafia, together with an equal number of shares of Class B Common Stock of the Issuer are exchangeable for shares of Class A Common Stock on a one-for-one basis at the discretion of the holder, subject to certain exceptions, conditions and adjustments. Upon such exchange, the associated shares of Class B Common Stock are surrendered and canceled by the Issuer. The Class A Common Units of Dutch Mafia and the Class B Common Stock of the Issuer do not have an expiration date and the holders thereof are not required to pay an exercise price in connection with exchanges.

Represents Class A Common Units of Dutch Mafia.