Dutch Bros Inc. — Director's Dealing 2024

Jan 26, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Dutch Bros Inc. (BROS)
CIK: 0001866581
Period of Report: 2024-01-24

Reporting Person: Boersma Travis (Director, Executive Chairman of Board, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-01-24	Class A Common Stock	C	324577	—	Acquired	2514241	Indirect
2024-01-24	Class A Common Stock	C	233333	—	Acquired	1581186	Indirect
2024-01-24	Class B Common Stock	C	324577	—	Disposed	36458141	Indirect
2024-01-24	Class B Common Stock	C	233333	—	Disposed	22899005	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-01-24	Class A Common Units	$	C	324577	Disposed		Class A Common Stock (324577)	Indirect
2024-01-24	Class A Common Units	$	C	233333	Disposed		Class A Common Stock (233333)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	714080	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Class A Common Units	$		Class A Common Stock (714080)	714080	Indirect

Footnotes

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.