Dutch Bros (BROS) Director Gerard Hart Converts 775 RSUs

What Happened

• Gerard Johan Hart, a director of Dutch Bros Inc. (BROS), had a derivative conversion on Aug 20, 2026: 775 restricted stock units (RSUs) were converted into 775 shares (reported as acquired at $0.00) and the same 775 shares were reported as disposed (at $0.00) on the same date. The Form 4 was filed on Aug 21, 2026.
• No cash consideration is shown in the filing (price $0.00), and the filing does not state a dollar value for the disposition.

Key Details

• Transaction date: 2026-08-20; Filing date: 2026-08-21 (timely filing).
• Transaction codes: M (exercise/conversion of derivative); Acquired 775 shares @ $0.00; Disposed 775 shares @ $0.00.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1 clarifies each RSU is a contingent right to one Class A share. F2 describes the original RSU award schedule: 25% vested on Aug 20, 2026 (this tranche), 25% on Nov 20, 2026, 25% on Feb 20, 2027, and the final 25% on the earlier of May 20, 2027 or the 2027 annual meeting.

Context

• Code M indicates a conversion/exercise of a derivative (here, RSUs converting into shares). The filing shows both acquisition and immediate disposition of the same number of shares at $0.00; the Form 4 does not explain the purpose of the disposition (e.g., tax withholding, net-settlement, or immediate sale), so no inference about trading intent should be made.