Grinnell David L. 4
4 · BOSTON BEER CO INC · Filed Mar 2, 2022
Insider Transaction Report
Form 4
Grinnell David L.
Vice President of Brewing
Transactions
- Tax Payment
Class A Common
2022-03-01−75→ 1,611 total - Award
March 1, 2020 Stock Option
2022-03-01+363→ 1,089 totalExercise: $370.79From: 2022-03-01Exp: 2030-02-28→ Class A Common (1,089 underlying) - Award
March 1, 2019 Stock Option
2022-03-01+331→ 792 totalExercise: $312.56From: 2021-03-01Exp: 2029-02-28→ Class A Common (992 underlying)
Footnotes (4)
- [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 251 RSUs vest on March 1, 2022.
- [F2]The shares reported include 848 shares of restricted stock subject to vesting conditions.
- [F3]The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2019. 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 2020 over Fiscal Year 2018. In February 2021, the Compensation Committee determined that the performance criteria had been achieved, and as such the options vest in three equal installments on March 1 in the years 2021-2023, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.
- [F4]The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2020. 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 2021 over Fiscal Year 2019. In February 2022, the Compensation Committee determined that the performance criteria had been achieved, and as such the options vest in three equal installments on March 1 in the years 2022-2024, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.