4//SEC Filing
Smalla Frank H. 4
Accession 0001562180-23-002112
CIK 0000949870other
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 9:55 AM ET
Size
18.6 KB
Accession
0001562180-23-002112
Insider Transaction Report
Form 4
Smalla Frank H.
Chief Financial Officer
Transactions
- Award
Class A Common
2023-03-01+1,545→ 17,198 total - Tax Payment
Class A Common
2023-03-01$323.80/sh−196$63,465→ 15,653 total - Award
March 1, 2019 Stock Option
2023-03-01+637→ 1,911 totalExercise: $312.56From: 2021-03-01Exp: 2029-02-28→ Class A Common (1,911 underlying) - Award
March 1, 2021 Stock Option
2023-03-01+208→ 625 totalExercise: $1028.71From: 2023-03-01Exp: 2031-02-28→ Class A Common (625 underlying) - Award
March 1, 2020 Stock Option
2023-03-01+628→ 1,883 totalExercise: $370.79From: 2022-03-01Exp: 2030-02-28→ Class A Common (1,883 underlying) - Award
March 1, 2023 Stock Option
2023-03-01+3,084→ 3,084 totalExercise: $323.80From: 2025-03-01Exp: 2033-02-28→ Class A Common (3,084 underlying)
Footnotes (7)
- [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") and Investment Share Program shares ("ISPs"). The Reporting Person had a total of 646 RSUs and 31 ISPs vest on March 1, 2023.
- [F2]On March 1, 2023, the Issuer granted 1,545 RSUs to the Reporting Person under the Issuer's Employee Equity Incentive Plan ("EEIP"). The shares will vest in four equal installments over a four year period, provided that the Reporting Person remains employed by the Issuer on the applicable vesting dates, and subject to accelerated vesting in certain situations.
- [F3]The shares reported include 10,639 shares of restricted stock subject to vesting conditions.
- [F4]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 vested in three equal installments on March 1 in the years 2021-2023.
- [F5]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.
- [F6]The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2021. 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 2022 over Fiscal Year 2020. In February 2023, 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 2023-2025, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.
- [F7]The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2023. The extent to which the options become exercisable is dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2024 over Fiscal Year 2022. The Compensation Committee will determine if the performance criteria have been achieved prior to March 1, 2025. If the performance criteria is achieved, the options vest in three equal installments on March 1 in the years 2025-2027, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.
Documents
Issuer
BOSTON BEER CO INC
CIK 0000949870
Entity typeother
Related Parties
1- filerCIK 0001663087
Filing Metadata
- Form type
- 4
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 9:55 AM ET
- Size
- 18.6 KB