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Dutch Bros Inc.·4

May 15, 8:03 PM ET

Penegor Todd Allan 4

Research Summary

AI-generated summary

Updated

Dutch Bros (BROS) Director Todd Penegor Buys 2,000 Shares

What Happened
Todd Allan Penegor, a director of Dutch Bros Inc. (BROS), made an open‑market purchase of 2,000 shares on May 15, 2026 at $51.17 per share (reported total $102,350). In addition, the Form 4 reports RSU/derivative activity on May 13, 2026: a conversion/exercise of 444 derivative units at $0 and a grant/award of 3,099 restricted stock units (RSUs). Combined, the RSU-related entries total 3,543 units (444 converted + 3,099 awarded). The open‑market purchase is a buy (a direct acquisition), which retail investors often view as a more informative signal than routine sales.

Key Details

  • Transaction dates and prices:
    • May 13, 2026: Exercise/conversion of 444 derivative units at $0.00 (acquired) and a corresponding derivative disposition of 444 units at $0.00; grant/award of 3,099 RSUs at $0.00.
    • May 15, 2026: Open‑market purchase of 2,000 shares at $51.17 per share (reported $102,350).
  • Shares owned after the transactions: not specified in the provided filing summary.
  • Footnotes of note:
    • F1: Each RSU represents a contingent right to receive one share of Class A common stock.
    • F2: The reported RSU award included vesting installments with the final 25% vesting on May 13, 2026 (the company’s 2026 annual meeting).
    • F3: A separate RSU award remains subject to future vesting (Aug/Nov/Feb installments and final vesting by May 20, 2027 or the 2027 annual meeting).
  • Filing timeliness: Form filed May 15, 2026 to report May 13 transactions — within the typical two‑business‑day Form 4 window (timely).

Context

  • RSUs/derivatives: RSUs are awards that convert to shares when they vest. The filing shows both a conversion (acquisition) of 444 derivative units and a matching disposition of 444 units; filings commonly show this pattern when vested shares are converted and some shares are surrendered or withheld to satisfy tax withholding or similar obligations.
  • Purchase vs. award: The 2,000‑share open‑market purchase is a clear buy (cash purchase). The RSU entries are compensation/vesting related and do not necessarily indicate separate discretionary market buying.
  • No 10% owner implication: Penegor is reported as a director (not a 10% owner), so this is insider/director trading and award activity.