Joyce Meghan V. 4

What Happened

• Meghan V. Joyce, a non-employee director of Boston Beer Co. Inc. (SAM), received equity compensation on May 27, 2026. She was granted 358 restricted stock units (RSUs) reported as 358 shares acquired at $0.00 and 691 option shares reported as a derivative acquisition at $0.00. The RSUs will vest in full on May 12, 2027 if she remains a board member; the 691 option shares are described as immediately exercisable but are subject to the company's Director Stock Ownership and Retention Guidelines.

Key Details

• Transaction date: 2026-05-27; SEC filing date: 2026-05-28 (timely).
• Reported amounts: 358 RSUs (restricted shares) and 691 option/derivative shares; both reported at $0.00 (grant).
• Vesting/exercise terms: RSUs vest 5/12/2027 subject to continued board service (Footnotes F1–F2). Option shares are immediately exercisable but governed by Director Stock Ownership and Retention Guidelines (Footnote F3).
• Shares owned after transaction: Not specified in the provided excerpt of the Form 4.
• Transaction code: A = Award/Grant. No sale or open‑market purchase reported.

Context

• These grants are routine board compensation for non-employee directors and are recorded as awards rather than purchases or sales. RSUs represent a promise of shares that vest later; option shares give the right to acquire shares and here are noted as immediately exercisable but still subject to retention guidelines. Such awards do not, by themselves, indicate the director buying or selling stock in the open market.