DM Individual Aggregator, LLC 4
4 · Dutch Bros Inc. · Filed Apr 29, 2026
Research Summary
AI-generated summary of this filing
Dutch Bros (BROS) 10% Owner Converts 3,445,200 Units to Shares
What Happened DM Individual Aggregator, LLC (reported as a 10% owner) converted 3,445,200 Class A Common Units of Dutch Mafia into 3,445,200 shares of Dutch Bros, Inc. (BROS) on April 27, 2026. The conversion was reported as the acquisition of 3,445,200 shares at $0.00 and the corresponding disposition of 3,445,200 derivative units (code C) at $0.00 — i.e., a one-for-one exchange of units for common stock with no cash paid.
Key Details
- Transaction date: 2026-04-27 (Form 4 filed 2026-04-29; filing appears timely).
- Price: $0.00 per share (no cash consideration for the exchange).
- Reported actions: Acquisition of 3,445,200 shares (conversion) and simultaneous disposal of 3,445,200 derivative units.
- Shares owned after transaction: Not specified in the Form 4 filing.
- Footnotes: F1 clarifies Class A Common Units of Dutch Mafia are exchangeable one-for-one for BROS Class A shares at holder’s discretion with no exercise price and no expiration; F2 notes these reported interests represent Dutch Mafia’s Class A Common Units.
- Transaction type: Derivative conversion (not an open-market buy or sale).
Context This filing documents an exchange of exchangeable units for common shares by a significant holder (10% owner), which increases the company’s issued common shares by the converted amount. It is an institutional/owner conversion rather than an executive trading signal — no cash changed hands and it does not indicate an open-market purchase or sale.
Insider Transaction Report
- Conversion
Class A Common Stock
[F1]2026-04-27+3,445,200→ 3,455,017 total - Conversion
Class A Common Units
[F2][F1]2026-04-27−3,445,200→ 14,871,616 total→ Class A Common Stock (3,445,200 underlying)
Footnotes (2)
- [F1]In accordance with the amended and restated limited liability company agreement of Dutch Mafia, LLC ("Dutch Mafia"), Class A Common Units of Dutch Mafia are exchangeable for shares of Class A Common Stock of the Issuer on a one-for-one basis at the discretion of the holder, subject to certain exceptions, conditions and adjustments. The Class A Common Units of Dutch Mafia do not have an expiration date, and the holders thereof are not required to pay an exercise price in connection with the exchanges.
- [F2]Represents Class A Common Units of Dutch Mafia, the operating company of the Issuer.