DM Trust Aggregator, LLC 4

What Happened

• DM Trust Aggregator, LLC, a 10% owner of Dutch Bros Inc. (BROS), sold a total of 488,945 shares in two open-market transactions: 355,217 shares on 2026-05-27 (weighted avg $56.21) for $19,966,819, and 133,728 shares on 2026-05-28 (weighted avg $56.16) for $7,509,696 — total proceeds ≈ $27.48 million. These were sales (dispositions), not purchases.

Key Details

• Transaction dates and prices:
  • 2026-05-27: 355,217 shares sold, weighted avg $56.21 (prices in range $56.00–$56.58).
  • 2026-05-28: 133,728 shares sold, weighted avg $56.16 (prices in range $56.00–$56.44).
• Total shares sold: 488,945; total proceeds ≈ $27,476,515.
• Shares owned after the transactions: not disclosed in the provided filing.
• Filed: Form 4 filed 2026-05-29 for transactions on 2026-05-27 and 2026-05-28 — within the typical two-business-day Form 4 filing window.
• Notable footnotes:
  • The trades were executed automatically under a Rule 10b5-1 trading plan adopted by DM Trust Aggregator on February 19, 2026 (footnote F1).
  • Footnotes F2 and F3 note the reported amounts are weighted average prices and that the trades occurred in multiple executions across the stated price ranges; detailed per-price breakdowns are available upon request.

Context

• This filing involves a 10% owner entity, not an individual company executive; such institutional/entity sales are often routine and may follow pre-established plans. The presence of a 10b5-1 plan indicates the trades were pre-planned and automatic, which typically reduces the inference that the sales were based on recent nonpublic information.