DM Individual Aggregator, LLC 4

What Happened
DM Individual Aggregator, LLC, a reported 10% owner of Dutch Bros Inc. (BROS), sold a total of 261,054 shares in two open‑market transactions: 189,655 shares on 2026-05-27 at a weighted average price of $56.21 (proceeds $10,660,545) and 71,399 shares on 2026-05-28 at a weighted average price of $56.16 (proceeds $4,009,518). Total proceeds were approximately $14,670,063. These were sales (liquidity transactions), not purchases.

Key Details

• Transaction dates and amounts:
  • 2026-05-27: 189,655 shares sold, weighted avg $56.21 (price range $56.00–$56.58) — $10,660,545 (F2).
  • 2026-05-28: 71,399 shares sold, weighted avg $56.16 (price range $56.00–$56.44) — $4,009,518 (F3).
• Total shares sold: 261,054; total proceeds: ~$14.67M.
• Shares owned after the transactions: Not specified in the Form 4 filing.
• Notable footnotes:
  • F1: Sales were effected automatically under a Rule 10b5‑1 trading plan adopted on Feb 19, 2026.
  • F2/F3: Report weighted average sale prices; per‑price breakdowns are available upon request to the issuer or SEC staff.
• Filing: Report filed 2026-05-29 covering trades on 2026-05-27 and 2026-05-28; timing appears within the typical Form 4 reporting window.

Context
As a reported 10% owner (an institutional holder structure), these transactions were executed under a pre‑arranged 10b5‑1 plan, which generally indicates automated sales according to a preset schedule rather than discretionary trades by company insiders. For retail investors, such planned sales are commonly liquidity or portfolio-management actions and should be interpreted cautiously alongside other signals (e.g., multiple insider buys or strategic announcements).