DM Trust Aggregator, LLC 4

What Happened
DM Trust Aggregator, LLC (reported as a 10% owner) sold a total of 488,945 Dutch Bros (BROS) common shares in two open-market transactions. On 2026-05-29 it sold 197,338 shares at a weighted average price of $58.27 for proceeds of $11,499,201. On 2026-06-01 it sold 291,607 shares at a weighted average price of $58.26 for proceeds of $16,988,907. These were outright sales (dispositions), not purchases or option exercises.

Key Details

• Transaction dates and reported weighted-average prices:
  • 2026-05-29: 197,338 shares @ $58.27 (proceeds $11,499,201). (Footnote F3: price range $58.00–$58.65.)
  • 2026-06-01: 291,607 shares @ $58.26 (proceeds $16,988,907). (Footnote F2: price range $58.00–$58.77.)
• Combined shares sold: 488,945; combined proceeds: ~$28.49 million.
• Ownership after the transactions: not disclosed in the provided filing excerpt.
• Footnotes: sales were effected automatically under a Rule 10b5‑1 trading plan adopted February 19, 2026 (F1). Weighted-average prices are reported with ranges and the filer offers to provide a per-trade price breakdown on request (F2/F3).
• Filing date: Form filed 2026-06-02 for transactions on 2026-05-29 and 2026-06-01; the excerpt does not indicate a late-filing flag.

Context
This filing reflects institutional selling by a reported 10% owner under an established 10b5‑1 plan, which generally means the trades were pre‑scheduled and automated rather than discretionary. Sales by large holders can be routine portfolio-management activity and do not necessarily indicate management sentiment about the company’s prospects.