DM Trust Aggregator, LLC 4

What Happened
DM Trust Aggregator, LLC (listed as a 10% owner) sold a total of 977,890 Dutch Bros (BROS) shares in open-market transactions on June 10–11, 2026, generating proceeds of approximately $60.34 million. Individual sales reported: 461,532 shares at a weighted avg $60.35 ($27.85M), 27,413 shares at $61.08 ($1.67M), 233,690 shares at $62.47 ($14.60M), 226,120 shares at $63.46 ($14.35M), and 29,135 shares at $64.10 ($1.87M). These were sales (not purchases), and therefore do not indicate a bullish purchase signal.

Key Details

• Transaction dates: June 10, 2026 and June 11, 2026 (sales coded "S").
• Prices/ranges: weighted averages shown above; per-footnotes, execution prices ranged roughly $60.00–$64.23 across the multiple trades.
• Total shares sold: 977,890; approximate proceeds: $60.34 million.
• Shares owned after the transactions: not disclosed in the filing.
• Notable footnote: trades were executed automatically under a Rule 10b5-1 trading plan adopted by DM Trust Aggregator on February 19, 2026. Footnotes also report the price ranges for each grouped sale and offer to provide exact per-trade prices on request.
• Filing timeliness: Form 4 filed June 12, 2026 for trades on June 10–11 — the filing appears timely under the two-business-day rule.

Context
DM Trust Aggregator is a 10% institutional owner rather than an individual executive; sales under a 10b5-1 plan are pre-scheduled and typically reduce the weight of interpreting the trades as real-time insider sentiment. For retail investors, purchases generally carry more informational weight than planned sales; this filing documents routine, pre-arranged disposals by a large holder.