DM Individual Aggregator, LLC 4

What Happened
DM Individual Aggregator, LLC (a reported 10% owner) sold a total of 522,109 shares of Dutch Bros (BROS) in open-market transactions on June 10–11, 2026. The sales generated approximately $32.2 million in proceeds across multiple lots with weighted-average prices reported for each lot: 247,456 shares at $60.34 ($14.93M), 13,598 at $61.08 ($0.83M), 124,771 at $62.47 ($7.79M), 120,729 at $63.46 ($7.66M), and 15,555 at $64.10 (~$0.997M). These were sales (S) — generally considered routine portfolio/investment transactions rather than purchases that might signal bullishness.

Key Details

• Transaction dates: June 10, 2026 and June 11, 2026; Form 4 filed June 12, 2026 (appears timely).
• Lots and proceeds:
  • 247,456 shares @ $60.34 — $14,930,555 (F2: price range $60.00–$60.99)
  • 13,598 shares @ $61.08 — $830,562 (F3: price range $61.00–$61.30)
  • 124,771 shares @ $62.47 — $7,794,519 (F4: price range $62.00–$62.99)
  • 120,729 shares @ $63.46 — $7,661,100 (F5: price range $63.00–$63.99)
  • 15,555 shares @ $64.10 — $997,145 (F6: price range $64.00–$64.23)
• Total sold: 522,109 shares for ~$32,213,881.
• Shares owned after transaction: not specified in the provided filing details.
• Notable footnote: F1 indicates these sales were effected automatically under a Rule 10b5‑1 trading plan adopted February 19, 2026. Other footnotes (F2–F6) show the reported prices are weighted averages for multiple executions within stated price ranges; detailed per-trade prices can be provided on request.

Context

• This filing reports a 10% owner (institutional/large holder) selling shares. Such institutional sales can reflect portfolio rebalancing or liquidity needs and do not necessarily indicate insider sentiment about company fundamentals.
• Because these trades were made under a pre-established 10b5‑1 plan, the timing is pre-authorized and may not reflect contemporaneous views of management or the owner.