DAVILA TANA 4

What Happened
Tana Davila, Chief Marketing Officer of Dutch Bros (BROS), converted vested restricted stock units (RSUs) on July 1, 2026. Two RSU awards vested (8,787 and 5,655 shares), producing 14,442 shares in total. To cover tax liabilities, 3,678 and 2,367 shares were withheld at $73.31 per share, generating $269,634 and $173,525 respectively (total withheld ≈ $443,159). No open-market sale of shares was reported — the disposals were tax withholdings.

Key Details

• Transaction date: July 1, 2026; Form filed July 6, 2026 (filed 5 days after the transaction date; Form 4 is generally due within 2 business days, so this filing appears later than the typical window).
• RSUs converted: 8,787 and 5,655 (total 14,442 shares) upon vesting.
• Shares withheld for taxes: 3,678 (=$269,634) and 2,367 (=$173,525); total withheld = 6,045 shares (~$443,159).
• Net shares delivered to Davila after withholding: 14,442 − 6,045 = 8,397 shares.
• Footnotes: Each RSU equals a contingent right to one Class A common share (F1). The 8,787 and 5,655 amounts reflect 50% vesting on July 1, 2026 from prior awards of 17,574 (F2) and 11,310 (F3) RSUs, respectively.
• Shares owned after transaction: not specified in the provided excerpt.

Context

• These transactions are conversions of vested RSUs (derivative-to-equity conversion). The filings show shares withheld to satisfy tax obligations (a common, routine practice), not an open-market sale.
• No 10b5-1 plan or other sale program is indicated in the reported lines.