Dutch Bros (BROS) Director Stephen Gillett Converts 775 RSUs to Shares

What Happened
Stephen Gillett, a director of Dutch Bros Inc. (BROS), had 775 restricted stock units (RSUs) converted into 775 shares on August 20, 2026 (reported as derivative conversion/exercise, code M). The filing shows 775 shares acquired at $0.00 and 775 shares disposed at $0.00—no cash changed hands in these entries. This reflects a vesting/conversion event rather than an open-market purchase or a sale for investment purposes.

Key Details

• Transaction date: August 20, 2026; Form filed August 21, 2026 (timely filing).
• Shares: 775 shares reported acquired at $0.00 and 775 shares reported disposed at $0.00.
• Price/value: $0.00 per share; no proceeds reported.
• Footnotes: F1 clarifies each RSU equals a contingent right to one Class A share. F2 notes the RSU award vests 25% on Aug 20, 2026 (and in three subsequent installments), indicating these 775 shares arose from scheduled vesting.
• Shares owned after transaction: not specified in the provided filing details.

Context: This was a derivative conversion of vested RSUs, not an open-market trade. The simultaneous conversion and zero-dollar disposition entries are common when shares are issued on vesting and then transferred or withheld for administrative or tax purposes; the filing does not report sale proceeds or market activity.