Fritsch Annette N 4

4 · BOSTON BEER CO INC · Filed Mar 3, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

Boston Beer (SAM) VP Annette Fritsch Receives RSU Award; Shares Withheld

What Happened

Annette Fritsch, VP of Product Design & R&D at Boston Beer (SAM), had restricted stock units (RSUs) vest on March 1, 2026. The Form 4 reports an acquisition of 309 shares (derivative award, $0 per share) and the withholding/disposition of 270 shares to cover tax obligations at $226.78 per share, totaling about $61,231. This withholding (code F) reflects taxpayment on vesting, not an open‑market sale.

Key Details

Transaction date: March 1, 2026; Form 4 filed March 3, 2026 (timely).
Reported transactions: A — 309 shares acquired (derivative/award); F — 270 shares withheld/disposed at $226.78 for $61,231.
Vesting note: The reporting person had 914 RSUs vest on March 1, 2026; the issuer net‑withheld a portion to satisfy tax obligations.
Holdings note: The filing states holdings include 8,541 shares of restricted stock subject to vesting conditions (per footnote).
No indication of a 10b5-1 plan or late filing in this report.

Context

The 270‑share disposition is a tax‑withholding/settlement of vested RSUs (routine), not an open‑market sale signaling sentiment.
The 309 acquired shares are derivative (RSU) awards; no cash purchase was made.
Related footnote: Performance‑based options granted March 1, 2023 had their performance targets met and will vest in equal installments on March 1 of 2025–2027, subject to continued employment.

Form 4

Period: 2026-03-01

VP of Product Design and R&D

Transactions

Tax Payment
Class A Common
[F1][F2]
2026-03-01$226.78/sh−270$61,231→ 9,445 total
Award
March 1, 2023 Stock Option
[F3]
2026-03-01+309→ 617 total
Exercise: $323.80From: 2025-03-01Exp: 2033-02-28→ Class A Common (926 underlying)

Footnotes (3)

[F1]The Issuer net withheld the vesting of a percentage of shares to satisfy the tax obligations of the Reporting Person flowing from the vesting of Restricted Stock Units ("RSUs"). The Reporting Person had a total of 914 RSUs vest on March 1, 2026.
[F2]The shares reported include 8,541 shares of restricted stock subject to vesting conditions.
[F3]The Performance-Based Stock Options were granted pursuant to the Issuer's Employee Equity Incentive Plan ("EEIP") on March 1, 2023. The extent to which the options were exercisable was dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2024 over Fiscal Year 2022. In February 2025, the Compensation Committee determined that the performance criteria had been achieved, and as such the options will vest in three equal installments on March 1 in the years 2025-2027, contingent on the Reporting Person's continued employment with the Issuer on the applicable vesting dates.

Signature

Michael G. Andrews under POA for the benefit of Annette N. Fritsch|2026-03-03

1 file