Fritsch Annette N 4

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.