SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Boersma Travis

(Last)

(First)

(Middle)

C/O DUTCH BROS INC.

110 SW 4TH STREET

(Street)

GRANTS PASS

97526

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Dutch Bros Inc. [ BROS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman of Board

3. Date of Earliest Transaction (Month/Day/Year)
09/22/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	11/15/2021		P		19.3603	A	$62.01	19.3603	I	By Son⁽¹⁾
Class A Common Stock	11/15/2021		S		19.3603	D	$62.24	0	I	By Son⁽¹⁾
Class A Common Stock	05/18/2022		P		107.9481	A	$24.89	107.9481	I	By Son⁽¹⁾
Class A Common Stock	05/27/2022		S		1.4508	D	$37.59⁽²⁾	106.4972	I	By Son⁽¹⁾
Class A Common Stock	05/27/2022		P		1.4781	A	$36.89	107.9754	I	By Son⁽¹⁾
Class A Common Stock	09/01/2022		P		29.0477	A	$34.43⁽³⁾	137.0231	I	By Son⁽¹⁾
Class A Common Stock	09/13/2022		P		41.9693	A	$35.74⁽⁴⁾	178.9924	I	By Son⁽¹⁾
Class A Common Stock	01/06/2023		S		100	D	$30	78.9924	I	By Son⁽¹⁾
Class A Common Stock	01/09/2023		S		78	D	$31.4	0.9924	I	By Son⁽¹⁾
Class A Common Stock	03/01/2023		P		255	A	$32	255.9924	I	By Son⁽¹⁾
Class A Common Stock	03/07/2023		P		1.9831	A	$33.73	257.9755	I	By Son⁽¹⁾
Class A Common Stock	03/27/2023		S		25.4496	D	$29.44	232.5259	I	By Son⁽¹⁾
Class A Common Stock	03/27/2023		P		25.4331	A	$29.45	257.959	I	By Son⁽¹⁾
Class A Common Stock	04/14/2023		S		128.972	D	$32.1	128.987	I	By Son⁽¹⁾
Class A Common Stock	05/10/2023		P		130.3816	A	$29.8⁽⁵⁾	259.3686	I	By Son⁽¹⁾
Class A Common Stock	08/03/2023		S		136.1934	D	$29.36	123.1752	I	By Son⁽¹⁾
Class A Common Stock	08/08/2023		S		27.3423	D	$27.43	95.8329	I	By Son⁽¹⁾
Class A Common Stock	08/08/2023		P		2.4696	A	$27.51	98.3025	I	By Son⁽¹⁾
Class A Common Stock	08/08/2023		P		10.8456	A	$27.66	109.1482	I	By Son⁽¹⁾
Class A Common Stock	08/09/2023		S		109.1482	D	$30.72⁽⁶⁾	0	I	By Son⁽¹⁾
Class A Common Stock								15,610	I	By DM Trust Aggregator, LLC
Class A Common Stock								9,817	I	By DM Individual Aggregator, LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Call Option (Right to Buy)	$60	09/22/2021		P		1		09/22/2021	10/15/2021	Class A Common Stock	100	$440	1	I	By Son⁽¹⁾
Call Option (Right to Buy)	$60	09/22/2021		S			1	09/22/2021	10/15/2021	Class A Common Stock	100	$399.98	0	I	By Son⁽¹⁾
Call Option (Right to Buy)	$40	10/05/2021		P		1		10/05/2021	10/15/2021	Class A Common Stock	100	$430	1	I	By Son⁽¹⁾
Call Option (Right to Buy)	$40	10/07/2021		S			1	10/05/2021	10/15/2021	Class A Common Stock	100	$479.98	0	I	By Son⁽¹⁾
Put Option (Right to Sell)	$60	10/19/2021		P		1		10/19/2021	11/19/2021	Class A Common Stock	100	$500	1	I	By Son⁽¹⁾
Put Option (Right to Sell)	$60	10/21/2021		S			1	10/19/2021	11/19/2021	Class A Common Stock	100	$569.98	0	I	By Son⁽¹⁾
Put Option (Right to Sell)	$41	02/21/2023		P		2		02/21/2023	02/24/2023	Class A Common Stock	200	$401	2	I	By Son⁽¹⁾
Put Option (Right to Sell)	$41	02/21/2023		P		4		02/21/2023	02/24/2023	Class A Common Stock	400	$400	6	I	By Son⁽¹⁾
Put Option (Right to Sell)	$41	02/21/2023		P		1		02/21/2023	03/03/2024	Class A Common Stock	100	$420	1	I	By Son⁽¹⁾
Put Option (Right to Sell)	$41	02/24/2023		S			4	02/21/2023	02/24/2023	Class A Common Stock	400	$789.98	2	I	By Son⁽¹⁾
Put Option (Right to Sell)	$41	02/24/2023		S			2	02/21/2023	02/24/2023	Class A Common Stock	200	$809.98	0	I	By Son⁽¹⁾
Put Option (Right to Sell)	$41	03/01/2023		S			1	02/21/2023	03/03/2024	Class A Common Stock	100	$819.98	0	I	By Son⁽¹⁾
Put Option (Right to Sell)	$33	05/09/2023		P		5		05/09/2023	05/12/2023	Class A Common Stock	500	$210	5	I	By Son⁽¹⁾
Put Option (Right to Sell)	$33	05/09/2023		S			5	05/09/2023	05/12/2023	Class A Common Stock	500	$200	0	I	By Son⁽¹⁾
Put Option (Right to Sell)	$33	05/09/2023		P		1		05/09/2023	05/12/2023	Class A Common Stock	100	$205	1	I	By Son⁽¹⁾
Put Option (Right to Sell)	$33	05/10/2023		S			1	05/09/2023	05/12/2023	Class A Common Stock	100	$299.98	0	I	By Son
Call Option (Right to Buy)	$26	08/08/2023		P		3		08/08/2023	08/11/2023	Class A Common Stock	300	$230	3	I	By Son⁽¹⁾
Call Option (Right to Buy)	$26	08/08/2023		S			1	08/08/2023	08/11/2023	Class A Common Stock	100	$239.98	2	I	By Son⁽¹⁾
Call Option (Right to Buy)	$26	08/09/2023		S			2	08/08/2023	08/11/2023	Class A Common Stock	200	$549.99	0	I	By Son⁽¹⁾

Explanation of Responses:

1. Pursuant to Section 16 reporting requirements, the Form 4 reflects purchases and sales of the Issuer's Class A common stock and derivative securities that were made by the Reporting Person's adult son. The amount of profit realized by the applicable short-swing transactions is approximately $8,500 and has been paid to the Issuer, as required. The Reporting Person was recently notified of the transactions by his son, resulting in today's filing. This report shall not be deemed an admission by the Reporting Person that he is the beneficial owner of any of the securities traded by his adult son, other than for purposes of Section 16.

2. Represents weighted average sales price. The shares were sold at prices ranging from $37.56 to $37.60. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

3. Represents weighted average purchase price. The shares were sold at prices ranging from $34.39 to $34.43. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares purchased at each separate price.

4. Represents weighted average purchase price. The shares were sold at prices ranging from $35.39 to $35.92. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares purchased at each separate price.

5. Represents weighted average purchase price. The shares were sold at prices ranging from $29.76 to $29.80. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares purchased at each separate price.

6. Represents weighted average sales price. The shares were sold at prices ranging from $30.72 to $30.78. The Reporting Person will provide upon request, to the SEC, the Issuer or security holder of the Issuer, full information regarding the number of shares sold at each separate price.

Remarks:

	By Travis Boersma	08/29/2023
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.