SEC Form 4
Dutch Bros Inc. (BROS) insider trading
In the 12 months to Oct 24, 2026, 4 BROS insiders reported open-market sales of $646.0M across 16 filings; one director bought $205.5K.
Latest filing · Last 12 months · Source: SEC EDGAR · How we count
- Open-market sales
- $646.0M
- 16 filings · 4 insiders
- Open-market purchases
- $205.5K
- 2 filings · Todd Allan Penegor, Director
- Pre-arranged sales (10b5-1)
- 16 of 16
- All $646.0M sold was pre-arranged
Who traded BROS, and when
- Purchase
- Sale
- Sale, pre-arranged (10b5-1)
BROS daily close from Oct 24, 2025 to Oct 23, 2026, between $37.28 and $73.31, last $41.49. 16 sale and 2 purchase filings by 5 insiders, marked at their filing dates. Travis Boersma, Executive Chairman of Board: sold $321.7M across 5 filings, first filed Nov 26, 2025, last Oct 22, 2026. DM Trust Aggregator, LLC, 10% owner: sold $204.5M across 5 filings, first filed Nov 26, 2025, last Oct 22, 2026. DM Individual Aggregator, LLC, 10% owner: sold $117.2M across 5 filings, first filed Nov 26, 2025, last Oct 22, 2026. Christine Barone, CEO and President: sold $2.5M across 1 filing, first filed Jun 11, 2026, last Jun 11, 2026. Todd Allan Penegor, Director: bought $205.5K across 2 filings, first filed May 15, 2026, last Aug 14, 2026.
Largest mark · tap a row for others
Travis Boersma · Executive Chairman of Board
Sale $136,924,542
2,500,000 shares at $54.77 avg
Filed Nov 26, 2025 · traded Nov 24
Pre-arranged (10b5-1) · close on filing date $58.28
Travis Boersma · Executive Chairman of Board
Executive Chairman of Board
$321.7M soldDM Trust Aggregator, LLC · 10% owner
10% owner
$204.5M soldDM Individual Aggregator, LLC · 10% owner
10% owner
$117.2M soldChristine Barone · CEO and President
CEO and President
$2.5M soldTodd Allan Penegor · Director
Director
$205.5K boughtHas Dutch Bros Inc.'s CEO sold stock?
Yes. Christine Barone (CEO) sold 42,031 shares ($2.5M) in Jun 2026, all under a pre-arranged 10b5-1 plan.
Open-market trades
18 filings in the last 12 months| Insider | Role | Sold | Bought | Filings | Pre-arranged (10b5-1) | Last filed |
|---|---|---|---|---|---|---|
| Travis Boersma | Executive Chairman of Board | $321.7M | — | 5 | 100% of sales | |
| DM Trust Aggregator, LLC | 10% owner | $204.5M | — | 5 | 100% of sales | |
| DM Individual Aggregator, LLC | 10% owner | $117.2M | — | 5 | 100% of sales | |
| Christine Barone | CEO and President | $2.5M | — | 1 | 100% of sales | |
| Todd Allan Penegor | Director | — | $205.5K | 2 | — |
| Filed | Insider | Type | Shares | Avg price | Value | Held after | Source |
|---|---|---|---|---|---|---|---|
traded | Travis Boersma Executive Chairman of Board | SalePre-arranged (10b5-1) | 145,687 | $44.01 | $6.4M | Multiple accounts | |
traded | DM Trust Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 94,978 | $44.01 | $4.2M | 4,419,652 | |
traded | DM Individual Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 50,709 | $44.01 | $2.2M | 2,360,091 | |
traded | Todd Allan Penegor Director | Purchase | 2,000 | $51.56 | $103.1K | 7,358 | |
traded | DM Trust Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 977,890 | $61.71 | $60.3M | 4,514,630 | |
traded | DM Individual Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 522,109 | $61.70 | $32.2M | 2,410,800 | |
traded | Travis Boersma Executive Chairman of Board | SalePre-arranged (10b5-1) | 1,499,999 | $61.71 | $92.6M | Multiple accounts | |
traded | Christine Barone CEO and President | SalePre-arranged (10b5-1) | 42,031 | $60.13 | $2.5M | 44,573 | |
traded | DM Trust Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 488,945 | $58.26 | $28.5M | 5,492,520 | |
traded | DM Individual Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 261,054 | $58.26 | $15.2M | 2,932,909 | |
traded | Travis Boersma Executive Chairman of Board | SalePre-arranged (10b5-1) | 749,999 | $58.26 | $43.7M | Multiple accounts | |
traded | DM Trust Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 488,945 | $56.20 | $27.5M | 5,981,465 | |
traded | DM Individual Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 261,054 | $56.20 | $14.7M | 3,193,963 | |
traded | Travis Boersma Executive Chairman of Board | SalePre-arranged (10b5-1) | 749,999 | $56.20 | $42.1M | Multiple accounts | |
traded | Todd Allan Penegor Director | Purchase | 2,000 | $51.18 | $102.4K | 5,358 | |
traded | DM Trust Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 1,534,786 | $54.77 | $84.1M | 955,803 | |
traded | DM Individual Aggregator, LLC 10% owner | SalePre-arranged (10b5-1) | 965,214 | $54.77 | $52.9M | 601,098 | |
traded | Travis Boersma Executive Chairman of Board | SalePre-arranged (10b5-1) | 2,500,000 | $54.77 | $136.9M | Multiple accounts |
GET /stocks/filings/vX/form-4?tickers=BROS&filing_date.gte=2025-10-24&sort=filing_date.desc&limit=500{
"status": "OK",
"results": [
{
"tickers": [
"BROS"
],
"issuer_cik": "0001866581",
"owner_cik": "0001883096",
"accession_number": "0001866581-26-000160",
"form_type": "4",
"filing_date": "2026-10-22",
"period_of_report": "2026-10-20",
"issuer_name": "Dutch Bros Inc.",
"issuer_trading_symbol": "BROS",
"owner_name": "DM Individual Aggregator, LLC",
"is_director": false,
"is_officer": false,
"is_ten_percent_owner": true,
"is_other": false,
"security_type": "non_derivative",
"record_type": "transaction",
"security_title": "Class A Common Stock",
"transaction_timeliness": "O",
"aff_10b5_one": true,
"transaction_date": "2026-10-20",
"transaction_code": "S",
"equity_swap_involved": false,
"transaction_shares": 50709,
"transaction_price_per_share": 44.008,
"transaction_acquired_disposed": "D",
"shares_owned_following_transaction": 2360091,
"transaction_value": 2231601.6720000003,
"not_subject_to_section_16": false,
"direct_or_indirect": "D",
"footnotes": [
{
"id": "F1",
"description": "As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Individual Aggregator, LLC on February 19, 2026."
},
{
"id": "F2",
"description": "Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $44.0000 to $44.0900 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above."
}
]
},
{
"tickers": [
"BROS"
],
"issuer_cik": "0001866581",
"owner_cik": "0001883154",
"accession_number": "0001866581-26-000158",
"form_type": "4",
"filing_date": "2026-10-22",
"period_of_report": "2026-10-20",
"issuer_name": "Dutch Bros Inc.",
"issuer_trading_symbol": "BROS",
"owner_name": "Boersma Travis",
"is_director": true,
"is_officer": true,
"is_ten_percent_owner": true,
"is_other": false,
"officer_title": "Executive Chairman of Board",
"security_type": "non_derivative",
"record_type": "transaction",
"security_title": "Class A Common Stock",
"transaction_timeliness": "O",
"aff_10b5_one": true,
"transaction_date": "2026-10-20",
"transaction_code": "S",
"equity_swap_involved": false,
"transaction_shares": 50709,
"transaction_price_per_share": 44.008,
"transaction_acquired_disposed": "D",
"shares_owned_following_transaction": 2360091,
"transaction_value": 2231601.6720000003,
"not_subject_to_section_16": false,
"direct_or_indirect": "I",
"nature_of_ownership": "By DM Individual Aggregator, LLC",
"footnotes": [
{
"id": "F4",
"description": "As indicated by the checkbox above, this transaction was effected automatically pursuant to a Rule 10b5-1 trading plan adopted by DM Individual Aggregator, LLC on February 19, 2026."
},
{
"id": "F2",
"description": "Represents the weighted average sale price. These shares were sold in multiple transactions at prices ranging from $44.0000 to $44.0900 inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth above."
},
{
"id": "F3",
"description": "The reporting person is the manager of DM Trust Aggregator, LLC and DM Individual Aggregator, LLC (the \"DM Trusts\"). Multiple members hold ownership interests in the DM Trusts, including the reporting person. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, if any, and the inclusion of the reported securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or any other purpose."
}
]
}
]
}
// trimmed to 2 resultsThe response includes every Form 4 record; this page keeps open-market purchases and sales on common stock and removes duplicate joint-filer rows.
Other insider activity (not market trades) · 74 records
- Option exercises48 records
- Tax withholding17 records
- Other9 records
Reported on Form 4 but not purchases or sales in the market, so not counted in the totals above.
Build this yourself
This page joins two Massive endpoints: Form 4 filings and daily prices. Ask an agent to watch for new filings:
Using the Massive API (massive.com/docs/llms.txt), check Form 4 filings for BROS every day with transaction_code=P and tell me when an insider files an open-market purchase, with their role, shares, price and the filing link.
How to read this page
- Open-market purchase or sale
- A buy or sell of the company's stock at market price. Grants, option exercises, shares withheld for tax, gifts and employee stock plan purchases are listed separately and not counted.
- Pre-arranged (10b5-1)
- The insider marked the filing as made under a trading plan set up in advance (SEC Rule 10b5-1). The mark covers the whole filing, and an unmarked filing may still be under a plan.
- Filing date
- Insiders have two business days to report a trade. Totals and the chart use the filing date, when the trade became public.