Hahm Derek Y Form 4 CRAFT BREW ALLIANCE / Derek Y Hahm ownership change

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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X

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^*

Hahm Derek Y

(Last) (First) (Middle)

929 NORTH RUSSELL STREET

(Street)

PORTLAND OR 97227

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CRAFT BREW ALLIANCE, INC. [ BREW ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Chief Commercial Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/30/2020

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)
			Code	V	Amount	(A) or (D)	Price
Common stock	09/30/2020		D		6,760(1)	D	$16.5(1)	0	D

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)	09/30/2020		D			3,926	(2)	(2)	Common stock	3,926	$0(2)	0	D
Employee Stock Option	$7.63(3)	09/30/2020		D			4,640	(3)	05/14/2022	Common stock	4,640	$8.87(3)	0	D
Employee Stock Option	$7.54(4)	09/30/2020		D			5,232	(4)	05/22/2023	Common stock	5,232	$8.96(4)	0	D
Employee Stock Option	$10.7(5)	09/30/2020		D			4,327	(5)	05/20/2024	Common stock	4,327	$5.8(5)	0	D
Employee Stock Option	$13.1(6)	09/30/2020		D			3,902	(6)	03/13/2025	Common stock	3,902	$3.4(6)	0	D

Explanation of Responses:

1. Cancelled upon the completion of the merger contemplated by the Merger Agreement described under "Remarks" below and converted into the right to receive $16.50 per share in cash, without interest.

2. Upon completion of the merger contemplated by the Merger Agreement, each outstanding restricted stock unit was converted, as of the time of the first regularly scheduled payroll date that is at least five business days following completion of the merger (or at such later time as is specified in the Merger Agreement), into the right to receive $16.50 in cash.

3. Upon completion of the merger contemplated by the Merger Agreement, this option, whether vested or unvested, was converted, as of the time of the first regularly scheduled payroll date that is at least five business days following completion of the merger (or at such later time as is specified in the Merger Agreement), into the right to receive a cash payment of $41,156.80, representing the difference between $16.50 and the exercise price of the option, multiplied by the number of shares subject to the option.

4. Upon completion of the merger contemplated by the Merger Agreement, this option, whether vested or unvested, was converted, as of the time of the first regularly scheduled payroll date that is at least five business days following completion of the merger (or at such later time as is specified in the Merger Agreement), into the right to receive a cash payment of $46,878.72, representing the difference between $16.50 and the exercise price of the option, multiplied by the number of shares subject to the option.

5. Upon completion of the merger contemplated by the Merger Agreement, this option, whether vested or unvested, was converted, as of the time of the first regularly scheduled payroll date that is at least five business days following completion of the merger (or at such later time as is specified in the Merger Agreement), into the right to receive a cash payment of $25,096.60, representing the difference between $16.50 and the exercise price of the option, multiplied by the number of shares subject to the option.

6. Upon completion of the merger contemplated by the Merger Agreement, this option, whether vested or unvested, was converted, as of the time of the first regularly scheduled payroll date that is at least five business days following completion of the merger (or at such later time as is specified in the Merger Agreement), into the right to receive a cash payment of $13,266.80, representing the difference between $16.50 and the exercise price of the option, multiplied by the number of shares subject to the option.

Remarks:

This Form 4 reports securities disposed of pursuant to the terms of the Agreement and Plan of Merger (the "Merger Agreement'), dated as of November 11, 2019, by and among Craft Brew Alliance, Inc. (the "Company"), Anheuser-Busch Companies, LLC ("ABC") and Barrel Subsidiary, Inc., pursuant to which the Company became a wholly owned subsidiary of ABC on September 30, 2020.

	/s/Edwin A. Smith by Power of Attorney for Derek Y. Hahm	10/02/2020
	** Signature of Reporting Person	Date
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