Kathryn George Form 4 Dutch Bros / Kathryn George 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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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^*

George Kathryn

(Last) (First) (Middle)

C/O DUTCH BROS INC.

PO BOX 1929

(Street)

GRANTS PASS OR 97528-0163

(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	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/16/2023

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
Class A Common Stock	05/16/2023		M		628	A	$0	2,509	D
Class A Common Stock	05/16/2023		M		3,032	A	$0	5,541	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	(1)	05/16/2023		M			628	(2)	(2)	Class A Common Stock	628	$0	0	D
Restricted Stock Units	(1)	05/16/2023		A		3,032		(3)	(3)	Class A Common Stock	3,032	$0	3,032	D
Restricted Stock Units	(1)	05/16/2023		M			3,032	(3)	(3)	Class A Common Stock	3,032	$0	0	D
Restricted Stock Units	(1)	05/16/2023		A		3,752		(4)	(4)	Class A Common Stock	3,752	$0	3,752	D

Explanation of Responses:

1. The restricted stock units represent a contingent right to receive a corresponding number of shares of the Class A Common Stock of the Issuer upon vesting.

2. The reporting person received an award of restricted stock units, 25% of which vested on each of September 30, 2022, December 31, 2022, March 31, 2023 and the date of the Issuer's 2023 annual stockholder meeting, which occurred on May 16, 2023.

3. The reporting person received an award of restricted stock units, 100% of which vested on May 16, 2023.

4. The reporting person received an award of restricted stock units, 25% of which will vest on each of September 30, 2023, December 31, 2023, March 31, 2024, and the remaining 25% will vest on the earlier of (i) June 30, 2024, and (ii) the date of the Issuer's 2024 annual stockholder meeting.

Remarks:

	/s/ Joshua Lute, Attorney-in-Fact for Kathryn George	05/17/2023
	** 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).
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