Form 4: Boston Beer CEO David Burwick Reports Stock Transactions
SEC Form 4
David Burwick, President and CEO of Boston Beer Co, reports stock transactions including tax withholding and vesting of restricted stock units and stock options.
Summary
- David A. Burwick, the President and CEO of Boston Beer Company, reported changes in his beneficial ownership of the company's stock.
- On March 1, 2024, shares were withheld to cover tax obligations related to the vesting of 5,223 Restricted Stock Units (RSUs).
- He also acquired shares through the vesting of performance-based and time-based stock options granted in previous years.
- Burwick directly owns 45,896 shares of Class A Common stock after the reported transactions.
- He also indirectly owns 10,457 shares through a Spousal Lifetime Access Trust.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing of stock transactions related to executive compensation.
Positives
- The vesting of stock options and RSUs suggests the executive's continued alignment with the company's long-term performance.
Industry Context
Executive stock transactions are routinely monitored by investors as they can provide insights into management's confidence in the company's prospects.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect standard executive compensation practices.
Key Dates
| Date | Description |
|---|---|
| 03/01/2020 | Grant date of Performance-Based Stock Options pursuant to the Issuer's Restated Employee Equity Incentive Plan (EEIP). |
| 03/01/2021 | Grant date of Performance-Based and Time-Based Stock Options pursuant to the Issuer's EEIP. |
| 02/2022 | Compensation Committee determined that the performance criteria had been achieved for the options granted on March 1, 2020. |
| 03/01/2022 | First vesting date of Performance-Based Stock Options granted on March 1, 2020. |
| 02/2023 | Compensation Committee determined that the performance criteria had been achieved for the options granted on March 1, 2021. |
| 03/01/2023 | First vesting date of Performance-Based Stock Options granted on March 1, 2021. |
| 03/01/2024 | Date of reported transactions including tax withholding, vesting of RSUs, and vesting of stock options. |
| 02/28/2030 | Expiration date of Stock Options granted on March 1, 2020. |
| 02/28/2031 | Expiration date of Stock Options granted on March 1, 2021. |
| 03/04/2024 | Date of signature of the report. |
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