# EDGAR Filing Document

**Accession Number:** 0001866581
**File Stem:** 0001866581-26-000063
**Filing Date:** 2026-4
**Character Count:** 8956
**Document Hash:** b967bdfb5ff4b640e2a56d713ff39e27
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001866581-26-000063.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0001866581-26-000063

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260422

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Boersma Travis
- **CENTRAL INDEX KEY:** 0001883154

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40798
- **FILM NUMBER:** 26895691

**MAIL ADDRESS:**
- **STREET 1:** C/O DUTCH BROS INC.
- **STREET 2:** 1930 W RIO SALADO PKWY
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dutch Bros Inc.
- **CENTRAL INDEX KEY:** 0001866581
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-EATING & DRINKING PLACES [5810]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 871041305
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 1930 W RIO SALADO PKWY
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281
- **BUSINESS PHONE:** (877) 899-2767

**MAIL ADDRESS:**
- **STREET 1:** 1930 W RIO SALADO PKWY
- **CITY:** TEMPE
- **STATE:** AZ
- **ZIP:** 85281

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

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Boersma Travis<br><sub>(Last) (First) (Middle)</sub><br>C/O DUTCH BROS INC.<br>1930 W RIO SALADO PKWY<br><sub>(Street)</sub><br>TEMPE, AZ 85281<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2026-04-22 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [X] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_Executive Chairman of Board_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Dutch Bros Inc. [ BROS ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class B Common Stock | 2026-04-22 |  | J<sup>(1)</sup> |  | 19318 | D | 0<sup>(1)</sup> | 20579218 | I | By DM Trust Aggregator, LLC<sup>(2)</sup> |
| Class B Common Stock | 2026-04-22 |  | J<sup>(1)</sup> |  | 13277 | D | 0<sup>(1)</sup> | 14143857 | I | By DM Individual Aggregator, LLC<sup>(2)</sup> |
| Class B Common Stock | 2026-04-22 |  | J<sup>(1)</sup> |  | 427 | D | 0<sup>(1)</sup> | 454849 | I | By DMI Holdco LLC<sup>(2)</sup> |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Class A Common Units<sup>(1)</sup> | <sup>(2)</sup> | 2026-04-22 |  | J<sup>(3)</sup> |  |  | 27341 | <sup>(2)</sup> | <sup>(2)</sup> | Class A Common Stock | 27341 | 0<sup>(3)</sup> | 29125560 | I | By DM Trust Aggregator, LLC<sup>(4)</sup> |
| Class A Common Units<sup>(1)</sup> | <sup>(2)</sup> | 2026-04-22 |  | J<sup>(3)</sup> |  |  | 17195 | <sup>(2)</sup> | <sup>(2)</sup> | Class A Common Stock | 17195 | 0<sup>(3)</sup> | 18316816 | I | By DM Individual Aggregator, LLC<sup>(4)</sup> |
| Class A Common Units<sup>(1)</sup> | <sup>(2)</sup> | 2026-04-22 |  | J<sup>(3)</sup> |  |  | 670 | <sup>(2)</sup> | <sup>(2)</sup> | Class A Common Stock | 670 | 0<sup>(3)</sup> | 713090 | I | By DMI Holdco LLC<sup>(4)</sup> |

---

### Footnotes:

(1) Represents Class A Common Units of Dutch Mafia, the operating company of the Issuer.

(2) In accordance with the limited liability company agreement of Dutch Mafia, Class A Common Units of Dutch Mafia are exchangeable for shares of Class A Common Stock of the Issuer on a one-for-one basis at the discretion of the holder, subject to certain exceptions, conditions and adjustments. Certain Class A Common Units of Dutch Mafia are paired with an equal number of shares of Class B Common Stock of the Issuer ("Paired Units"). Upon the exchange of Paired Units for Class A Common Stock of the Issuer, the associated shares of Class B Common Stock are surrendered to and canceled by the Issuer. The Class A Common Units of Dutch Mafia and the Class B Common Stock of the Issuer do not have an expiration date, and the holders thereof are not required to pay an exercise price in connection with the exchanges.

(3) On April 22, 2026, the Class A Common Units of Dutch Mafia, LLC ("Dutch Mafia") were recapitalized through a reverse unit split, which resulted in the cancellation without consideration of 33,022 shares of the Issuer's Class B Common Stock, in accordance with the limited liability company agreement of Dutch Mafia (the "Recapitalization"). As a result of the Recapitalization, the Class A Common Units of Dutch Mafia beneficially owned by DM Trust Aggregator, LLC, DM Individual Aggregator, LLC and DMI Holdco LLC were each reduced by 27,341 units, 17,195 units and 670 units, respectively, and the shares of Class B Common Stock of the Issuer beneficially owned by DM Trust Aggregator, LLC, DM Individual Aggregator, LLC and DMI Holdco LLC were each reduced by 19,318 shares, 13,277 shares and 427 shares, respectively.

(4) The Reporting Person is the manager of DM Trust Aggregator, LLC, DM Individual Aggregator, LLC and DMI Holdco 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.

**Signature:** /s/ Thomas P. Conaghan, Attorney-in-Fact for Travis Boersma  
**Date:** 2026-04-24

### Remarks:

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.**