# EDGAR Filing Document

**Accession Number:** 0000949870
**File Stem:** 0001562180-23-002111
**Filing Date:** 2023-3
**Character Count:** 9662
**Document Hash:** 9942708d427e059b713bee85730d775a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001562180-23-002111.hdr.sgml**: 20230302

**ACCESSION NUMBER**: 0001562180-23-002111

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230301

**FILED AS OF DATE**: 20230302

**DATE AS OF CHANGE**: 20230302

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Burwick David A
- **CENTRAL INDEX KEY:** 0001318320

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-14092
- **FILM NUMBER:** 23696773

**MAIL ADDRESS:**
- **STREET 1:** 32 AUTUMN LANE
- **CITY:** NEW CANAAN
- **STATE:** CT
- **ZIP:** 06840
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BOSTON BEER CO INC
- **CENTRAL INDEX KEY:** 0000949870
- **STANDARD INDUSTRIAL CLASSIFICATION:** MALT BEVERAGES [2082]
- **IRS NUMBER:** 043284048
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** ONE DESIGN CENTER PLACE
- **STREET 2:** SUITE 850
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210
- **BUSINESS PHONE:** 617-368-5056

**MAIL ADDRESS:**
- **STREET 1:** ONE DESIGN CENTER PLACE
- **STREET 2:** SUITE 850
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02210

### 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>Burwick David A<br><sub>(Last) (First) (Middle)</sub><br>C/O THE BOSTON BEER COMPANY, INC.<br>ONE DESIGN CENTER PLACE, SUITE 850<br><sub>(Street)</sub><br>BOSTON, MA 02210<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-03-01 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[X] Officer (give title below) [ ] Other (specify below)<br>_President and CEO_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>BOSTON BEER CO INC [ SAM ] | **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 A Common | 2023-03-01 |  | F<sup>(1)</sup> |  | 1119.00 | D | $323.80 | 41733.00 | D |  |
| Class A Common | 2023-03-01 |  | A<sup>(2)</sup> |  | 6177.00 | A | $0.00 | 47910.00<sup>(3)</sup> | D |  |
| Class A Common |  |  |  |  |  |  |  | 10457.00 | I | In a Spousal Lifetime Access Trust for the benefit of the Reporting Person's Spouse |

---

## 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 |
| March 1, 2019 Stock Option | $312.56 | 2023-03-01 |  | A |  | 2451.00 |  | 2021-03-01<sup>(4)</sup> | 2029-02-28 | Class A Common | 7352.00 | $0.00 | 7352.00 | D |  |
| March 1, 2020 Stock Option | $370.79 | 2023-03-01 |  | A |  | 2343.00 |  | 2022-03-01<sup>(5)</sup> | 2030-02-28 | Class A Common | 7029.00 | $0.00 | 7029.00 | D |  |
| March 1, 2021 Stock Option | $1028.71 | 2023-03-01 |  | A |  | 1482.00 |  | 2023-03-01<sup>(6)</sup> | 2031-02-28 | Class A Common | 4446.00 | $0.00 | 4446.00 | D |  |
| March 1, 2023 Stock Option | $323.80 | 2023-03-01 |  | A |  | 12430.00 |  | 2025-03-01<sup>(7)</sup> | 2033-02-28 | Class A Common | 12430.00 | $0.00 | 12430.00 | D |  |

---

### Footnotes:

(1) The Issuer "net withheld" the vesting of a percentage of shares to satisfy the tax obligations of the Reporting Person flowing from the vesting of Restricted Stock Units ("RSUs"). The Reporting Person had a total of 3,264 RSUs vest on March 1, 2023.

(2) On March 1, 2023, the Issuer granted 6,177 RSUs to the Reporting Person under the Issuer's Employee Equity Incentive Plan ("EEIP"). The shares will vest in three installments over a three year period, provided that the Reporting Person remains employed by the Issuer on the applicable vesting dates, and subject to accelerated vesting in certain situations.

(3) The shares reported include 16,597 shares of restricted stock subject to vesting conditions.

(4) The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2019. The extent to which the options were exercisable was dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2020 over Fiscal Year 2018. In February 2021, the Compensation Committee determined that the performance criteria had been achieved, and as such the options vested in three equal installments on March 1 in the years 2021-2023.

(5) The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2020. The extent to which the options were exercisable was dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2021 over Fiscal Year 2019. In February 2022, the Compensation Committee determined that the performance criteria had been achieved, and as such the options vest in three equal installments on March 1 in the years 2022-2024, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.

(6) The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2021. The extent to which the options were exercisable was dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2022 over Fiscal Year 2020. In February 2023, the Compensation Committee determined that the performance criteria had been achieved, and as such the options vest in three equal installments on March 1 in the years 2023-2025, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.

(7) The Performance-Based Stock Options were granted pursuant to the Issuer's EEIP on March 1, 2023. The extent to which the options become exercisable is dependent upon the Company achieving certain compounded annual growth rate targets based on net revenue growth in Fiscal Year 2024 over Fiscal Year 2022. The Compensation Committee will determine if the performance criteria have been achieved prior to March 1, 2025. If the performance criteria is achieved, the options vest in two installments on March 1 in the years 2025-2026, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.

**Signature:** Michael G. Andrews under POA for the benefit of David A. Burwick  
**Date:** 2023-03-02

### 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.**