David L. Grinnell - Mar 1, 2022 Form 4 Insider Report for BOSTON BEER CO INC (SAM)

Role
Vice President of Brewing
Signature
Michael G. Andrews under POA for the benefit of David L. Grinnell
Stock symbol
SAM
Transactions as of
Mar 1, 2022
Transactions value $
$0
Form type
4
Date filed
3/2/2022, 03:25 PM
Previous filing
Jan 4, 2022
Next filing
Jun 7, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SAM Class A Common Tax liability $0 -75 -4.45% $0.00 1.61K Mar 1, 2022 Direct F1, F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SAM March 1, 2019 Stock Option Award $0 +331 +71.8% $0.00 792 Mar 1, 2022 Class A Common 992 $312.56 Direct F3
transaction SAM March 1, 2020 Stock Option Award $0 +363 +50% $0.00 1.09K Mar 1, 2022 Class A Common 1.09K $370.79 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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 251 RSUs vest on March 1, 2022.
F2 The shares reported include 848 shares of restricted stock subject to vesting conditions.
F3 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 vest in three equal installments on March 1 in the years 2021-2023, provided that the Reporting Person remains employed by the Company on the applicable vesting dates, and subject to accelerated vesting in certain situations.
F4 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.