Dutch Bros Appoints New Director with Restaurant Experience
Ticker: BROS · Form: 8-K · Filed: Apr 2, 2024 · CIK: 1866581
Sentiment: neutral
Topics: corporate-governance, board-appointment
Related Tickers: BLMN
TL;DR
Dutch Bros adds Bloomin' Brands ex-CEO Charles Docter to its board.
AI Summary
Dutch Bros Inc. announced on April 1, 2024, the appointment of Charles L. Docter as a new Class II director, effective immediately. Docter brings extensive experience in the restaurant industry, having previously served as the Chief Executive Officer of Bloomin' Brands, Inc. He will serve on the Audit Committee and the Compensation Committee of the Board.
Why It Matters
The addition of a director with significant experience in the restaurant sector could bring valuable strategic insights to Dutch Bros' board, potentially influencing future growth and operational strategies.
Risk Assessment
Risk Level: low — This filing is a routine corporate governance update regarding board appointments and does not involve significant financial or operational changes.
Key Players & Entities
- Dutch Bros Inc. (company) — Registrant
- Charles L. Docter (person) — Newly appointed Class II director
- Bloomin' Brands, Inc. (company) — Previous employer of Charles L. Docter
- April 1, 2024 (date) — Effective date of appointment
FAQ
Who is Charles L. Docter and what is his role at Dutch Bros Inc.?
Charles L. Docter has been appointed as a Class II director of Dutch Bros Inc., effective April 1, 2024.
What is Charles L. Docter's relevant experience?
Charles L. Docter previously served as the Chief Executive Officer of Bloomin' Brands, Inc., and has extensive experience in the restaurant industry.
On which committees will Mr. Docter serve?
Mr. Docter will serve on the Audit Committee and the Compensation Committee of the Board.
When was the appointment effective?
The appointment of Charles L. Docter was effective as of April 1, 2024.
What is the significance of a Class II director?
Class II directors are typically elected for a three-year term and are part of the staggered board structure, meaning only a portion of the board is up for election each year.
Filing Stats: 1,081 words · 4 min read · ~4 pages · Grade level 10.9 · Accepted 2024-04-02 16:11:22
Key Financial Figures
- $0.00001 — tered Class A Common Stock, par value $0.00001 per share BROS The New York Stock Excha
- $500,000 — h will receive an annual base salary of $500,000, a signing bonus of $250,000, and is el
- $250,000 — salary of $500,000, a signing bonus of $250,000, and is eligible to receive an annual c
- $750,000 — shares of Class A common stock equal to $750,000, and he is also eligible for an annual
- $550,000 — shares of Class A common stock equal to $550,000. Each award will vest and settle subjec
- $200,000 — for relocation costs and expenses up to $200,000 and cell phone and internet stipends, a
Filing Documents
- bros-20240401.htm (8-K) — 32KB
- filingversion2023-12x15o.htm (EX-10.1) — 13KB
- filingversion2023-12x15s.htm (EX-10.2) — 13KB
- bros-20240401_g1.jpg (GRAPHIC) — 8KB
- filingversion2023-12x15o001.jpg (GRAPHIC) — 260KB
- filingversion2023-12x15o002.jpg (GRAPHIC) — 261KB
- filingversion2023-12x15o003.jpg (GRAPHIC) — 331KB
- filingversion2023-12x15o004.jpg (GRAPHIC) — 158KB
- filingversion2023-12x15s001.jpg (GRAPHIC) — 241KB
- filingversion2023-12x15s002.jpg (GRAPHIC) — 328KB
- filingversion2023-12x15s003.jpg (GRAPHIC) — 185KB
- filingversion2023-12x15s004.jpg (GRAPHIC) — 50KB
- 0001866581-24-000117.txt ( ) — 2713KB
- bros-20240401.xsd (EX-101.SCH) — 2KB
- bros-20240401_lab.xml (EX-101.LAB) — 22KB
- bros-20240401_pre.xml (EX-101.PRE) — 13KB
- bros-20240401_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 1 0.1 Offer Letter, dated as of December 15, 2023, by and between Dutch Bros Inc. and Sumitro Ghosh 1 0.2 Participation Agreement, dated as of December 15, 2023, by and between Dutch Bros Inc. and Sumitro Ghosh 104 Cover Page with Interactive Data File (formatted as Inline XBRL with applicable taxonomy extension information contained in Exhibits 101)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DUTCH BROS INC. (Registrant) Date: April 2, 2024 By: /s/ Charles L. Jemley Charles L. Jemley Chief Financial Officer