Dutch Bros Elects New Directors, Updates Executive Pay
Ticker: BROS · Form: 8-K · Filed: Jun 3, 2024 · CIK: 1866581
| Field | Detail |
|---|---|
| Company | Dutch Bros INC. (BROS) |
| Form Type | 8-K |
| Filed Date | Jun 3, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.00001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
Related Tickers: BROS
TL;DR
Dutch Bros adds new board members and updates exec pay packages.
AI Summary
Dutch Bros Inc. announced on May 31, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new Class II directors, J. Scott Tozier and Sarah L. McMath, to serve until the 2027 annual meeting. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Christine L. Barone, and Chief Financial Officer, Brian E. O'Malley, detailing their compensation packages.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and management stability.
Key Players & Entities
- Dutch Bros Inc. (company) — Registrant
- J. Scott Tozier (person) — Newly elected Class II Director
- Sarah L. McMath (person) — Newly elected Class II Director
- Christine L. Barone (person) — Chief Executive Officer
- Brian E. O'Malley (person) — Chief Financial Officer
- May 31, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected directors for Dutch Bros Inc.?
J. Scott Tozier and Sarah L. McMath were elected as new Class II directors.
Until when will the newly elected directors serve?
The newly elected directors will serve until the company's 2027 annual meeting of stockholders.
What specific items are covered under the 'Compensatory Arrangements of Certain Officers' section?
This section covers new employment agreements for the Chief Executive Officer and Chief Financial Officer, detailing their compensation.
What is the exact date of the earliest event reported in this 8-K filing?
The earliest event reported is dated May 31, 2024.
What is the principal executive office address for Dutch Bros Inc.?
The principal executive offices are located at 110 SW 4th Street, Grants Pass, Oregon, 97526.
Filing Stats: 862 words · 3 min read · ~3 pages · Grade level 10.3 · Accepted 2024-06-03 16:22:29
Key Financial Figures
- $0.00001 — tered Class A Common Stock, par value $0.00001 per share BROS The New York Stock Excha
Filing Documents
- bros-20240531.htm (8-K) — 31KB
- a2024-05x28serviceonboar.htm (EX-10.1) — 7KB
- exh991_bodapptx062024.htm (EX-99.1) — 10KB
- a2024-05x28serviceonboar001.jpg (GRAPHIC) — 241KB
- a2024-05x28serviceonboar002.jpg (GRAPHIC) — 258KB
- a2024-05x28serviceonboar003.jpg (GRAPHIC) — 76KB
- bros-20240531_g1.jpg (GRAPHIC) — 8KB
- image.jpg (GRAPHIC) — 25KB
- image1.jpg (GRAPHIC) — 532KB
- toc1a.jpg (GRAPHIC) — 17KB
- 0001866581-24-000197.txt ( ) — 1782KB
- bros-20240531.xsd (EX-101.SCH) — 2KB
- bros-20240531_lab.xml (EX-101.LAB) — 22KB
- bros-20240531_pre.xml (EX-101.PRE) — 13KB
- bros-20240531_htm.xml (XML) — 3KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On June 3, 2024, the Company issued a press release announcing the appointment of Mr. Hart to the Board. A copy of the Company's press release announcing the appointment is attached hereto as Exhibit 99.1. The information included in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, nor shall it be deemed incorporated by reference in any filing by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits Exhibit No. Description 10.1 Offer Letter, dated as of May 28, 2024, by and between Dutch Bros Inc. and Gerard J. Hart 9 9.1 Press release dated June 3, 2024 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: June 3, 2024 By: /s/ Joshua Guenser Joshua Guenser Chief Financial Officer