0001562180-23-002111.txt : 20230302 0001562180-23-002111.hdr.sgml : 20230302 20230302095522 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 4 1 primarydocument.xml PRIMARY DOCUMENT X0306 4 2023-03-01 false 0000949870 BOSTON BEER CO INC SAM 0001318320 Burwick David A C/O THE BOSTON BEER COMPANY, INC. ONE DESIGN CENTER PLACE, SUITE 850 BOSTON MA 02210 true true false false President and CEO Class A Common 2023-03-01 4 F false 1119.00 323.80 D 41733.00 D Class A Common 2023-03-01 4 A false 6177.00 0.00 A 47910.00 D Class A Common 10457.00 I In a Spousal Lifetime Access Trust for the benefit of the Reporting Person's Spouse March 1, 2019 Stock Option 312.56 2023-03-01 4 A false 2451.00 0.00 A 2021-03-01 2029-02-28 Class A Common 7352.00 7352.00 D March 1, 2020 Stock Option 370.79 2023-03-01 4 A false 2343.00 0.00 A 2022-03-01 2030-02-28 Class A Common 7029.00 7029.00 D March 1, 2021 Stock Option 1028.71 2023-03-01 4 A false 1482.00 0.00 A 2023-03-01 2031-02-28 Class A Common 4446.00 4446.00 D March 1, 2023 Stock Option 323.80 2023-03-01 4 A false 12430.00 0.00 A 2025-03-01 2033-02-28 Class A Common 12430.00 12430.00 D 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. 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. The shares reported include 16,597 shares of restricted stock subject to vesting conditions. 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. 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. 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. 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. Michael G. Andrews under POA for the benefit of David A. Burwick 2023-03-02