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