Boston Beer Co Inc 8-K, filed Nov 15, 2023
Boston Beer Co Inc (SAM)
About this 8-K
Boston Beer Co Inc filed this 8-K on November 15, 2023, reporting on events of November 6, 2023.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On November 6, 2023, President and Chief Executive Officer David A. Burwick entered into an individual 10b5-1 plan for trading in shares of the Company’s Class A Common Stock. The maximum number of shares that may be sold pursuant to this 10b5-1 plan is 1,116 shares. The purpose of this 10b5-1 plan is to provide liquidity and investment diversification and to ensure that certain options are transacted upon prior to expiration. Once executed, transactions under this 10b5-1 plan will be disclosed publicly through Form 4 and/or Form 144 filings with the Securities and Exchange Commission to the extent applicable.
On November 13, 2023, the Company entered into a 10b5-1 plan to repurchase up to $50 million of the Company’s Class A Common Stock during the period commencing January 3, 2024 and ending March 31, 2024. Consistent with the Company’s policy, Mr. Burwick recused himself from discussions related to the execution parameters of the Company’s 10b5-1 Plan.
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.
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The Boston Beer Company, Inc. |
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Date: |
November 15, 2023 |
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/s/ David A. Burwick |
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Name: David A. Burwick |