secwatch.observer — SEC 8-K summary
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Issuer:     BOSTON BEER CO INC (SAM)
CIK:        0000949870
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0000950170-24-018746
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Boston Beer awards 2023 bonuses (95% scale), raises 2024 base salaries 3-4%, grants new RSUs
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- 2023 bonus: Company achieved 95% on bonus scale; CEO Burwick gets $1,032,605, CFO Reynoso $111,000, others $189,850-$432,000.
- 2024 base salaries: Reynoso $624,000 (+4%), Murphy $393,756 (+3%), Hodges $633,450 (+3%), Lysyj $545,432 (+3%); Burwick $860,503 (no change).
- 2024 long-term equity awards: Reynoso $400k each time/performance RSUs, Murphy $125k each, Lysyj $775k each; Burwick opts out.
- New retirement provision: equity awards vest post-retirement if age 60+, 15+ years service, 6 months notice.
- 2024 bonus targets: Burwick 120%, Reynoso 65% (up 5pp), Lysyj 65% (up 5pp), Geist 50% (down 25pp), others unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949870/000095017024018746/0000950170-24-018746-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949870/000095017024018746/sam-20240216.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-018746

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer