8-K filed February 27, 2024, 6:59 PM ET ticker SAM CIK 0000949870

leadership confidence high sentiment neutral materiality 0.75

Boston Beer CEO David Burwick to retire March 31; Michael Spillane appointed successor

BOSTON BEER CO INC

Burwick retires as President & CEO effective March 31, 2024; remains advisor through March 2026.
Michael Spillane, current board member and lead director, becomes President & CEO on April 1, 2024.
Burwick's transition: salaried until June 30, 2024, then advisory; equity continues vesting; no further grants.
Spillane receives $861K base salary, $1.6M signing bonus, $5M equity grant (60% options, 40% performance RSUs).
Under Burwick, revenue doubled from $850M to >$2B; Truly and Twisted Tea became billion-dollar brands.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

David A. Burwick

President and Chief Executive Officer

SAM · BOSTON BEER CO INC

Effective: 2024-03-31
Successor: Michael Spillane
Filed: February 27, 2024, 6:59 PM ET

David A. Burwick, President and Chief Executive Officer, has decided to step down from his position and as a member of the Company’s Board of Directors, effective March 31, 2024.

Departed

Michael Spillane

Lead Director

SAM · BOSTON BEER CO INC

Effective: 2024-03-04
Successor: Meghan V. Joyce
Filed: February 27, 2024, 6:59 PM ET

Mr. Spillane will step down from his positions as Lead Director

Appointed (interim)

Meghan V. Joyce

Lead Director

SAM · BOSTON BEER CO INC

Effective: 2024-04-01
Filed: February 27, 2024, 6:59 PM ET

He will be succeeded as Lead Director on an interim basis by Meghan V. Joyce

Appointed

Michael Spillane

President and Chief Executive Officer

SAM · BOSTON BEER CO INC

Effective: 2024-04-01
Filed: February 27, 2024, 6:59 PM ET

assume the position of President and CEO on April 1, 2024

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

David A. Burwick departed as President and Chief Executive Officer at BOSTON BEER CO INC.

Action: stepped down
Role: President and Chief Executive Officer

Exact text from the filing

David A. Burwick, President and Chief Executive Officer, has decided to step down from his position and as a member of the Company’s Board of Directors, effective March 31, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Spillane departed as Lead Director at BOSTON BEER CO INC.

Action: stepped down
Role: Lead Director

Exact text from the filing

Mr. Spillane will step down from his positions as Lead Director

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Meghan V. Joyce was appointed as Lead Director at BOSTON BEER CO INC.

Action: appointed
Role: Lead Director

Exact text from the filing

He will be succeeded as Lead Director on an interim basis by Meghan V. Joyce

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Spillane was appointed as President and Chief Executive Officer at BOSTON BEER CO INC.

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

assume the position of President and CEO on April 1, 2024

View on SEC.gov

BOSTON BEER CO INC filing history →

Source: SEC EDGAR

accession 0000950170-24-021172

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