secwatch.observer — SEC 8-K summary
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Issuer:     BOSTON BEER CO INC (SAM)
CIK:        0000949870
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0000950170-24-021172
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949870/000095017024021172/0000950170-24-021172-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949870/000095017024021172/sam-20240223.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-021172

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