8-K
filed May 22, 2023, 7:59 PM ET
ticker SAM
CIK 0000949870
leadership
confidence high
sentiment positive
materiality 0.75
Boston Beer hires CSCO, boosts buyback authorization by $269M to $1.2B
BOSTON BEER CO INC
- Philip Hodges named Chief Supply Chain Officer; base salary $615K, bonus target 60%, one-time equity awards totaling ~$8M.
- Board increased stock repurchase limit by $269M to $1.2B (from $931M).
- Shareholder meeting: say-on-pay approved with ~88% support; annual advisory vote on executive compensation adopted.
- Board appointed committee assignments; Michael Spillane named Lead Director.
- Hodges advised since May 2022, helped reduce freight/warehousing costs and improve forecasting.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Philip A. Hodges was appointed as Chief Supply Chain Officer at BOSTON BEER CO INC.
- Action
- hired
- Role
- Chief Supply Chain Officer
Exact text from the filing
On May 22, 2023, the Company announced that it has hired Philip A. Hodges, age 56, as its Chief Supply Chain Officer.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
BOSTON BEER CO INC shareholders approved Election of five Class B Directors for a one-year term at the 2023-05-17 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
The sole holder of all of the Company's outstanding shares of Class B Stock voted all of such shares for the election of the following five (5) Class B Directors
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
BOSTON BEER CO INC shareholders approved Advisory resolution on executive compensation at the 2023-05-17 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
7,211,848 votes for; 655,493 votes against; 145,314 abstentions, and no broker non-votes.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
BOSTON BEER CO INC shareholders approved Election of three Class A Directors for a one-year term at the 2023-05-17 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
Meghan V. Joyce received 4,143,466 votes for and 3,869,107 votes withheld; Michael Spillane received 4,398,504 votes for and 3,614,069 votes withheld; and Jean-Michel Valette received 4,107,052 votes for and 3,905,521 votes withheld. There were no broker non-votes in connection with the election of the Class A Directors.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
BOSTON BEER CO INC shareholders approved Advisory vote on frequency of future advisory votes on executive compensation at the 2023-05-17 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
7,409,166 votes for "every year"; 11,161 votes for "every two years"; 80,696 votes for "every three years"; 511,631 abstentions; and no broker non-votes.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.7
BOSTON BEER CO INC shareholders approved Ratification of Deloitte & Touche LLP as independent auditor at the 2023-05-17 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2023-05-17
Exact text from the filing
The Class B Stockholder similarly ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the Company's fiscal year ending December 30, 2023.
View on SEC.gov
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