---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-24-027868"
form_type: "8-K"
ticker: "BROS"
cik: "0001866581"
company_name: "Dutch Bros Inc."
filed_at: "2024-06-12T23:59:59+00:00"
generated_at: "2026-06-01T04:55:27.791815+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Dutch Bros secondary offering of 8.76M shares closes; sponsor voting power drops to 1.1%

## Summary
- Selling stockholders sold 8,762,700 Class A shares at $39.30/share; company receives no proceeds.
- Stockholders Agreement with TSG terminated automatically as Class C/D shares fell below 10% threshold after offering.
- Sean Sullivan resigned as Class C Director; no Class C Director will remain.
- Class C shares voting power reduced to 1 vote/share; Class D shares converted to Class A; sponsor now holds ~1.1% voting power.
- Underwriters have 30-day lock-up on insider sales.

## SEC filing metadata
- accession: 0001628280-24-027868
- form_type: 8-K
- ticker: BROS
- cik: 0001866581
- company_name: Dutch Bros Inc.
- filed_at: 2024-06-12T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1866581/000162828024027868/0001628280-24-027868-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1866581/000162828024027868/bros-20240610.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-24-027868
- JSON: https://secwatch.observer/filing/0001628280-24-027868.json
- Plain text: https://secwatch.observer/filing/0001628280-24-027868.txt

## Key facts
- Executive change
  Sean Sullivan resigned as Class C Director at Dutch Bros Inc..
  - Action: resigned
  - Role: Class C Director
  source text: Upon the closing of the Offering and the resulting reduction in the outstanding shares of Class C common stock and Class D common stock, on June [12], 2024, Sean Sullivan, who served as the remaining Class C Director, resigned from the Board in accordance with the Certificate of Incorporation and the Stockholders Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1866581/000162828024027868/0001628280-24-027868-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.