Director Cynthia A. Fisher of Boston Beer Co Inc filed a Form 4 on November 2, 2026, disclosing the exercise of 1,698 stock options in Class A Common stock on October 30, 2026, at a price of $140.05 per share.

Key Highlights

  • Transaction type: Fisher exercised 1,698 options (transaction code M) tied to a 5-18-2017 Stock Option grant with an exercise price of $140.05.
  • Transaction date: The transaction was executed on October 30, 2026.
  • Direct beneficial ownership after transaction: Fisher directly holds 6,097 shares of Class A Common stock following the reported transaction, including 358 shares of restricted stock subject to vesting conditions.
  • Derivative securities remaining: Following the exercise, Fisher holds 0.00 derivative securities directly from the 5-18-2017 Stock Option grant, which has an expiration date of May 17, 2027.
  • Indirect holdings: Fisher indirectly controls additional Class A Common shares through a foundation (122,923 shares), two LLCs (33,248 and 3,656 shares), shares held by a spouse as custodian for children under UGTMA (23,486 shares), and as trustee in trust for children (2,532 shares), with beneficial ownership of certain indirect holdings expressly disclaimed except to the extent of her pecuniary interest.
  • Filing signed under POA: The form was signed by Michael G. Andrews under a power of attorney for the benefit of Cynthia A. Fisher, dated November 2, 2026.

Cynthia Fisher's October 2026 Option Exercise at Boston Beer Co

According to the filing, Cynthia A. Fisher, a director of Boston Beer Co Inc (NYSE:SAM), acquired 1,698 shares of Class A Common stock on October 30, 2026, through the exercise of options under the 5-18-2017 Stock Option grant. The exercise price was $140.05 per share, and the price of the derivative security at exercise was reported as $0.00. The option was exercisable as of May 18, 2017, and carries an expiration date of May 17, 2027.

Following the transaction, the filing reports Fisher directly holds 6,097 shares of Class A Common stock. The filing notes that 358 of those directly held shares are restricted stock subject to vesting conditions. The exercised options are fully exhausted, with 0.00 derivative securities of this grant remaining in Fisher's direct ownership.

Fisher also reports substantial indirect beneficial ownership across several arrangements. The filing lists 122,923 shares held by a foundation managed by Fisher, 33,248 shares and 3,656 shares held by two LLCs she manages, 23,486 shares held by her spouse as custodian for children under UGTMA, and 2,532 shares held by Fisher as trustee in trust for children. For certain of these indirect holdings, the filing states that Fisher "expressly disclaims beneficial ownership of the securities except to the extent of her pecuniary interest therein."

What Was Disclosed

The filing discloses director Cynthia A. Fisher's exercise of 1,698 Class A Common stock options at $140.05 on October 30, 2026, resulting in direct ownership of 6,097 shares, along with details of her indirect holdings across multiple entities and arrangements.