DM Trust Aggregator, LLC filed a Form 144 notice with the SEC on November 3, 2026, disclosing a proposed sale of 256,708 shares of Dutch Bros, Inc. common stock on the NYSE, with an aggregate market value of $11,261,779.96.

Key Highlights

  • Proposed sale: 256,708 shares of Dutch Bros, Inc. common stock with an aggregate market value of $11,261,779.96, with an approximate sale date of November 3, 2026.
  • Seller identity: DM Trust Aggregator, LLC, identified as a 10% stockholder of the issuer, is the account holder for whose benefit the securities are to be sold.
  • Original acquisition: The 256,708 shares were acquired on September 27, 2018, as Founders Shares from the issuer, with payment recorded as N/A.
  • Broker named: Morgan Stanley Smith Barney LLC Executive Financial Services, 1 New York Plaza, 8th Floor, New York, NY 10004, is listed as the executing broker.
  • 10b5-1 plan date: The filing indicates a Rule 10b5-1 plan adoption date of February 19, 2026.
  • Prior three-month sales: Combined 10b5-1 sales by DM Trust Aggregator, LLC and DM Individual Aggregator, LLC between October 20 and November 2, 2026 totaled 1,573,016 shares across six disclosed transactions.
  • Shares outstanding: The filing states 137,940,798 shares of common stock outstanding at the time of the notice.

DM Trust Aggregator's Proposed Dutch Bros Stock Sale Under Rule 144

According to the filing, DM Trust Aggregator, LLC, a 10% stockholder of Dutch Bros, Inc. (NYSE:BROS), submitted a Form 144 notice dated November 3, 2026, disclosing its intent to sell 256,708 shares of common stock. The aggregate market value of the proposed sale is listed as $11,261,779.96. The filing identifies Morgan Stanley Smith Barney LLC Executive Financial Services as the named broker for the transaction.

The filing discloses that the shares proposed for sale were originally acquired on September 27, 2018, as Founders Shares from the issuer. The notice was signed by Travis Mason Boersma. The filing also indicates that the sale is being conducted under a Rule 10b5-1 trading plan adopted on February 19, 2026. By signing the notice, the filer represents, as of that plan adoption date, that no material adverse information regarding the issuer's current and prospective operations that has not been publicly disclosed was known at the time.

The filing's required disclosure of sales during the prior three months lists six separate 10b5-1 transactions by DM Trust Aggregator, LLC and DM Individual Aggregator, LLC. Those transactions took place on October 20, October 29, October 30, and November 2, 2026, with gross proceeds reported as $4,179,791.82, $2,231,601.67, $11,711,075.60, $6,252,789.81, $1,651,992.35, $882,120.71, $27,963,239.22, and $14,930,074.20, respectively, across the two entities. Total shares outstanding are reported in the filing as 137,940,798.

What Was Disclosed

DM Trust Aggregator, LLC filed a Rule 144 notice proposing to sell 256,708 Dutch Bros, Inc. common shares valued at $11,261,779.96, originally acquired as Founders Shares in 2018, under a 10b5-1 plan adopted February 19, 2026.