C. James Koch, Chairman, President and CEO of Boston Beer Co Inc, filed a Form 4 on October 28, 2026, reporting the exercise of two stock option agreements and the resulting changes in his beneficial ownership of Class A Common shares.

Key Highlights

  • First option exercise: Koch acquired 2,745 shares of Class A Common under the 1-1-2017 Option Agreement at an exercise price of $169.85 per share on October 28, 2026.
  • Second option exercise: Koch acquired 1,511 shares of Class A Common under the 1-1-2018 Option Agreement at an exercise price of $191.10 per share on the same date.
  • Direct holdings after transactions: Following the two exercises, Koch directly held 16,483 shares of Class A Common, according to the filing.
  • Indirect holdings: The filing reports an additional 122,923 shares held indirectly by a foundation managed by Koch, plus further indirect interests through an LLC managed by his spouse, custodial accounts, a trust, adult children, and a spousal trust.
  • Both options fully exercised: Each option agreement shows 0.00 derivative securities remaining after the reported transactions.
  • Filing signed under POA: The form was signed by Michael G. Andrews under power of attorney for the benefit of Koch C. James.

Koch Exercises 2017 and 2018 Option Agreements, Expanding Direct Class A Stake

According to the Form 4 filed with the SEC on October 28, 2026, C. James Koch, who serves as Chairman, President and CEO of Boston Beer Co Inc (listed as SAM on the exchange), exercised two previously granted stock option agreements on that date. The first, designated the 1-1-2017 Option Agreement, carried a conversion price of $169.85 and covered 2,745 shares of Class A Common stock. The second, the 1-1-2018 Option Agreement, carried a conversion price of $191.10 and covered 1,511 shares of Class A Common stock. Both transactions are coded "M," indicating exercises of in-the-money or at-the-money derivative securities.

The filing notes that the 2017 option vested in three annual installments, with the first installment on March 1, 2020 and the final vesting on January 1, 2022. The 2018 option followed the same vesting schedule, with the first installment also on March 1, 2020 and the final vesting on January 1, 2022. Both option agreements show an expiration date of December 31, 2026 and December 31, 2027, respectively, and each shows 0.00 derivative securities remaining following the reported transactions. The price of each derivative security at exercise is listed as $0.00.

In addition to 16,483 shares held directly after the transactions, the filing discloses that Koch has indirect beneficial ownership in several other capacities: 122,923 shares are held by a foundation managed by Koch; 33,248 shares are held by an LLC managed by his spouse; 23,486 shares are held in custodial accounts for children under UGTMA; 5,000 shares are held by a trust in which Koch serves as trustee; 2,532 shares are held by his spouse in trust for children; and 3,656 shares are held by adult children, for which the filing states Koch "disclaims beneficial ownership."

What Was Disclosed

Boston Beer Co Inc's Chairman, President and CEO C. James Koch reported the exercise of two stock option agreements totaling 4,256 Class A Common shares on October 28, 2026, bringing his direct holdings to 16,483 shares, with substantial additional indirect interests disclosed across multiple entities.