DM Trust Aggregator, LLC

10% Owner DM Trust Aggregator, LLC sells 977,890 shares for $60,344,462.27 via 5 transactions (10b5-1 plan, 2026-06-10/11)

DM Trust Aggregator, LLC, a 10% holder of Dutch Bros Inc., executed 5 separate sales totaling 977,890 shares for $60,344,462.27 across June 10–11, 2026, at prices ranging from $60.35 to $64.10 per share (blended average $61.71). The transaction reduced holdings by 977,890 shares (-17.8% vs pre-transaction holdings of 5,492,520 shares), leaving 4,514,630 shares post-transaction. This sale is part of a pre-arranged 10b5-1 trading plan adopted on 2026-02-19, indicating it was scheduled rather than discretionary. The filer's cross-ticker track record shows 20 prior sells with an average 90-day return of -16.5%, though at this ticker specifically, the most recent measurable sale (2025-11-25) generated a 90-day return of -14.5% after the sale; the four prior sales at BROS (May 27–June 1, 2026) are too recent for 30- or 90-day outcomes to be measurable. With Dutch Bros trading at $65.03 today and the stock up 28.3% over 30 days and 37.5% over 90 days, the sale price of $61.71 (blended) sits below current levels, though the P/E of 125.06 and strong revenue growth of 27.9% reflect a richly valued growth profile. The magnitude and recent timing deserve monitoring, but the scheduled 10b5-1 plan status removes any inference about discretionary timing or conviction.

DM Trust Aggregator, LLC (10% Owner) sells 488,945 shares for $28,488,108.18 via scheduled 10b5-1 plan

DM Trust Aggregator, LLC executed two separate sales totaling 488,945 shares for $28,488,108.18 on 2026-05-29 and 2026-06-01, reducing holdings from 5,981,465 shares to 5,492,520 shares. This transaction is part of a pre-arranged 10b5-1 trading plan adopted on 2026-02-19, meaning it was scheduled and non-discretionary. The blended average sale price of $58.26 compares to the current price of $57.86, placing the current stock price 25.7% below its 52-week high of $77.88. The company reported latest-quarter revenue of $464,412,000.00 with net income of $16,097,000.00, and annual revenue growth of 27.9% year-over-year; however, the elevated P/E of 111.27 reflects market valuation expectations that may not be anchored to near-term earnings.

DM Trust Aggregator sold 488,945 shares for $27.5M under pre-arranged 10b5-1 plan; retains 5.98M shares (7.6% reduction).

DM Trust Aggregator, a 10% owner, executed two separate sales totaling 488,945 shares for $27,476,515.04 at a blended average price of $56.20 per share on 2026-05-27 and 2026-05-28. This transaction was conducted pursuant to a pre-arranged 10b5-1 trading plan adopted on 2026-02-19, meaning execution was scheduled rather than discretionary. The seller retains 5,981,465 shares post-transaction, representing a 7.6% reduction in holdings. At current price of $58.00, the stock trades -25.5% from its 52-week high and has posted 30-day and 90-day gains of +4.8% and +8.2% respectively. The company reports quarterly revenue of $464,412,000.00 with net income of $16,097,000.00 and an elevated P/E of 111.54, characteristic of a high-growth profile with annual revenue growth of +27.9%.

DM Trust Aggregator sold 1,534,786 shares for $84,059,951.42 over 2 days, reducing stake to 15,610 shares (-99.0%)

DM Trust Aggregator, a 10% owner of Dutch Bros Inc., executed 8 separate sales totaling 1,534,786 shares (1.53M shares) for $84,059,951.42 ($84.1M) at prices ranging from $52.95 to $57.42 on November 24–25, 2025, at a blended average price of $54.77. This represents a near-complete liquidation of the holding, reducing post-transaction shares to 15,610 from a pre-transaction 1,550,396 shares—a -99.0% reduction in position size. The timing relative to price history is notable: the sales occurred as the stock was -31.7% from its 52-week high of $85.37 and -2.7% from its 30-day opening, yet the insider's prior 5 separate sales at this same ticker (all on 2025-08-25 and 2025-08-22) were 100% well-timed at the 90-day mark, with subsequent returns of -10.3% to -22.3%. The company's fundamentals show strong revenue growth of +32.6% year-over-year and a market cap of $8,987,009,120 ($9.0B), but a very high P/E of 145.70 on net income of $17,495,000 suggests valuation compression. The magnitude and speed of this liquidation by a principal shareholder, combined with the insider's consistent pattern of well-timed exits at this ticker, warrants attention to near-term price momentum and sector sentiment.

10% owner DM Trust Aggregator sold 483,568 shares for $33.3M at BROS on 2025-08-25, reducing stake by 23.8%

DM Trust Aggregator, a 10% owner, executed 4 separate sales totaling 483,568 shares for $33,338,701.21 on 2025-08-25, reducing holdings from 2,033,964 to 1,550,396 shares (-23.8% of pre-transaction holdings). The blended average transaction price of $68.94 sits below the current price of $72.27, and the stock has surged 21.5% over the past 30 days following a series of rapid sales by this insider at BROS (5 prior trades in recent days on 2025-08-21 and 2025-08-22, outcomes not yet measurable). The insider's cross-ticker track record across 20 prior sells shows a 90-day well-timed rate of 100.00%, yet that timing success does not extend to BROS specifically, where prior outcomes remain unresolved. Investors should note the substantial scale of this block sale ($33.3M) from a major shareholder during a period of rapid stock appreciation and earlier rapid selling activity.

10% owner DM Trust Aggregator sells 1,051,218 shares in BROS for $67.9M, reducing stake 34.1% to 2.03M shares

DM Trust Aggregator, LLC executed five separate sales totaling 1,051,218 shares over August 21–22, 2025, at prices ranging from $63.01 to $65.36 and averaging $64.60, for aggregate proceeds of $67,913,241.89. This sale reduced the 10% owner's holdings from 3,085,182 shares to 2,033,964 shares, a -34.1% reduction in post-transaction holdings. The blended average transaction price of $64.60 is below the current price of $69.64 (+8.0% above the average fill), so the insider is not capturing immediate paper gains. Across his cross-ticker track record, the insider's 20 prior open-market sells have shown a 90-day well-timed rate of 100.00%, yet at BROS specifically, only 1 of 1 prior measurable sells was well-timed (on 2025-05-22 with -7.8% 90-day return), reflecting limited historical data at this ticker. Dutch Bros itself trades at a P/E of 188.22 with +32.6% annual revenue growth, unusual fundamentals that may warrant scrutiny alongside this substantial reduction in insider holdings.

10% Owner DM Trust Aggregator sells 985,113 shares ($65.5M) across 7 transactions at blended $66.45; retains 3.09M shares post-sale.

DM Trust Aggregator, LLC, holding 10% of Dutch Bros, executed 7 separate sales totaling 985,113 shares for $65,458,453.27 on May 21–22, 2025, at prices ranging from $65.16 to $68.27 and a blended average of $66.45. This represents a -24.2% reduction from pre-transaction holdings of 4,070,295 shares, leaving 3,085,182 shares post-transaction. The current price of $67.89 sits -20.5% from the 52-week high of $85.37, and the stock is +11.1% over the past 30 days but -10.8% over 90 days. The company carries a high P/E ratio of 242.46 despite solid fundamentals: annual revenue growth of +32.6%, latest quarterly revenue of $355,152,000.00, and net income of $15,353,000.00. The insider's cross-ticker track record shows 20 prior sells averaging -14.0% 90-day returns, and at this specific ticker, a recent prior sell on 2025-02-27 posted a 30-day return of -20.8%, though other recent same-ticker sales (May 20) remain outcome-unmeasured. The substantial dollar magnitude, sustained large post-sale ownership position, and timing within a modestly elevated near-term price environment merit investor awareness of the transaction scale relative to the company's market capitalization.

DM Trust Aggregator LLC sold 549,673 shares of BROS for $37.5M (blended avg $68.24) on 2025-05-20, reducing stake by 11.9%

A 10% owner divested 549,673 shares across 4 separate sales on 2025-05-20, realizing $37,510,151.75 at a blended average price of $68.24. The sale reduces holdings from 4.62M to 4.07M shares. At the current price of $64.90, the stock is down 24.0% from its 52-week high of $85.37, yet the insider executed sales at prices notably above the current level. The scale of this divestiture—nearly 12% of pre-transaction holdings in a single day—constitutes a material reduction in the filer's position. Prior same-ticker sales on 2025-02-27 showed negative 30-day returns of -20.8% and -19.0%, and the cross-ticker track record shows an average 30-day return of -13.8% following prior sells.

DM Trust Aggregator (10% owner) sells 128,837 shares for $9,967,123.11 on 2025-02-27, reducing holdings by 3.5%

A major shareholder holding 3,545,618 shares (3.55M shares) post-transaction executed 5 separate sales totaling 128,837 shares for $9,967,123.11 across a single day at prices ranging from $75.21 to $78.89, with a blended average price of $77.36. This transaction occurred one day after the filer's 5 prior sales on 2025-02-25 and 2025-02-26, indicating an active disposition pattern in the current period. The stock currently trades at $79.16, reflecting a 52-week high of $85.37 and 30-day appreciation of +28.0%, though at a P/E of 193.07 and post-transaction holdings still representing a substantial concentrated position, the fundamental metrics and magnitude of shares retained warrant investor attention to the filer's ongoing capital allocation decisions.

DM Trust Aggregator (10% Owner) sold 524,646 shares over 2 days for $39,167,467.87, reducing stake by 12.5%

DM Trust Aggregator, a 10% owner of Dutch Bros Inc., executed 7 separate sales totaling 524,646 shares for $39,167,467.87 across February 25–26, 2025, at prices ranging from $72.85 to $76.67, with a blended average price of $74.66. The sale reduced the trust's holdings from 4,199,101 shares to 3,674,455 shares, representing a -12.5% reduction in its position. This transaction occurred while BROS is trading at $76.56 (current price), +28.5% over the past 30 days and +42.5% over 90 days, and while the stock trades at a notably elevated P/E of 186.73 relative to net income of $12,644,000. The substantial size, multi-day execution, and reduction of a major shareholder's stake warrant attention to whether this signals liquidity needs, portfolio rebalancing by the trust structure, or a shift in conviction among the company's largest shareholders.