Dutch Bros Co-Founder Travis Boersma's Entities Sell $18 Million of Stock
Two entities managed by Dutch Bros co-founder and Executive Chairman Travis Boersma sold $18 million of the coffee chain's stock on Thursday, according to Form 4 filings with the SEC on Friday.
DM Trust Aggregator, LLC sold 266,000 Class A shares and DM Individual Aggregator, LLC sold 142,023 Class A shares on Oct. 29, the filings show. Both sales were at a weighted average price of $44.0266, in trades from $44.00 to $44.25. Together the 408,023 shares brought in $17,963,865.
Who holds the shares
Boersma is the manager of both entities. Several members hold ownership interests in them, including Boersma, according to the filings. He disclaims beneficial ownership except to the extent of his financial interest. Boersma is a director and is reported as a 10% owner.
After the sales, DM Trust Aggregator holds 4,153,652 Class A shares and DM Individual Aggregator holds 2,218,068 shares, for a combined 6,371,720. The sales reduced the entities' combined holdings by 6.0%.
Planned in February
Each sale was made automatically under a Rule 10b5-1 trading plan adopted by the entity on Feb. 19, 2026. These plans set up sales in advance, so the timing of a trade is generally fixed well before it happens.
What it means for investors
Founders often sell gradually through planned sales to diversify or for estate planning. A single scheduled sale is a limited signal by itself, but investors tend to track a founder's ongoing selling because it shows how quickly a large stake is being reduced.
By the numbers
- Shares sold: 408,023 Class A
- Weighted average price: $44.0266
- Value: $17.96 million
- Trade date: Oct. 29, 2026
- Combined entity holdings after the sales: 6,371,720 shares
Sources
- Form 4 for Travis Boersma, Dutch Bros, filed Oct. 30, 2026 (accession 0001866581-26-000164)
- Form 4 for DM Trust Aggregator, LLC, Dutch Bros, filed Oct. 30, 2026 (accession 0001866581-26-000166)
- Form 4 for DM Individual Aggregator, LLC, Dutch Bros, filed Oct. 30, 2026 (accession 0001866581-26-000167)
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
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