Item 5.02 Departure of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed in the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on February 22, 2022, Quincy B. Troupe advised the Company that he intended to step down from his position as Senior Vice President of Supply Chain. On March 7, 2022, Mr. Troupe and the Company entered into a separation agreement (the "Separation Agreement") finalizing the details of his departure effective April 1, 2022.

Under the terms of the Separation Agreement, and subject to certain conditions set forth therein, (a) Mr. Troupe provided a general release of claims against the Company (the "Release") and reaffirmed that he will continue to comply with the confidentiality, non-compete, and non-solicitation obligations in his employment agreement with the Company; and (b) the Company agreed to pay Mr. Troupe: (1) one million dollars ($1,000,000), less applicable federal, state, local and other employment-related deductions, payable in twenty-six (26) bi-weekly installments (namely, $38,461.54 per bi-weekly pay period), with the first installment commencing as of the first regularly-scheduled payroll date following the effective date of the Release, such first installment to include all payments that have accrued since the separation date; and (2) up to five hundred thousand dollars ($500,000) less federal, state, local and other employment-related deductions, payable in thirteen (13) bi-weekly installments (namely, $38,461.54 per bi-weekly pay period), or until Mr. Troupe starts a role with a new company, whichever comes first, with the first installment commencing as of the first regularly scheduled payroll date following the effective date of the Release, such first installment to include all payments that have accrued since the separation date. The Company will also pay or reimburse Mr. Troupe for certain out-of-pocket expenses otherwise incurred or to be incurred by him.

The foregoing description is qualified in its entirety by reference to the full text of the Separation Agreement, a copy of which is filed with this Current Report as Exhibit 10.1 and is incorporated herein by reference.

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Item 9.01 Financial Statements and Exhibits.



(d) Exhibits.

                                       Exhibit Index
Exhibit
Index     Description
            Separation Agreement between The Boston Beer Company, Inc. and Quincy
10.1      Troupe
104       Cover Page Interactive Data File (embedded within Inline XBRL document)

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