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Compiled from SEC Form N-PX filings and DUTCH BROS INC.’s Form 8-K, filed 2025-05-16 (Item 5.07 on EDGAR). Page generated 02 October 2026.
Explore DUTCH BROS INC. in the interactive database Compare manager voting policies
These tallies are DUTCH BROS INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2025-05-16 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.
| Ballot item | For | Against | Abstain | Withheld | Broker non-votes | Outcome |
|---|---|---|---|---|---|---|
| Elect Director: Travis Boersma | 404,897,463 | 19,343,967 | 81,754 | -- | 20,633,507 | Majority: yes |
| Elect Director: Christine Barone | 422,968,261 | 1,274,286 | 80,637 | -- | 20,633,507 | Majority: yes |
| Elect Director: C. David Cone | 423,451,805 | 777,886 | 93,493 | -- | 20,633,507 | Majority: yes |
| Elect Director: Thomas Davis | 421,943,366 | 2,283,015 | 96,803 | -- | 20,633,507 | Majority: yes |
| Elect Director: Kathryn George | 421,931,210 | 2,300,041 | 91,933 | -- | 20,633,507 | Majority: yes |
| Elect Director: Stephen Gillett | 399,998,267 | 24,229,523 | 95,394 | -- | 20,633,507 | Majority: yes |
| Elect Director: G.J. Hart | 419,893,835 | 4,333,572 | 95,777 | -- | 20,633,507 | Majority: yes |
| Elect Director: Kory Marchisotto | 421,642,742 | 2,585,470 | 94,972 | -- | 20,633,507 | Majority: yes |
| Elect Director: Ann Miller | 394,531,341 | 29,698,038 | 93,805 | -- | 20,633,507 | Majority: yes |
| Elect Director: Todd Penegor | 413,572,817 | 10,655,319 | 95,048 | -- | 20,633,507 | Majority: yes |
| Proposal Two - Ratification of the Appointment of Independent Registered Public Accounting Firm . The appointment of KPMG LLP as the Company's independent registered public accounting firm for the Company's fiscal year ending December 31, 2 | 443,279,090 | 1,556,709 | 120,892 | -- | -- | Majority: yes |
| Proposal Three - Approval, on a Non-binding, Advisory Basis, of the Compensation of our Named Executive Officers . The compensation of the Company's named executive officers was approved, on a non-binding, advisory basis. | 422,363,059 | 1,820,479 | 139,646 | -- | 20,633,507 | Majority: yes |
Source: DUTCH BROS INC., Form 8-K, filed with the SEC on 2025-05-16 — read the filing on EDGAR.
Each item below shows how the 432 asset managers that disclosed a DUTCH BROS INC. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of DUTCH BROS INC.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.
Combines 15 wordings of this item as funds reported it.
99.5% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Proposal Three - Approval, on a Non-binding, Advisory Basis, of the Compensation of our Named Executive Officers . The compensation of the Company's named executive officers was approved, on a non-binding, advisory basis”): 422,363,059 for, 1,820,479 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 421 asset managers below cast 97% of the shares they voted on this item FOR (82,031,200 for, 2,175,363 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Fidelity | 15,629,757 | 0 | 0 | 0 | For |
| Vanguard | 10,912,751 | 0 | 0 | 0 | For |
| T. Rowe Price | 3,826,959 | 0 | 0 | 0 | For |
| 1832 Asset Management L.P. | 3,420,200 | 0 | 0 | 0 | For |
| BlackRock | 2,871,481 | 329 | 0 | 0 | For |
| Invesco | 2,564,692 | 0 | 0 | 0 | For |
| DE Shaw | 2,308,371 | 0 | 0 | 0 | For |
| GEODE CAPITAL MANAGEMENT, LLC | 1,850,769 | 0 | 0 | 0 | For |
| State Street | 1,609,827 | 0 | 0 | 0 | For |
| AllianceBernstein | 1,527,572 | 0 | 0 | 0 | For |
| BAILLIE GIFFORD & CO LTD | 1,475,594 | 0 | 0 | 0 | For |
| Charles Schwab | 1,358,658 | 0 | 0 | 0 | For |
| BAILLIE GIFFORD OVERSEAS LTD | 1,331,259 | 0 | 0 | 0 | For |
| BAILLIE GIFFORD & CO | 1,306,083 | 0 | 0 | 0 | For |
| EAGLE ASSET MANAGEMENT INC | 1,116,886 | 0 | 0 | 0 | For |
| Federated Hermes | 1,105,532 | 117 | 0 | 0 | For |
| Allspring | 1,102,435 | 0 | 0 | 0 | For |
| FULLER & THALER ASSET MANAGEMENT, INC. | 1,097,866 | 0 | 0 | 0 | For |
| American Century | 1,051,646 | 0 | 0 | 0 | For |
| LORD, ABBETT & CO. LLC | 983,503 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| DRIEHAUS CAPITAL MANAGEMENT LLC | 914,916 | 0 | 0 | 0 | For |
| Dimensional | 893,010 | 0 | 0 | 0 | For |
| Clearbridge Investments, LLC | 887,869 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
Showing the 25 largest of 421 asset managers. See all 421 in the interactive database.
Combines 6 wordings of this item as funds reported it.
99.6% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Proposal Two - Ratification of the Appointment of Independent Registered Public Accounting Firm . The appointment of KPMG LLP as the Company's independent registered public accounting firm for the Company's fiscal year e”): 443,279,090 for, 1,556,709 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 95 asset managers below cast 99.7% of the shares they voted on this item FOR (33,309,154 for, 80,635 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,631,542 | 0 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 1,448,563 | 0 | 0 | 0 | For |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 428,194 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 342,008 | 57,652 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 95 asset managers. See all 95 in the interactive database.
Combines 5 wordings of this item as funds reported it.
95% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Travis Boersma”): 404,897,463 for, 19,343,967 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 77% of the shares they voted on this item FOR (25,701,562 for, 7,677,926 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,622,041 | 9,501 | 0 | 0 | For |
| Fidelity | 7,012,327 | 8,100 | 0 | 0 | For |
| T. Rowe Price | 76,796 | 1,371,767 | 0 | 0 | Against |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 0 | 877,487 | 0 | 0 | Against |
| Dimensional | 0 | 726,180 | 0 | 0 | Against |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 0 | 695,945 | 0 | 0 | Against |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 0 | 617,910 | 0 | 0 | Against |
| First Trust | 0 | 595,341 | 0 | 0 | Against |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 491,911 | 10,745 | 0 | 0 | For |
| Baird | 0 | 454,844 | 0 | 0 | Against |
| Allspring | 0 | 428,194 | 0 | 0 | Against |
| Bridge Builder Trust | 17,011 | 382,649 | 0 | 0 | Against |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 0 | 287,698 | 0 | 0 | Against |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 0 | 219,000 | 0 | 0 | Against |
| DRIEHAUS MUTUAL FUNDS | 0 | 201,317 | 0 | 0 | Against |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99.6% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Christine Barone”): 422,968,261 for, 1,274,286 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 99.8% of the shares they voted on this item FOR (33,330,239 for, 49,249 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,631,542 | 0 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 1,448,563 | 0 | 0 | 0 | For |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 428,194 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 399,660 | 0 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99.8% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: C. David Cone”): 423,451,805 for, 777,886 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 99.8% of the shares they voted on this item FOR (33,330,241 for, 49,248 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,631,542 | 0 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 1,448,563 | 0 | 0 | 0 | For |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 428,194 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 399,660 | 0 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99.4% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Thomas Davis”): 421,943,366 for, 2,283,015 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 98% of the shares they voted on this item FOR (32,779,735 for, 599,753 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,631,542 | 0 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 1,448,563 | 0 | 0 | 0 | For |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 0 | 550,500 | 0 | 0 | Against |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 428,194 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 399,660 | 0 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99.4% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Kathryn George”): 421,931,210 for, 2,300,041 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 98% of the shares they voted on this item FOR (32,778,843 for, 600,645 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,631,542 | 0 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 1,448,563 | 0 | 0 | 0 | For |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 0 | 550,500 | 0 | 0 | Against |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 428,194 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 399,660 | 0 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
94% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Stephen Gillett”): 399,998,267 for, 24,229,523 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 73% of the shares they voted on this item FOR (24,381,436 for, 8,998,052 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,622,041 | 9,501 | 0 | 0 | For |
| Fidelity | 6,940,136 | 80,291 | 0 | 0 | For |
| T. Rowe Price | 0 | 1,448,563 | 0 | 0 | Against |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 0 | 877,487 | 0 | 0 | Against |
| Dimensional | 0 | 726,180 | 0 | 0 | Against |
| BlackRock | 0 | 722,253 | 0 | 0 | Against |
| Legg Mason | 0 | 713,430 | 0 | 0 | Against |
| Capitol Series Trust | 0 | 695,945 | 0 | 0 | Against |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 0 | 595,341 | 0 | 0 | Against |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 491,911 | 10,745 | 0 | 0 | For |
| Baird | 0 | 454,844 | 0 | 0 | Against |
| Allspring | 0 | 428,194 | 0 | 0 | Against |
| Bridge Builder Trust | 0 | 399,660 | 0 | 0 | Against |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 0 | 287,698 | 0 | 0 | Against |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 252,525 | 8,183 | 0 | 0 | For |
| OBERWEIS FUNDS | 0 | 219,000 | 0 | 0 | Against |
| DRIEHAUS MUTUAL FUNDS | 0 | 201,317 | 0 | 0 | Against |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: G.J. Hart”): 419,893,835 for, 4,333,572 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 97% of the shares they voted on this item FOR (32,508,062 for, 871,427 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,630,760 | 782 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 1,392,163 | 56,400 | 0 | 0 | For |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 0 | 674,233 | 0 | 0 | Against |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 428,194 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 399,660 | 0 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
99.3% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Kory Marchisotto”): 421,642,742 for, 2,585,470 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 95% of the shares they voted on this item FOR (31,848,745 for, 1,530,743 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,631,542 | 0 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 0 | 1,448,563 | 0 | 0 | Against |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 877,487 | 0 | 0 | 0 | For |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 674,233 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 536,396 | 0 | 0 | 0 | For |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 428,194 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 399,660 | 0 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 260,708 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
93% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Ann Miller”): 394,531,341 for, 29,698,038 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 65% of the shares they voted on this item FOR (21,650,987 for, 11,728,502 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,621,259 | 10,283 | 0 | 0 | For |
| Fidelity | 5,402,740 | 1,617,687 | 0 | 0 | For |
| T. Rowe Price | 0 | 1,448,563 | 0 | 0 | Against |
| Invesco | 0 | 1,178,613 | 0 | 0 | Against |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 849,430 | 28,057 | 0 | 0 | For |
| Dimensional | 0 | 726,180 | 0 | 0 | Against |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 0 | 713,430 | 0 | 0 | Against |
| Capitol Series Trust | 0 | 695,945 | 0 | 0 | Against |
| Charles Schwab | 0 | 674,233 | 0 | 0 | Against |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 0 | 595,341 | 0 | 0 | Against |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 0 | 536,396 | 0 | 0 | Against |
| American Century | 491,911 | 10,745 | 0 | 0 | For |
| Baird | 0 | 454,844 | 0 | 0 | Against |
| Allspring | 0 | 428,194 | 0 | 0 | Against |
| Bridge Builder Trust | 17,011 | 382,649 | 0 | 0 | Against |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 0 | 287,698 | 0 | 0 | Against |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 234,383 | 26,325 | 0 | 0 | For |
| OBERWEIS FUNDS | 0 | 219,000 | 0 | 0 | Against |
| DRIEHAUS MUTUAL FUNDS | 0 | 201,317 | 0 | 0 | Against |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
Combines 5 wordings of this item as funds reported it.
97% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Elect Director: Todd Penegor”): 413,572,817 for, 10,655,319 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 94 asset managers below cast 87% of the shares they voted on this item FOR (28,934,195 for, 4,445,293 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 10,630,760 | 782 | 0 | 0 | For |
| Fidelity | 7,020,427 | 0 | 0 | 0 | For |
| T. Rowe Price | 0 | 1,448,563 | 0 | 0 | Against |
| Invesco | 1,178,613 | 0 | 0 | 0 | For |
| Lord Abbett | 921,899 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 28,057 | 849,430 | 0 | 0 | Against |
| Dimensional | 726,180 | 0 | 0 | 0 | For |
| BlackRock | 722,253 | 0 | 0 | 0 | For |
| Legg Mason | 713,430 | 0 | 0 | 0 | For |
| Capitol Series Trust | 695,945 | 0 | 0 | 0 | For |
| Charles Schwab | 0 | 674,233 | 0 | 0 | Against |
| Columbia Threadneedle | 617,910 | 0 | 0 | 0 | For |
| First Trust | 595,341 | 0 | 0 | 0 | For |
| Federated Hermes | 550,500 | 0 | 0 | 0 | For |
| AllianceBernstein | 0 | 536,396 | 0 | 0 | Against |
| American Century | 502,656 | 0 | 0 | 0 | For |
| Baird | 454,844 | 0 | 0 | 0 | For |
| Allspring | 0 | 428,194 | 0 | 0 | Against |
| Bridge Builder Trust | 342,008 | 57,652 | 0 | 0 | For |
| FENIMORE ASSET MANAGEMENT TRUST | 332,317 | 0 | 0 | 0 | For |
| TIAA | 287,698 | 0 | 0 | 0 | For |
| WASATCH FUNDS TRUST | 264,757 | 0 | 0 | 0 | For |
| Equitable | 234,383 | 26,325 | 0 | 0 | For |
| OBERWEIS FUNDS | 219,000 | 0 | 0 | 0 | For |
| DRIEHAUS MUTUAL FUNDS | 201,317 | 0 | 0 | 0 | For |
Showing the 25 largest of 94 asset managers. See all 94 in the interactive database.
99.5% Majority: yes · of votes cast
DUTCH BROS INC.’s own tally for this item (“Proposal Three - Approval, on a Non-binding, Advisory Basis, of the Compensation of our Named Executive Officers . The compensation of the Company's named executive officers was approved, on a non-binding, advisory basis”): 422,363,059 for, 1,820,479 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Share-of-outstanding not shown: votes cast exceed the reported share count, which usually means multiple share classes with different voting rights.
The 2 asset managers below cast 100% of the shares they voted on this item FOR (1,060 for, 0 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Ramsay, Stattman, Vela & Price, Inc. | 1,030 | 0 | 0 | 0 | For |
| Empower | 30 | 0 | 0 | 0 | For |
Ranked by the number of DUTCH BROS INC. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 154,204,000 shares outstanding at the time of that meeting.
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Fidelity | 10.14% |
| 2 | Vanguard | 7.08% |
| 3 | T. Rowe Price | 2.48% |
| 4 | 1832 Asset Management L.P. | 2.22% |
| 5 | BlackRock | 1.86% |
| 6 | Invesco | 1.66% |
| 7 | DE Shaw | 1.50% |
| 8 | GEODE CAPITAL MANAGEMENT, LLC | 1.20% |
| 9 | State Street | 1.04% |
| 10 | AllianceBernstein | 0.99% |
Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).
| Holder | % outstanding | Disclosure |
|---|---|---|
| Travis Boersma | 31.27% | 13G |
| Vanguard Group | 6.43% | 13F |
| T. Rowe Price Associates, Inc. | 4.95% | 13G |
| FMR LLC | 4.21% | DEF14A |
| FMR (Fidelity) | 4.02% | 13F |
| D.E. Shaw | 3.44% | 13F |
| BlackRock | 3.30% | 13F |
| Citadel Advisors | 2.54% | 13F |
| BAILLIE GIFFORD & CO | 2.46% | 13G |
| TSG7 A Dutch Bros. Holdings, L.P. 1 | 1.52% | DEF14A |
Percentages above are of 154,204,000 shares outstanding, as reported by DUTCH BROS INC. on its Form 10-K dated 2024-12-31 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.
Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from DUTCH BROS INC.’s 10-K dated 2024-12-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.
At DUTCH BROS INC.'s shareholder meeting held 2025-05-13, in the 2024-2025 proxy season, 432 asset managers reported how they voted in their SEC Form N-PX filings, covering 4,475 separate fund positions. Their filings are grouped here into 13 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — Approval, on a Non-Binding, Advisory Basis, of the Compensation of our Named Executive Officers. — FOR was 99.5% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: DUTCH BROS INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on 2025-05-16.
DUTCH BROS INC. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.