Gaming & Lodging
Dutch Bros Executive Compensation (FY25)
BROS · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025 ◇ Christine Barone | Median of the other named officers $1,851,811 6 officers, excluding the chief executive | Latest say-on-pay support = May 13, 2026 | Chief executive pay ratio ◇ To the median employee |
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Data as of November 6, 2026Latest filing (8-K): May 15, 2026
7 filings cited on this page
Method: intel.velarion.ai/methodology
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241 figures on this page: 238 cited to the filing that reported them, 3 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Christine Barone: $4,968,400 → $6,668,231 (34.2% higher)
Say-on-pay support: 99.5% → 99.7% (0.2 points higher)
CEO pay ratio: 256:1 → 333:1 (30.1% higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is Dutch Bros' chief executive and what were they paid?
Christine Barone was paid $6,668,231 in total compensation as Chief Executive Officer and President for fiscal 2025. Barone's total moved 34.2% higher from the $4,968,400 reported for fiscal 2024.
What was Dutch Bros' say-on-pay result?
Shareholders supported the say-on-pay proposal with 99.7% of votes cast including abstentions in favor at the meeting held May 13, 2026 for fiscal 2025.
Which companies are in Dutch Bros' peer group?
Companies named in the disclosed peer group include BJ’s Restaurants, Inc., Bloomin’ Brands, Inc., Brinker International, Inc., Chipotle Mexican Grill, Inc. and Darden Restaurants, Inc., among others. The additional disclosed peer group includes CAVA Group, Inc., Celsius Holdings, Inc., El Pollo Loco Holdings, Inc., First Watch Restaurant Group, Inc. and Jack in the Box Inc., among others. Companies named in the 2025 Peer Group include CAVA Group, Inc., Celsius Holdings, Inc., El Pollo Loco Holdings, Inc., First Watch Restaurant Group, Inc. and Jack in the Box Inc., among others.
What is Dutch Bros' chief executive pay ratio?
The company reported a chief executive pay ratio of 333:1 for fiscal 2025, against median employee compensation of $20,025.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Travis Boersma Co-Founder and Executive Chairman | ◇ | — | — | — | — | — | ◇ | ◇ |
Jonathan Ricci Chief Executive Officer | ◇ | ◇ | — | — | — | — | ◇ | ◇ |
John Graham Former Chief Marketing Officer Departed during or after this year | ◇ | ◇ | — | — | — | — | ◇ | ◇ |
Charles Jemley Chief Financial Officer | ◇ | ◇ | — | — | — | — | ◇ | ◇ |
Brian Maxwell Chief Operating Officer | ◇ | — | — | — | — | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Christine Barone Chief Executive Officer and President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jonathan Ricci Former Chief Executive Officer Departed during or after this year | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Travis Boersma Co-Founder and Executive Chairman | ◇ | — | — | — | — | — | ◇ | ◇ |
Co-Founder Co-Founder and Executive Chairman | ◇ | — | — | — | — | — | ◇ | ◇ |
Charles Jemley Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Tana Davila Chief Marketing Officer | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Victoria Tullett Chief Legal Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Christine Barone Chief Executive Officer and President | ◇ | ◇ | ◇ | — | ◇ | — | ◇ | ◇ |
Joshua Guenser Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Sumi Ghosh Former President of Operations | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Victoria Tullett Chief Legal Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Tana Davila Chief Marketing Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Co-Founder Co-Founder and Executive Chairman | ◇ | — | — | — | — | — | — | ◇ |
Travis Boersma Co-Founder and Executive Chairman | ◇ | — | — | — | — | — | — | ◇ |
Charles Jemley Former Chief Financial Officer Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Christine Barone Chief Executive Officer and President | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Joshua Guenser Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Tana Davila Chief Marketing Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Sumi Ghosh Former President of Operations Departed during or after this year | ◇ | ◇ | ◇ | — | — | — | ◇ | ◇ |
Travis Boersma Co-Founder and Executive Chairman | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Co-Founder Co-Founder and Executive Chairman | ◇ | — | — | — | ◇ | — | ◇ | ◇ |
Victoria Tullett Chief Legal Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Christine Barone | PSU | ◇ | — | — | ◇ | — | — | ◇ |
| Christine Barone | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Joshua Guenser | PSU | ◇ | — | — | ◇ | — | — | ◇ |
| Joshua Guenser | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Sumi Ghosh | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Sumi Ghosh | PSU | ◇ | — | — | ◇ | — | — | ◇ |
| Tana Davila | PSU | ◇ | — | — | ◇ | — | — | ◇ |
| Tana Davila | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Victoria Tullett | PSU | ◇ | — | — | ◇ | — | — | ◇ |
| Victoria Tullett | RSU | ◇ | — | — | ◇ | — | — | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Christine Barone | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | — | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Joshua Guenser | RSU | ◇ | ◇ | — | — |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | — | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Victoria Tullett | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | — | — | — | |
| PSU | ◇ | ◇ | — | — | |
| Tana Davila | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| PSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | — | — | — | |
| PSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
G.J. Hart | ◇ | ◇ | — | — | — | — | ◇ |
Todd Penegor | ◇ | ◇ | — | — | — | — | ◇ |
C. David Cone | ◇ | ◇ | — | — | — | — | ◇ |
Ann Miller | ◇ | ◇ | — | — | — | — | ◇ |
Kory Marchisotto | ◇ | ◇ | — | — | — | — | ◇ |
Stephen Gillett | ◇ | ◇ | — | — | — | — | ◇ |
Thomas Davis | ◇ | ◇ | — | — | — | — | ◇ |
Kathryn George | ◇ | ◇ | — | — | — | — | ◇ |
Christine Barone, Travis Boersma and Scott Maw served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
Equity is delivered as restricted stock units.
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- BJ’s Restaurants, Inc. BJRI
- Bloomin’ Brands, Inc. BLMN
- Brinker International, Inc. EAT
- Chipotle Mexican Grill, Inc. CMG
- Darden Restaurants, Inc. DRI
- Dine Brands Global, Inc. DIN
- Domino’s Pizza, Inc. DPZ
- McDonald’s Corporation MCD
- Monster Beverage Corporation MNST
- Restaurant Brands International Inc. QSR
- Starbucks Corporation SBUX
- Texas Roadhouse, Inc. TXRH
- The Cheesecake Factory Incorporated CAKE
- Yum! Brands, Inc. YUM
Additional disclosed peer group
- CAVA Group, Inc. CAVA
- Celsius Holdings, Inc. CELH
- El Pollo Loco Holdings, Inc. LOCO
- First Watch Restaurant Group, Inc. FWRG
- Jack in the Box Inc. JACK
- Krispy Kreme, Inc. DNUT
- Papa John's International Inc. PZZA
- Portillo's Inc. PTLO
- Potbelly Corporation PBPB
- Shake Shack Inc. SHAK
- Sweetgreen, Inc. SG
- Wendy's Co. WEN
- Wingstop Inc. WING
2025 Peer Group
- CAVA Group, Inc. CAVA
- Celsius Holdings, Inc. CELH
- El Pollo Loco Holdings, Inc. LOCO
- First Watch Restaurant Group, Inc. FWRG
- Jack in the Box Inc. JACK
- Krispy Kreme, Inc. DNUT
- Papa John's International Inc. PZZA
- Portillo's Inc. PTLO
- Potbelly Corporation PBPB
- Shake Shack Inc. SHAK
- Sweetgreen, Inc. SG
- Wendy's Co. WEN
- Wingstop Inc. WING
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 13, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 13, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 14, 2024 | = | ◇ | ◇ | ◇ |
Chief executive pay ratio
As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
Ask our research desk — $99, 24h, every figure cited to its filing.
Sample answer — “What is the CEO’s total compensation?”
- Christine Barone (Chief Executive Officer and President), FY2025 total compensation $6,668,231 (base salary $850,000) [exec_comp, SEC accession 0001866581-26-000055, filed 2026-03-31]What this page does not include
Everything above is a fact Dutch Bros disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Dutch Bros sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
241 figures on this page: 238 cited to the filing that reported them, 3 calculated from figures it prints.
238 cited to the filing
3 calculated from the filing
Documents cited
- 0001866581-26-000085
- 0001866581-26-000055CEO Pay Ratio · Director Compensation · Outstanding Equity Awards at Fiscal Year-End · Summary Compensation Table
- 0001866581-25-000154
- 0001866581-25-000102Summary Compensation Table
- 0001866581-24-000175
- 0001866581-24-000105Summary Compensation Table
- 0001866581-23-000057Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Dutch Bros executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/BROS (accessed 2026).
Short form: data: Velarion
The Dutch Bros brief, $500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $500 for the board report; $900 for both.
7 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Gaming & Lodging rankings
Peers Dutch Bros discloses
The companies named in BROS's own disclosed peer group.
BJ’s Restaurants, Inc.Bloomin’ Brands, Inc.Brinker International, Inc.Chipotle Mexican Grill, Inc.Darden Restaurants, Inc.Dine Brands Global, Inc.Domino’s Pizza, Inc.McDonald’s CorporationMonster Beverage CorporationRestaurant Brands International Inc.Starbucks CorporationTexas Roadhouse, Inc.The Cheesecake Factory IncorporatedYum! Brands, Inc.CAVA Group, Inc.Celsius Holdings, Inc.El Pollo Loco Holdings, Inc.First Watch Restaurant Group, Inc.Jack in the Box Inc.Krispy Kreme, Inc.Papa John's International Inc.Portillo's Inc.Shake Shack Inc.Sweetgreen, Inc.
Terms on this page
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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}