Statement of Changes in Beneficial Ownership (4)

FORM 4

[X] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Alvarez Ralph	2. Issuer Name and Ticker or Trading Symbol DUNKIN' BRANDS GROUP, INC. [ DNKN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director                    _____ 10% Owner _____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle) C/O DUNKIN' BRANDS GROUP, INC., 130 ROYALL STREET	3. Date of Earliest Transaction (MM/DD/YYYY) 12/15/2020
(Street) CANTON, MA 02021 (City)        (State)        (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/15/2020		D(1)		2617	D	$106.50	0	D
Restricted Stock Units	12/15/2020		D(1)		1924	D	$106.50	0	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Deferred Stock Units	(2)	12/15/2020		D (1)			32121	(2)	(2)	Common Stock	32121	$106.50 (1)	0	D

Explanation of Responses:
(1)	Disposed of as a result of the merger pursuant to the previously announced Agreement and Plan of Merger, dated October 30, 2020, by and among Dunkin' Brands Group, Inc., Inspire Brands, Inc. and Vale Merger Sub, Inc.
(2)	The deferred stock units are issued under the Dunkin' Brands Group, Inc. Non-Qualified Deferred Compensation Plan (the "Plan"). Under the Plan, directors' fees may be deferred by the reporting person and such deferred fees are accounted for as if invested in Dunkin' Brands Group, Inc. common stock. Each deferred stock unit is the economic equivalent of one share of Dunkin' Brands Group, Inc. common stock. The deferred stock units become payable, in cash or common stock in the discretion of the Plan administrator, upon the reporting person's termination of service as a director.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Alvarez Ralph C/O DUNKIN' BRANDS GROUP, INC. 130 ROYALL STREET CANTON, MA 02021	X

Signatures
/s/ Ryan Schaffer, as Attorney-in-Fact for Ralph Alvarez		12/17/2020
**Signature of Reporting Person		Date