Form 4: Coca-Cola Director Christopher Davis Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Director Christopher Davis reports the acquisition of phantom share units and the disposal of common stock.
Summary
- Christopher Davis, a director of Coca-Cola, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 4,332.6345 phantom share units under The Coca-Cola Company Directors' Plan for 2025 compensation.
- These phantom share units are economically equivalent to shares of common stock and will be settled in cash after Davis leaves the Board.
- Davis also disposed of 20,000 shares of common stock.
- The total number of derivative securities beneficially owned following the reported transactions is 44,789.3233.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports transactions.
Future Outlook
The phantom share units will be settled in cash the later of (i) January 15 of the year following the year in which the reporting person leaves the Board, or (ii) six months following the date on which the reporting person leaves the Board.
Industry Context
This filing is a routine disclosure related to director compensation and stock ownership, common among publicly traded companies. It provides transparency into the financial interests of company insiders.
Comparison to Industry Standards
- Director compensation packages often include a mix of cash, stock options, and restricted stock units (RSUs).
- Phantom share units are similar to RSUs, providing directors with the economic benefit of stock ownership without the actual shares.
- Companies like PepsiCo (PEP) and Nestle (NSRGY) also disclose similar information regarding their directors' compensation and stock ownership through SEC filings.
Stakeholder Impact
- Shareholders are informed about the director's stake in the company.
- The filing provides transparency regarding director compensation.
Key Dates
| Date | Description |
|---|---|
| 01/01/2020 | Effective date of The Coca-Cola Company Directors' Plan |
| 04/01/2025 | Date of earliest transaction (acquisition of phantom share units) |
| 04/02/2025 | Date of signature of the report |
Keywords
Form 4, beneficial ownership, Christopher Davis, Coca-Cola, phantom share units, director compensation, KO
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