Form 4: Coca-Cola Director Maria Elena Lagomasino Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Maria Elena Lagomasino, a director of Coca-Cola, reported the acquisition of phantom share units and changes in her beneficial ownership of the company's stock.
Summary
- On April 1, 2024, Maria Elena Lagomasino, a director of The Coca-Cola Company, reported changes in her beneficial ownership.
- She acquired 5,576.5131 phantom share units under The Coca-Cola Company Directors' Plan effective January 1, 2020, for 2024 compensation.
- These phantom share units are economically equivalent to one share of Common Stock and will be settled in cash after she leaves the Board.
- The price of the derivative security is $60.97.
- Lagomasino also reported owning 23,631 shares of Common Stock directly.
- Her total derivative securities beneficially owned following the reported transaction is 113,589.0337.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, indicating standard compensation practices. It doesn't contain any particularly positive or negative news, but transparency is generally viewed favorably.
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 equity ownership, common among publicly traded companies like Coca-Cola. It provides transparency regarding the alignment of director interests with shareholder value.
Comparison to Industry Standards
- Director compensation packages often include a mix of cash and equity-based awards, such as phantom shares or restricted stock units, to incentivize long-term performance.
- Companies like PepsiCo (PEP) and Keurig Dr Pepper (KDP) also utilize similar compensation structures for their directors.
- The specific terms of the Directors' Plan, such as the vesting schedule and settlement method, are typical for director compensation plans in large, publicly traded companies.
Stakeholder Impact
- Shareholders are informed about the director's equity 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 |
| 04/01/2024 | Date of transaction: acquisition of phantom share units |
| 04/02/2024 | Date of signature for the Form 4 filing |
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