Form 4: Coca-Cola Director Thomas Gayner Reports Acquisition of Phantom Share Units

Director Thomas Gayner reports acquisition of phantom share units in Coca-Cola, economically equivalent to common stock, through the company's Directors' Plan.

Summary

• Thomas Sinnickson Gayner, a director of Coca-Cola, filed a Form 4 disclosing changes in beneficial ownership.
• The report details the acquisition of 4,053.1097 phantom share units on April 1, 2025, under The Coca-Cola Company Directors' Plan.
• These phantom share units are economically equivalent to shares of Coca-Cola common stock.
• The price of the derivative security is $71.55.
• Gayner now holds a total of 11,056.4739 phantom share units, including those accrued through April 1, 2025, as a result of credited phantom dividends.
• The phantom share units are settled in cash the later of January 15 of the year following the year in which the reporting person leaves the Board, or six months following the date on which the reporting person leaves the Board.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The filing reflects standard compensation practices and aligns director interests with the company's performance. There are no indications of negative events or concerns.

Positives

• The acquisition of phantom share units aligns the director's interests with the company's performance.
• The Directors' Plan provides a mechanism for deferred compensation and incentivizes long-term commitment.

Future Outlook

The document does not contain specific forward-looking statements regarding the company's future performance, but it does outline the terms of the Directors' Plan and the settlement of phantom share units.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Director compensation plans involving phantom shares are common among large publicly traded companies like Coca-Cola.
• Companies such as PepsiCo and Nestle also utilize similar deferred compensation strategies to align executive and director interests with shareholder value.
• The specific terms of Coca-Cola's Directors' Plan, including the settlement date and valuation method, are likely benchmarked against industry best practices.

Stakeholder Impact

• Shareholders benefit from the transparency provided by Form 4 filings, allowing them to track changes in insider ownership.
• The Directors' Plan incentivizes directors to act in the best interests of the company and its shareholders.

Key Dates

Keywords

Form 4, Coca-Cola, Director, Phantom Share Units, Beneficial Ownership, Directors' Plan, Compensation