Form 4: Coca-Cola Consolidated VP Sells 4 Shares in Managed Account

Coca-Cola Consolidated's Vice Chair, Morgan Harrison Everett, reported the sale of 4 shares of common stock at $817.57 per share, executed by an investment advisor for a child's managed account.

Summary

• Morgan Harrison Everett, Vice Chair and Director of Coca-Cola Consolidated, Inc. (COKE), reported a transaction on April 5, 2024.
• The transaction involved the sale of 4 shares of Common Stock at a price of $817.57 per share.
• The sale was executed by an investment advisor as shares were transferred from a self-directed account to a managed account for the reporting person's child under the Uniform Transfers to Minors Act (UTMA).
• All securities previously held in the self-directed account were liquidated, and the proceeds were reinvested in the managed account program's portfolio.
• The reporting person stated unawareness of the transaction at the time it occurred and confirmed that the transaction did not result in any profits subject to disgorgement under Section 16(b) of the Securities Exchange Act of 1934.
• Following the reported transaction, the reporting person directly holds 0 shares of Common Stock.
• Indirect beneficial ownership includes shares held by the reporting person's spouse as custodian for a child under UTMA, shares held by the JFH Family Limited Partnership-FH1 (Family LP) and JFH III Harrison Family LLC (Family LLC), and shares held by a trust where the reporting person is a beneficiary.
• Class B Common Stock is convertible into Common Stock on a share-for-share basis at the holder's option.
• A 10-for-1 forward stock split of Common Stock and Class B Common Stock was effected on May 16, 2025, and all amounts in this Form 4 are on a pre-split basis.

Sentiment

Score: 5

Explanation: The filing is a routine insider transaction report for a very small number of shares, with a clear explanation for the sale. It has no material positive or negative implications for the company's operational or financial performance.

Risks

• The filing explicitly states that the transaction did not result in any profits to disgorge under Section 16(b) of the Securities Exchange Act of 1934, mitigating a potential legal risk for the reporting person.

Future Outlook

The filing notes a 10-for-1 forward stock split of Common Stock and Class B Common Stock that occurred on May 16, 2025. All reported share amounts are on a pre-split basis, indicating that future reporting or analysis will need to account for this adjustment.

Management Comments

• The reporting person was unaware of the transaction at the time it occurred.
• The transaction did not result in any profits to disgorge under Section 16(b) of the Securities Exchange Act of 1934, as amended.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction and does not provide information relevant to broader industry trends or competitive dynamics within the beverage or consumer goods sector. It is specific to the individual's holdings and administrative account management.

Related Party Transactions

• The transaction involved shares transferred to a managed account for the reporting person's child, with the spouse serving as custodian under the Uniform Transfers to Minors Act.
• Indirect holdings include shares held by the JFH Family Limited Partnership-FH1 and JFH III Harrison Family LLC, where trusts of which the reporting person is a beneficiary hold interests.
• Additional indirect holdings are through a trust where the reporting person is a beneficiary.

Stakeholder Impact

• Shareholders: The sale of 4 shares is a negligible amount and is highly unlikely to have any material impact on the company's stock price or shareholder value.
• Employees, Customers, Suppliers, Creditors: No direct or indirect impact is expected on these stakeholders from this administrative insider transaction.

Key Dates

Recommendation

The filing is a routine Form 4 reporting a minor insider transaction (4 shares) by a Vice Chair, which does not provide sufficient information to alter an investment thesis for Coca-Cola Consolidated, Inc. The transaction was explained as an administrative transfer and liquidation within a managed account for a child, with no indication of a change in the insider's view of the company's prospects.

Keywords

Coca-Cola Consolidated, COKE, Insider Transaction, Form 4, Stock Sale, Executive Compensation, Morgan Harrison Everett, Beneficial Ownership