Form 4: Keurig Dr Pepper CEO Robert Gamgort Reports Stock Transactions
SEC Form 4 Filing
CEO Robert James Gamgort reports acquisition and disposal of Keurig Dr Pepper Inc. stock and restricted stock units.
Summary
- Robert James Gamgort, CEO & Executive Chairman of Keurig Dr Pepper Inc., filed a Form 4 detailing changes in beneficial ownership.
- On March 4, 2024, Gamgort converted 92,097 and 211,133 Restricted Stock Units (RSUs) into common stock.
- These RSUs converted on a one-for-one basis.
- 119,746 shares were withheld for tax payments related to the vesting of RSUs at a price of $29.1.
- On March 5, 2024, Gamgort acquired 171,821 shares of common stock at $29.1 per share.
- Following these transactions, Gamgort directly owns 3,179,917 shares of common stock and indirectly owns 1,000,000 shares through a GRAT.
- He also holds 61,398 restricted stock units.
- 161,513 RSUs were granted on March 4, 2024, vesting in three installments: 60% on March 4, 2027; 20% on March 4, 2028; and 20% on March 4, 2029.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transactions are a mix of RSU conversions, tax-related disposals, and stock purchases, suggesting routine activity rather than a strong positive or negative signal.
Positives
- The acquisition of 171,821 shares by the CEO could be interpreted as a positive signal about the company's prospects.
Negatives
- The disposal of 119,746 shares for tax purposes, while routine, represents a reduction in the CEO's direct holdings.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's confidence in the company's future prospects.
Stakeholder Impact
- The transactions could have a minor impact on shareholder sentiment, depending on how investors interpret the CEO's actions.
Key Dates
| Date | Description |
|---|---|
| 03/03/2021 | Date when some of the RSUs were granted, vesting in installments. |
| 03/04/2019 | Date when some of the RSUs were granted, vesting in full on March 4, 2024. |
| 03/04/2024 | Date of RSU conversion to common stock and grant of new RSUs. |
| 03/05/2024 | Date of common stock purchase. |
| 03/04/2027 | Date of first vesting installment (60%) for RSUs granted on March 4, 2024. |
| 03/04/2028 | Date of second vesting installment (20%) for RSUs granted on March 4, 2024. |
| 03/04/2029 | Date of final vesting installment (20%) for RSUs granted on March 4, 2024. |
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