Form 4: Keurig Dr Pepper Executive Chairman Settles Vested Stock Units
SEC Form 4 Filing
Robert James Gamgort, Executive Chairman of Keurig Dr Pepper, settled vested restricted stock units into common stock and sold shares to cover taxes.
Summary
- Robert James Gamgort, the Executive Chairman of Keurig Dr Pepper, executed transactions involving the company's stock on January 15, 2025.
- He settled 73,785 vested restricted stock units (RSUs) into common stock on a one-for-one basis.
- Additionally, 24,420 shares were withheld to cover taxes at a price of $30.97 per share.
- Following these transactions, Mr. Gamgort directly owns 3,587,855 shares of common stock.
- He also indirectly owns 574,900 shares through a 2023 GRAT and 171,821 shares through a 2024 GRAT.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to executive compensation. It is neither particularly positive nor negative, but rather a standard process. The sentiment is neutral to slightly positive as it indicates the executive is receiving compensation.
Industry Context
This is a routine filing related to executive compensation and is common for publicly traded companies. It reflects the standard practice of settling vested stock units and covering associated tax liabilities.
Comparison to Industry Standards
- The vesting and settlement of restricted stock units are standard compensation practices for executives in publicly traded companies.
- Similar transactions are regularly reported by executives at comparable companies such as Coca-Cola (KO) and PepsiCo (PEP).
- The tax withholding process is also a common practice to ensure compliance with tax regulations.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it involves the settlement of previously granted stock units.
- The tax withholding ensures compliance with tax regulations, which is beneficial for all stakeholders.
Key Dates
| Date | Description |
|---|---|
| 09/15/2020 | Grant of 868,056 restricted stock units. |
| 12/07/2020 | Amendment to the restricted stock unit grant. |
| 01/15/2022 | First vesting date for 25% of the restricted stock units. |
| 01/15/2024 | Time-based RSUs vested. |
| 01/15/2025 | Settlement of vested RSUs and tax withholding. |
| 01/17/2025 | Date of filing the Form 4. |
Keywords
Keurig Dr Pepper, KDP, Robert James Gamgort, Executive Chairman, Restricted Stock Units, RSU, Stock Settlement, Form 4, Insider Trading
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