Form 4: Keurig Dr Pepper Executive Exercises Stock Options, Disposes of Shares for Tax Obligations
SEC Form 4 Filing
Patrick Minogue, President of US Coffee at Keurig Dr Pepper, exercised restricted stock units (RSUs) and disposed of shares to cover tax obligations on March 12, 2024.
Summary
- On March 12, 2024, Patrick Minogue, President of US Coffee at Keurig Dr Pepper, exercised 3,698 restricted stock units (RSUs) which converted into common stock on a one-for-one basis.
- Following the conversion, 1,641 shares were disposed of to cover applicable taxes at a price of $29.19 per share.
- After these transactions, Minogue directly owns 84,396 shares of Keurig Dr Pepper common stock and 3,697 restricted stock units.
- The RSUs were granted on March 12, 2020, and vest in three installments: 60% vested on March 12, 2023; 20% on March 12, 2024; and 20% on March 12, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Form 4 filings are standard practice and provide transparency into the transactions of company insiders, allowing investors to track ownership changes and potential alignment of interests.
Stakeholder Impact
- The transaction has a minimal impact on shareholders as it represents a routine exercise of stock options and subsequent sale for tax purposes by an executive.
Key Dates
| Date | Description |
|---|---|
| 03/12/2020 | Date the Restricted Stock Units were granted. |
| 03/12/2023 | 60% of the Restricted Stock Units vested. |
| 03/12/2024 | Date of transaction: RSUs exercised and shares disposed of for tax obligations; 20% of the Restricted Stock Units vested. |
| 03/14/2024 | Date of signature on the Form 4 filing. |
| 03/12/2025 | Date when the final 20% of the Restricted Stock Units will vest. |
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