Form 4: Keurig Dr Pepper Executive Patrick Minogue Reports Stock Transactions
SEC Form 4
Patrick Minogue, President of US Coffee at Keurig Dr Pepper, reports the vesting and conversion of restricted stock units into common stock, along with associated tax withholding.
Summary
- On March 3, 2025, Patrick Minogue, President of US Coffee at Keurig Dr Pepper, reported transactions involving Keurig Dr Pepper Inc. common stock.
- These transactions involved the vesting and conversion of restricted stock units (RSUs) into common stock.
- Specifically, 6,605 RSUs converted to common stock at a price of $0, and 2,776 RSUs converted to common stock at a price of $0.
- A portion of the shares were withheld for payment of applicable taxes upon vesting of the RSUs.
- After these transactions, Minogue directly owns 74,563 shares of Keurig Dr Pepper common stock and 7,179 restricted stock units.
- The RSUs converted into common stock on a one-for-one basis pursuant to the Issuer's Omnibus Stock Incentive Plan of 2019.
Sentiment
Score: 6
Explanation: The sentiment is neutral. It's a routine filing related to stock-based compensation. The vesting of RSUs is generally a positive sign, but it's an expected event.
Positives
- The vesting of RSUs indicates that performance milestones have been met, which is generally a positive sign.
Industry Context
Executive stock transactions are a normal part of corporate governance and compensation practices. Monitoring these transactions can provide insights into management's perspective on the company's performance and future prospects.
Comparison to Industry Standards
- Stock-based compensation is a common practice among publicly traded companies to align the interests of executives with those of shareholders.
- Vesting schedules, like the three-year vesting period for the RSUs, are typical in executive compensation packages.
- Companies like Coca-Cola (KO) and PepsiCo (PEP) also utilize stock-based compensation for their executives.
Stakeholder Impact
- The vesting of RSUs has a minor dilutive effect on existing shareholders.
Key Dates
| Date | Description |
|---|---|
| March 3, 2021 | Date of grant for 2,776 RSUs that vest in three installments. |
| March 2, 2022 | Date of grant for 6,605 RSUs that vest in three installments. |
| March 3, 2024 | 60% of RSUs granted on March 3, 2021 vested. |
| March 2, 2025 | 60% of RSUs granted on March 2, 2022 vested. |
| March 3, 2025 | Date of transaction: RSUs converted to common stock; 20% of RSUs granted on March 3, 2021 vested. |
| March 5, 2025 | Date of Form 4 signature. |
| March 2, 2026 | 20% of RSUs granted on March 2, 2022 vest. |
| March 3, 2026 | 20% of RSUs granted on March 3, 2021 vest. |
| March 2, 2027 | 20% of RSUs granted on March 2, 2022 vest. |
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