Form 4: Keurig Dr Pepper Executive Reports Stock Transactions
SEC Form 4 Filing
Mary Beth DeNooyer, Chief Human Resources Officer at Keurig Dr Pepper, reports the vesting and conversion of restricted stock units and subsequent tax withholding.
Summary
- On March 4, 2024, Mary Beth DeNooyer, Chief Human Resources Officer of Keurig Dr Pepper, reported transactions involving the company's stock.
- 13,717 restricted stock units (RSUs) converted into common stock at a price of $0 per share.
- 4,909 shares were withheld for payment of applicable taxes upon the vesting of the RSUs at a price of $29.1 per share.
- DeNooyer was also granted 24,055 new restricted stock units (RSUs) on March 4, 2024.
- Following these transactions, DeNooyer directly owns 127,471 shares of Keurig Dr Pepper common stock and 24,055 restricted stock units.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment.
Future Outlook
The document outlines future vesting dates for the granted RSUs, extending to March 4, 2029.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, common among publicly traded companies like Keurig Dr Pepper.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units (RSUs) as a way to align management's interests with those of shareholders.
- The vesting schedules described are typical for RSU grants, often spread over several years to incentivize long-term performance.
- Companies like Coca-Cola (KO) and PepsiCo (PEP) also utilize similar equity-based compensation strategies for their executives.
Stakeholder Impact
- The transactions have a minor impact on shareholders, reflecting changes in executive stock ownership.
- Employees may be interested in the details of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 03/03/2021 | Date of original grant for some of the RSUs that vested on 03/04/2024 |
| 03/03/2024 | Vesting date for 60% of the RSUs granted on March 3, 2021 |
| 03/04/2024 | Date of transactions: RSU conversion, tax withholding, and grant of new RSUs |
| 03/05/2024 | Date of signature on the Form 4 filing |
| 03/03/2025 | Next vesting date for 20% of the RSUs granted on March 3, 2021 |
| 03/03/2026 | Final vesting date for 20% of the RSUs granted on March 3, 2021 |
| 03/04/2027 | First vesting date for 60% of the RSUs granted on March 4, 2024 |
| 03/04/2028 | Second vesting date for 20% of the RSUs granted on March 4, 2024 |
| 03/04/2029 | Final vesting date for 20% of the RSUs granted on March 4, 2024 |
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