Form 4: PepsiCo Director Dave J. Lewis Reports Acquisition of Common Stock and Phantom Stock Units

Director Dave J. Lewis reported acquiring PepsiCo common stock and phantom stock units through dividend reinvestment and director compensation.

Summary

• On September 30, 2024, Dave J. Lewis acquired 90.36 shares of PepsiCo common stock through reinvestment of dividend equivalents.
• The prices for these shares ranged from $164.93 to $170.03.
• On October 1, 2024, Lewis acquired 1,166.9973 phantom stock units for service as a director.
• These phantom stock units are payable in shares of PepsiCo common stock on a one-for-one basis after his retirement or resignation from the Board.
• Following these transactions, Lewis beneficially owns 8,082.8895 shares of PepsiCo common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The transactions reflect standard director compensation and dividend reinvestment, indicating confidence in the company's stock.

Positives

• The director's acquisition of shares through dividend reinvestment demonstrates confidence in the company's performance.
• The acquisition of phantom stock units aligns the director's interests with the long-term success of the company.

Future Outlook

The phantom stock units will be payable in shares of PepsiCo Common Stock on a one-for-one basis commencing on the first day of the calendar quarter following the first anniversary of the filing person's retirement or resignation from PepsiCo's Board of Directors.

Industry Context

Director stock ownership is a common practice in publicly traded companies to align management's interests with those of shareholders. This filing reflects standard compensation practices for board members.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash, stock options, and restricted stock units.
• The specifics of these packages vary widely based on company size, industry, and individual contributions.
• PepsiCo's director compensation appears consistent with practices at other large, publicly traded consumer goods companies such as Coca-Cola and Nestle.

Stakeholder Impact

• The director's increased stock ownership could positively influence investor sentiment.
• The director's compensation structure aligns his interests with those of shareholders.

Key Dates