Form 4: PepsiCo SVP and Controller Marie T. Gallagher Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Marie T. Gallagher, SVP and Controller of PepsiCo, reports acquisition of restricted stock units and disposition of shares to cover tax obligations.
Summary
- On March 1, 2024, Marie T. Gallagher, SVP and Controller of PepsiCo, acquired 7,890 restricted stock units (RSUs) as part of her compensation.
- These RSUs will vest on March 1, 2025, with potential for earlier vesting upon retirement.
- Also on March 1, 2024, 2,915 shares of PepsiCo common stock were disposed of to satisfy tax withholding obligations at a price of $164.125 per share.
- Following these transactions, Gallagher directly owns 50,395 shares of PepsiCo common stock.
- Additionally, Gallagher indirectly owns 349.2884 shares through the PepsiCo Savings Plan as of March 1, 2024.
- Since the last Form 4 report, Gallagher acquired 9.8622 shares under the PepsiCo Savings Plan.
Sentiment
Score: 6
Explanation: Neutral sentiment as the filing primarily reflects routine transactions related to executive compensation and tax obligations. There are no indications of significant positive or negative developments.
Positives
- The acquisition of 7,890 RSUs indicates continued investment in PepsiCo's future by a key executive.
- Increased holdings in the PepsiCo Savings Plan reflect ongoing participation in the company's employee benefits program.
Negatives
- The disposal of 2,915 shares to cover tax obligations, while routine, represents a reduction in direct share ownership.
Future Outlook
The document does not contain specific forward-looking statements beyond the vesting date of the RSUs.
Industry Context
This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the actions of company executives regarding their ownership of company stock.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine executive compensation and tax-related stock disposals.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of RSU acquisition and stock disposal for tax obligations. |
| 03/01/2025 | Vesting date for the acquired restricted stock units. |
| 03/05/2024 | Date of signature by Attorney-in-Fact on the Form 4 filing. |
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