Form 4: CDPQ Divests 2.15M Zevia Shares

Caisse de depot et placement du Quebec (CDPQ) sold 2.15 million shares of Zevia PBC at $1.90 per share.

Summary

• CDPQ and its subsidiary CDP Investissements Inc. sold 2,150,000 shares of Zevia PBC Class A Common Stock.
• The transaction occurred on May 27, 2026, at a price of $1.90 per share.
• Following the sale, the reporting entities maintain a beneficial ownership of 11,400,428 shares.

Sentiment

Score: 4

Explanation: StockSavvy.ai views this as a neutral-to-negative event, as the exit of a significant institutional holder often creates short-term supply pressure on the stock.

Positives

• The transaction provides liquidity for the reporting entity.

Negatives

• Significant divestment by a major 10% institutional shareholder may signal reduced confidence or portfolio rebalancing.

Risks

• Large block sales by institutional investors can exert downward pressure on the stock price.

Future Outlook

No forward-looking guidance or strategic outlook was provided in this disclosure.

Industry Context

StockSavvy.ai notes that institutional divestment in small-cap consumer goods companies like Zevia often reflects internal portfolio rebalancing rather than specific company performance, though it can impact market sentiment.

Comparison to Industry Standards

• Institutional selling of this magnitude is common for large pension funds like CDPQ when adjusting asset allocations.
• The transaction price of $1.90 reflects the current market valuation of Zevia PBC relative to its small-cap peers.

Related Party Transactions

• The filing confirms that CDP Investissements Inc. is a wholly owned subsidiary of Caisse de depot et placement du Quebec.

Stakeholder Impact

• Shareholders may experience increased volatility due to the large volume of shares sold.

Next Steps

• Monitor future SEC filings for further changes in beneficial ownership by CDPQ.

Key Dates

Recommendation

The sale of a large block of shares by a major institutional investor warrants a hold position until the market absorbs the supply and the company provides further operational updates.

Keywords

Zevia, ZVIA, CDPQ, Insider Trading, Form 4, Divestment