Form 4: Zevia PBC Director Rosemary L. Ripley Reports Stock Grant and Beneficial Ownership

Director Rosemary L. Ripley reports the grant of restricted stock units (RSUs) and her beneficial ownership of Zevia PBC stock through various entities.

Summary

• Rosemary L. Ripley, a director of Zevia PBC, filed a Form 4 detailing changes in her beneficial ownership of the company's stock.
• The report includes the grant of 118,455 restricted stock units (RSUs) on June 12, 2024, under the Zevia PBC 2021 Equity Incentive Plan.
• These RSUs vest on the earlier of June 12, 2025, or the Issuer's 2025 annual meeting of stockholders and are settled within 30 days following such vesting date.
• Ripley also indirectly owns 5,286,264 shares of Class A Common Stock through NGEN III, LP, NGEN Zevia SPV, LLC, and NGEN-Mantra Holdings LLC.
• She disclaims beneficial ownership of these shares except to the extent of her pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing, neither particularly positive nor negative. It provides information about director stock ownership, which is generally neutral.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders.

Future Outlook

The RSUs vest on the earlier of June 12, 2025, or the company's 2025 annual meeting, indicating a future vesting event.

Management Comments

• Ms. Ripley disclaims beneficial ownership of the shares of Class A Common Stock and Class B Common Stock reported herein except to the extent of her pecuniary interest therein and this report shall not be deemed an admission that she is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Comparison to Industry Standards

• Director stock ownership is common across publicly traded companies like Zevia PBC.
• The vesting schedules for RSUs are typical, often tied to continued employment or specific performance milestones.
• Indirect ownership through investment vehicles is also a standard practice among directors and officers.

Stakeholder Impact

• Shareholders are informed about the director's stake in the company.
• Employees may be interested in the equity compensation structure for directors.

Key Dates