Form 4: Zevia PBC Executive Sells Shares to Cover Tax Obligations

Greig P. DeBow, Jr., Chief Commercial Officer of Zevia PBC, sold shares of Class A Common Stock to cover tax liabilities related to the settlement of restricted stock units.

Summary

• On March 25, 2024, Greig P. DeBow, Jr., Chief Commercial Officer of Zevia PBC, sold 7,012 shares of Class A Common Stock.
• The sale was executed to cover tax obligations associated with the settlement of 18,285 restricted stock units (RSUs).
• The shares were sold at a weighted average price of $1.0493, with individual transactions ranging from $1.03 to $1.08.
• Following the transaction, DeBow directly owns 320,600 shares, including 299,104 RSUs.
• The RSUs vest in quarterly increments on the anniversary of various dates, including August 10, 2022, March 17, 2023, and March 11, 2024, and are settled within 30 days of each vesting date.

Sentiment

Score: 5

Explanation: The document describes a routine transaction (sale of shares to cover taxes) and doesn't contain any information that would significantly impact investor sentiment positively or negatively.

Industry Context

Executive stock sales are a common occurrence and are often related to tax obligations or diversification strategies. The sale itself doesn't necessarily indicate a negative outlook on the company's future, but it's a transaction investors often monitor.

Comparison to Industry Standards

• Executive compensation packages often include RSUs that vest over time, and it's standard practice for executives to sell a portion of their shares to cover the associated tax liabilities.
• Similar transactions are regularly observed among executives at comparable publicly traded companies in the beverage and consumer packaged goods sectors.
• Companies like National Beverage Corp. (FIZZ) and Keurig Dr Pepper (KDP) also see similar patterns of executive stock transactions.

Stakeholder Impact

• The sale of shares by an executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant impact on employees, customers, suppliers, or creditors.

Key Dates