MURPHY JOHN 4

What Happened
John Murphy, President and Chief Financial Officer of The Coca‑Cola Company, exercised 99,437 stock options (cost $40.89/share; total exercise cost $4,065,979) on Feb 25, 2026 and sold 99,437 shares in the open market the same day for a weighted average price of $80.42/share (total proceeds $7,996,535). The filing also records shares disposed at $0 (tax withholding related to the option exercise) and a new option award on Feb 26, 2026 for 226,595 hypothetical shares under the 2024 Equity Plan (no cash paid).

Key Details

• Transaction dates: Exercise and open‑market sale on 2026-02-25; award granted on 2026-02-26.
• Prices and values: Exercise price $40.89 (total ≈ $4.07M); sale weighted average $80.42 (total ≈ $7.99M). Sale prices ranged $80.355–$80.535 (footnote).
• Tax withholding: Filing shows a disposition at $0 consistent with shares withheld to satisfy tax withholding on the exercise (see footnotes re: withholding right).
• Grant details: 226,595‑share option grant under the 2024 Equity Plan; vests one‑fourth each year beginning Feb 26, 2027.
• Shares owned after transaction: The filing does not list a total beneficial ownership number; it notes shares credited to his Coca‑Cola 401(k) account as of Feb 26, 2026.
• Filing timeliness: Report covers transactions on 2026-02-25 and was filed 2026-02-27 (filed within the typical 2‑business‑day Section 16 reporting window).

Context
This was a routine exercise-and-sell (cashless) transaction: Murphy exercised options and sold the resulting shares the same day, while some shares were withheld for taxes. He also received a new multi‑year option award that vests over four years. Such exercises followed by immediate sales are common ways executives cover exercise costs and tax obligations and are not, by themselves, a clear signal of changed sentiment.