ARROYO MANUEL 4

What Happened
Manuel Arroyo, Executive Vice President of Coca‑Cola (KO), had 33,200 shares withheld and disposed of to satisfy tax withholding related to the vesting of performance share units. The shares were valued at $80.50 each, resulting in a disposition of approximately $2,672,600. This was a tax-withholding disposition (routine) tied to PSU vesting, not an open‑market sale intended as investment action.

Key Details

• Transaction date: 2026-02-27
• Price per share: $80.50
• Shares withheld/disposed: 33,200 — total value ≈ $2,672,600
• Filing date: 2026-03-03 (filed within the typical two-business-day window)
• Shares owned after transaction: not disclosed in this filing
• Footnote: Shares were withheld to satisfy tax liabilities upon vesting of performance share units issued 2026-02-19 under the 2023–2025 PSU program (transaction code F = tax withholding).

Context
This transaction reflects tax withholding on vested performance shares — a common, administrative occurrence for executives — and does not necessarily indicate a change in the insider’s market view. Code F denotes shares surrendered/withheld to cover taxes rather than a deliberate cash sale or purchase.