GAYNER THOMAS SINNICKSON 4

What Happened
Thomas Sinnickson Gayner, a director of The Coca‑Cola Company (KO), was credited with 3,825.353 phantom share units on April 1, 2026 as an award under the company's Directors' Plan. The filing values the grant at $75.81 per unit for a total economic value of $290,000. This was a grant of cash‑settled derivative units (award), not an open‑market purchase or sale of company stock.

Key Details

• Transaction date and value: April 1, 2026 — 3,825.353 phantom share units at $75.81 each; total $290,000. (Transaction code A = Award/Grant; derivative)
• Shares owned after transaction: Not specified in the filing.
• Footnotes of note:
  • Each phantom share unit is economically equivalent to one share of common stock.
  • Units were credited under The Coca‑Cola Company Directors' Plan (effective June 1, 2025) for 2026 compensation and may include voluntary deferrals.
  • Phantom units are settled in cash after the director leaves the Board (the later of Jan 15 of the year following departure or six months after departure).
  • The reported balance includes phantom dividends credited through April 1, 2026.
• Filing timeliness: Transaction dated April 1, 2026 and Form 4 filed April 3, 2026 — filed within the typical two‑business‑day reporting window (timely).

Context
Phantom share units are a common director compensation form that track the value of stock but are settled in cash when vested or upon leaving the board; they do not represent immediate ownership of shares or direct insider buying/selling. Such awards are routine for non‑employee directors and reflect compensation, not necessarily a directional bet on the stock.