BOTIN ANA 4

What Happened
Ana Botin, a director of The Coca‑Cola Company (KO), was credited with 3,528.558 phantom share units (a derivative award) on April 1, 2026 under the Directors' Plan. The units were valued at $75.81 each, for an aggregate grant value of $267,500. This filing reports an award/grant (code A), not an open‑market purchase or sale of actual common stock.

Key Details

• Transaction date: April 1, 2026; Form 4 filed April 3, 2026.
• Award: 3,528.558 phantom share units @ $75.81 per unit; total value reported $267,500.
• Vehicle: Phantom share units (economically equivalent to one share of Common Stock) credited under The Coca‑Cola Company Directors' Plan for 2026 compensation (F3, F4).
• Settlement: Phantom units are cash‑settled after the director leaves the Board (the later of Jan 15 of the year after departure or six months after departure) (F5). The reported number includes phantom dividends credited through April 1, 2026 (F6).
• Ownership/Control: These units/shares are held by a Spanish limited company in which Ms. Botin indirectly holds a majority economic interest and has investment control (F2).
• Exhibits: Power of Attorney included as Exhibit 24 (F1).
• Timeliness: Form 4 lists the grant date April 1 and was filed April 3; the filing does not indicate a late designation in the provided data.

Context
This was a derivative award (phantom share units) under the board directors’ compensation plan and will be settled in cash per plan rules — it is not an immediate transfer of common stock. Grants like this are routine director compensation and do not necessarily signal buying or selling sentiment in the market.