Cofer Timothy P. 4

4 · Keurig Dr Pepper Inc. · Filed May 22, 2026

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Updated May 22, 2026

Keurig Dr Pepper CEO Timothy Cofer Converts RSUs, Sells 34,670 Shares

What Happened

Timothy P. Cofer, CEO, President and Director of Keurig Dr Pepper (KDP), had 88,106 restricted stock units (RSUs) convert into common stock on May 20, 2026. The RSUs converted one-for-one under the issuer's Omnibus Stock Incentive Plan (exercise price $0).
To satisfy tax withholding, 34,670 of the newly issued shares were withheld/sold at $28.69 per share, generating $994,682. After withholding, Cofer received a net 53,436 shares.

Key Details

Transaction date: May 20, 2026. Form 4 filed: May 22, 2026.
Reported entries: 88,106 RSUs converted to common stock (code M, $0 exercise price); 34,670 shares withheld/disposed for tax payment (code F) at $28.69, totaling $994,682.
Net shares issued to insider after withholding: 53,436 shares. Total post-transaction holdings not provided in this filing.
Footnotes: RSUs convert one-for-one; shares were withheld to cover applicable taxes in accordance with Rule 16b-3; the RSUs were granted Nov 20, 2023 and vested 40% on May 20, 2026 (other vesting dates: 30% May 20, 2025 and 30% May 20, 2027).
Filing appears timely (filed two days after the transaction).

Context

This was a routine RSU vesting and tax-withholding (sell-to-cover) transaction rather than a market-directed sale or purchase. Converting RSUs and withholding shares for taxes is a common administrative step and should not be interpreted as a directional buy/sell signal.
Code M on the Form 4 denotes exercise/conversion of a derivative (here, RSUs).

Form 4

Period: 2026-05-20

DirectorCEO & President

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-05-20+88,106→ 88,106 total
Tax Payment
Common Stock
[F2]
2026-05-20$28.69/sh−34,670$994,682→ 53,436 total
Exercise/Conversion
Restricted Stock Unit
[F4]
2026-05-20−88,106→ 66,079 total
→ Common Stock (88,106 underlying)

Holdings

Footnotes (4)

[F1]Restricted stock units ("RSUs") convert into common stock on a one-for-one basis.
[F2]Shares withheld for payment of applicable taxes upon vesting of RSUs in accordance with Rule 16b-3.
[F3]Reflects shares transferred between the reporting person and a trust, which was exempt from reporting pursuant to Rule 16a-13.
[F4]As previously disclosed, these RSUs were granted on November 20, 2023, and vest in three installments as follows: 30% on May 20, 2025; 40% on May 20, 2026; and 30% on May 20, 2027. The RSUs converted into common stock on a one-for-one basis pursuant to Issuer's Omnibus Stock Incentive Plan.

Signature

/s/ Mark Jackson, attorney in fact|2026-05-22

1 file