Cofer Timothy P. 4

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).