Coca-Cola Consolidated insider sale reported; family holdings and 10-for-1 split noted
Rhea-AI Filing Summary
Morgan H. Everett, Vice Chair and Director of Coca-Cola Consolidated, Inc. (COKE), reported a non-derivative sale of Common Stock occurring on 04/05/2024. The Form 4 shows a transaction coded "S(1)" disposing of 4 shares at a reported price of $817.57. The filing states the sale was executed by the reporting person’s investment advisor when securities were moved from a self-directed account to a managed custodial account for the reporting person’s child; the reporting person was unaware of the trade and the company says no Section 16(b) disgorgement resulted. The filing also discloses indirect holdings: 535,178 and 78,596 Common Stock equivalents held through family entities and trusts. A 10-for-1 forward stock split effective May 16, 2025 is noted and all amounts are shown on a pre-split basis.
Positive
- Clear explanatory footnotes describing the custodial managed account transfer and the reporting person's lack of awareness of the transaction
- Disclosure of indirect holdings (535,178 and 78,596 Common Stock equivalents) and ownership structure through family entities and trusts
- Noted 10-for-1 forward stock split with explicit statement that amounts are pre-split, aiding future comparability
Negative
- None.
Insights
TL;DR: Small, inadvertent sale reported; major holdings remain with family entities and split noted.
The reported disposal is minimal in size—4 shares at $817.57—and is described as executed by an advisor during an account transfer to a custodial managed account. The filer explicitly disclaims beneficial ownership for many shares held via family partnership and trusts except for pecuniary interest, which limits direct control implications. The 10-for-1 forward split note is important for interpreting share counts in this and future filings.
TL;DR: Disclosure meets Section 16 transparency; transaction characterized as inadvertent with supporting explanation.
The Form 4 provides required detail: transaction code, price, ownership form and explanatory footnotes describing custodial and family ownership structures and a disclaimer of beneficial ownership where applicable. The signature and remark about the stock split further clarify reporting context. No indication of insider trading intent or unexplained transfers is present in the filing text.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 4 | $817.57 | $3K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- Represents a sale executed by the investment advisor when the shares were transferred from a self-directed account to a managed account and all securities previously held in the self-directed account were liquidated and the proceeds were reinvested in the managed account program's portfolio. The managed account is a custodial account in which the reporting person's spouse serves as custodian for the reporting person's child under the Uniform Transfers to Minors Act. The reporting person was unaware of the transaction at the time it occurred and such transaction did not result in any profits to disgorge under Section 16(b) of the Securities Exchange Act of 1934, as amended. Such shares were held directly by the reporting person's spouse as custodian for the reporting person's child under the Uniform Transfers to Minors Act. Class B Common Stock is convertible into Common Stock, on a share-for-share basis, at any time at the option of the holder. Immediately. None. Such shares are held directly by the JFH Family Limited Partnership-FH1 (the "Family LP"). The JFH III Harrison Family LLC (the "Family LLC") holds the general partnership interest in the Family LP. Trusts, of which the reporting person is a beneficiary, hold limited partnership interests in the Family LP and membership interests in the Family LLC. The reporting person disclaims beneficial ownership in all of these securities except to the extent of her pecuniary interest therein. Such shares are held directly by a trust of which the reporting person is a beneficiary. The reporting person disclaims beneficial ownership in all of these securities except to the extent of her pecuniary interest therein.
