[Form 3] Keurig Dr Pepper Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Olivier Lemire, President, U.S. Coffee at Keurig Dr Pepper Inc. (KDP), reported initial beneficial ownership on a Form 3 related to an 08/26/2025 event. He directly owns 34,337 shares of KDP common stock and holds multiple restricted stock unit grants totaling 64,322 underlying shares across eight RSU awards (amounts listed in the filing). Several RSU tranches vest between Sept 14, 2025 and Nov 16, 2026, with other scheduled vesting through March 2029. Some Matching RSUs are subject to continued service and ownership requirements and may be forfeited if conditions are not met.

Insights

Corporate Governance Expert

TL;DR: Routine initial ownership disclosure showing executive alignment via stock and time‑based RSUs, with standard forfeiture conditions.

The Form 3 is a standard Section 16 filing that reports the reporting person’s direct holdings and time‑based restricted stock units. The combination of outright shares and staggered RSU vesting schedules aligns the executive’s interests with long‑term shareholder value and encourages retention. The presence of Matching RSUs tied to ownership requirements is a governance mechanism to promote sustained equity ownership. There are no indications of unusual transfer, pledging, or derivative positions in this filing.

Compensation Analyst

TL;DR: Compensation structure appears focused on multi‑year retention with multiple RSU vintages and standard vesting timelines.

The filing details several RSU awards with vesting schedules ranging from single‑date full vesting to multi‑year graded vesting through March 2029. The total reported underlying RSUs (64,322) supplement the 34,337 directly owned shares, indicating a pay mix weighted toward equity compensation. Vesting percentages and dates are explicitly stated, and some awards include forfeiture triggers tied to stock ownership requirements, a common practice to sustain alignment.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Lemire Olivier

(Last) (First) (Middle)

53 SOUTH AVENUE

(Street)

BURLINGTON MA 01803

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/26/2025

3. Issuer Name and Ticker or Trading Symbol
Keurig Dr Pepper Inc. [ KDP ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President, U.S. Coffee

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	34,337	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	(1)	Common Stock	9,573	$0	D
Restricted Stock Unit	(2)	(2)	Common Stock	14,605	$0	D
Restricted Stock Unit	(3)	(3)	Common Stock	12,431	$0	D
Restricted Stock Unit	(4)	(4)	Common Stock	4,403	$0	D
Restricted Stock Unit	(5)	(5)	Common Stock	1,285	$0	D
Restricted Stock Unit	(6)	(6)	Common Stock	1,291	$0	D
Restricted Stock Unit	(7)	(7)	Common Stock	3,294	$0	D
Restricted Stock Unit	(8)	(8)	Common Stock	17,440	$0	D

Explanation of Responses:

1. Subject to certain vesting conditions and exceptions, these restricted stock units vest in four equal installments as follows: 25% on March 5, 2026; 25% on March 5, 2027; 25% on March 5, 2028, and 25% on March 5, 2029. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.

2. Subject to certain vesting conditions and exceptions, these restricted stock units vest in three installments as follows: 60% on March 4, 2027; 20% on March 4, 2028, and 20% on March 4, 2029. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.

3. Subject to certain vesting conditions and exceptions, these restricted stock units vest in three installments as follows: 60% on March 1, 2026; 20% on March 1, 2027, and 20% on March 1, 2028. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.

4. Subject to certain vesting conditions and exceptions, these restricted stock units vest in two equal installments as follows: 50% on March 2, 2026 and 50% of March 2, 2027. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.

5. Subject to certain vesting conditions and exceptions, these restricted stock units vest in two equal installments as follows: 50% on September 14, 2025 and 50% of September 14, 2026. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.

6. Subject to certain vesting conditions and exceptions, these restricted stock units vest in full on March 3, 2026. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.

7. Subject to certain vesting conditions and exceptions, these restricted stock units vest in full on September 15, 2025. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Common Stock upon vesting.

8. Represents matching restricted stock units ("Matching RSUs") granted to the Reporting Person in connection with the Issuer's Elite Investment Program. These Matching RSUs vest in full on November 16, 2026 ("Vesting Date"), subject to continued service with the Issuer and other vesting conditions. In addition, all or a portion of the Matching RSUs may be forfeited by the Reporting Person if specified stock ownership requirements are not maintained to the Vesting Date. Each Matching RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.

Remarks:

	/s/ Mark Jackson, attorney in fact	09/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
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