[Form 4] Keurig Dr Pepper Inc. Insider Trading Activity

Rhea-AI Filing Summary

Michael G. Van de Ven, a director of Keurig Dr Pepper Inc. (KDP), was granted 3,210 restricted stock units on 09/17/2025. The Form 4 reports these RSUs as acquired with a reported price of $0 and 3,210 shares beneficially owned following the transaction, held directly. The filing notes the RSUs are subject to vesting and, subject to conditions and exceptions, vest on September 17, 2030, with each RSU converting to one share of common stock upon vesting. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/19/2025.

Positive

• Director alignment via long-term restricted stock units that tie compensation to future share performance
• Clear disclosure of grant size, vesting date, and direct beneficial ownership in a timely Form 4

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation via time‑based RSUs; standard long-term alignment with shareholders.

The Form 4 documents a customary equity grant to a board member rather than a market purchase or sale. The 3,210 restricted stock units vesting in five years suggest a long-term retention and alignment mechanism common in corporate governance. There is no disclosure here of accelerated vesting, change‑in‑control provisions, or immediate disposition, and the grant appears to be recorded as direct beneficial ownership. This is a procedural disclosure without indications of unusual timing or material dilution beyond routine equity compensation.

Securities Analyst

TL;DR: Non-cash equity award increases director's potential stake by 3,210 shares upon vesting.

The reported acquisition is an award of 3,210 RSUs at $0 reported price, increasing reported direct beneficial ownership by the same amount. These RSUs convert one-for-one to common stock upon vesting on 09/17/2030, assuming vesting conditions are met. The disclosure provides no information on grant-date valuation, tax withholding, or potential dilution magnitude relative to outstanding shares, so material market impact cannot be assessed from this filing alone.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Van de Ven Michael G

(Last) (First) (Middle)

53 SOUTH AVE.

(Street)

BURLINGTON MA 01803

(City) (State) (Zip)

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

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
09/17/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(1)	09/17/2025		A		3,210		(1)	(1)	Common Stock	3,210	$0	3,210	D

Explanation of Responses:

1. Subject to certain vesting conditions and exceptions, these restricted stock units vest on September 17, 2030. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock upon vesting.

Remarks:

	/s/ Mark Jackson, attorney in fact	09/19/2025
	** 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 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Michael G. Van de Ven report on the KDP Form 4?

The Form 4 reports an acquisition of 3,210 restricted stock units on 09/17/2025, resulting in 3,210 shares beneficially owned following the transaction.

When do the reported RSUs vest for KDP director Michael G. Van de Ven?

The RSUs are subject to vesting and, subject to conditions and exceptions, vest on September 17, 2030.

Was any cash paid for the RSUs reported on the Form 4?

The transaction is reported with a price of $0, indicating these are non-cash restricted stock units granted as compensation.

How is ownership reported for these RSUs on the Form 4?

Ownership following the transaction is reported as 3,210 shares and the form lists the ownership form as Direct (D).

Who signed the Form 4 disclosure for Michael G. Van de Ven?

The Form 4 bears the signature of Mark Jackson, attorney‑in‑fact, dated 09/19/2025.