Keurig Dr Pepper (KDP) director converts RSUs and withholds shares for taxes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Keurig Dr Pepper director Robert James Gamgort reported equity award activity involving restricted stock units and common shares. On March 2 and 3, he exercised several batches of restricted stock units, converting 30,699, 82,481, and 24,346 RSUs into common stock at no cash exercise price under the company’s Omnibus Stock Incentive Plan.
To cover applicable tax obligations upon vesting, he disposed of 12,081 and 42,038 common shares through share withholding transactions at prices of $29.57 and $29.97 per share, respectively, which are characterized as tax-withholding dispositions rather than open‑market sales. After these transactions, he directly held 1,942,875 common shares and also reported indirect ownership of additional shares held by 2024 and 2025 Trusts.
Positive
- None.
Negative
- None.
Insider Trade Summary
137,526 shares exercised/converted
Mixed
10 txns
Insider
Gamgort Robert James
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 30,699 | $0.00 | -- |
| Exercise | Common Stock | 30,699 | $0.00 | -- |
| Tax Withholding | Common Stock | 12,081 | $29.57 | $357K |
| Exercise | Restricted Stock Unit | 82,481 | $0.00 | -- |
| Exercise | Restricted Stock Unit | 24,346 | $0.00 | -- |
| Exercise | Common Stock | 82,481 | $0.00 | -- |
| Exercise | Common Stock | 24,346 | $0.00 | -- |
| Tax Withholding | Common Stock | 42,038 | $29.97 | $1.26M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 0 shares (Direct);
Common Stock — 1,954,956 shares (Direct);
Common Stock — 102,142 shares (Indirect, By 2024 Trust)
Footnotes (1)
- Restricted stock units ("RSUs") convert into common stock on a one-for-one basis. Reflects shares transferred between the reporting person and certain Trusts, which were exempt from reporting pursuant to Rule 16a-13. Shares withheld for payment of applicable taxes upon vesting of RSUs in accordance with Rule 16b-3. As previously disclosed, these RSUs were granted on March 1, 2023, and vest in three installments as follows: 60% on March 2, 2026, the first trading day following March 1, 2026; 20% on March 1, 2027; and 20% on March 1, 2028. The RSUs converted into common stock on a one-for-one basis pursuant to the Issuer's Omnibus Stock Incentive Plan of 2019. As previously disclosed, these RSUs were granted on March 2, 2022, and vest in three installments as follows: 60% on March 2, 2025; 20% on March 2, 2026; and 20% on March 2, 2027. The RSUs converted into common stock on a one-for-one basis pursuant to the Issuer's Omnibus Stock Incentive Plan of 2019. As previously disclosed, these RSUs were granted on March 3, 2021, and vest in three installments as follows: 60% on March 3, 2024; 20% on March 3, 2025; and 20% on March 3, 2026. The RSUs converted into common stock on a one-for-one basis pursuant to the Issuer's Omnibus Stock Incentive Plan of 2019.
FAQ
What did Keurig Dr Pepper (KDP) director Robert James Gamgort do in this Form 4?
Robert James Gamgort reported vesting and conversion of several batches of restricted stock units into common stock, along with share withholdings to pay taxes. These transactions reflect scheduled equity award activity rather than open‑market buying or selling of Keurig Dr Pepper shares.
How many Keurig Dr Pepper RSUs did Robert Gamgort convert into common stock?
Robert Gamgort converted blocks of 30,699, 82,481 and 24,346 restricted stock units into Keurig Dr Pepper common stock. Each RSU converted on a one‑for‑one basis under the company’s Omnibus Stock Incentive Plan, reflecting vesting of previously granted long‑term equity compensation awards.
What do the Keurig Dr Pepper RSU footnotes in the Form 4 explain?
The footnotes explain that restricted stock units convert into common stock on a one‑for‑one basis and detail vesting schedules for grants made in 2021, 2022 and 2023. They note that these awards vest in installments over multiple years under the 2019 Omnibus Stock Incentive Plan.
What is the significance of the 2024 and 2025 Trust holdings for KDP?
The Form 4 shows indirect ownership of Keurig Dr Pepper shares held by a 2024 Trust and a 2025 Trust. It also notes prior share transfers between the reporting person and certain trusts that were exempt under Rule 16a‑13, indicating estate or planning structures rather than trading activity.