KO director gets 1,118.0992 phantom share units at $71.55

The Coca-Cola Company (KO) reported a Form 4 for director Max R. Levchin showing a grant of 1,118.0992 phantom share units on 10/16/2025.

Accepted by SEC EDGAR 10/20/2025 - 02:10 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

The Coca-Cola Company (KO) reported a Form 4 for director Max R. Levchin showing a grant of 1,118.0992 phantom share units on 10/16/2025. These units were credited under the company’s Directors’ Plan for 2025 compensation, prorated to reflect his election to the Board on that date. Each phantom unit is economically equivalent to one share of common stock, with a reference price of $71.55. The units are settled in cash after the director leaves the Board, based on the plan’s timing rules.

Insider Trade Summary

Grant/Award: 1,118.0992 shares

Grant/Award 1 txn

Insider Levchin Max R

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Share Units	1,118.0992	$71.55	$80K
Holding	Common Stock, $.25 Par Value	--	--	--

Holdings After Transaction: Phantom Share Units — 1,118.0992 contracts (Direct); Common Stock, $.25 Par Value — 0 shares (Direct)

Footnotes (3)

1. F1. Each phantom share unit is economically equivalent to one share of Common Stock.
2. F2. Phantom share units credited to the reporting person under The Coca-Cola Company Directors' Plan, as amended and restated effective June 1, 2025 (the "Directors' Plan") for 2025 compensation, prorated for 2025 as a result of the election of the reporting person to the Board of Directors on October 16, 2025.
3. F3. The phantom share units credited under the Directors' Plan are settled in cash the later of (i) January 15 of the year following the year in which the reporting person leaves the Board, or (ii) six months following the date on which the reporting person leaves the Board.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did KO disclose in this Form 4?

A grant to director Max R. Levchin of 1,118.0992 phantom share units on 10/16/2025 under the Directors’ Plan.

How many phantom share units were granted to Max R. Levchin?

He was credited with 1,118.0992 phantom share units.

What is the economic value reference for these units?

Each unit is economically equivalent to one share of common stock, with a reference price of $71.55.

When are the phantom share units settled?

They are settled in cash after the director leaves the Board, following the plan’s timing rules.

Why was the award prorated?

It was prorated for 2025 due to Levchin’s election to the Board on 10/16/2025.

Do these phantom units represent actual KO shares today?

No. They are bookkeeping units economically tied to common stock and are settled in cash after service ends.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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
Estimated average burden
hours per response:			0.5

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^*

Levchin Max R

(Last) (First) (Middle)

C/O AFFIRM HOLDINGS, INC.

650 CALIFORNIA STREET

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COCA COLA CO [ KO ]

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)
10/16/2025

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
Common Stock, $.25 Par Value								0	D

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
Phantom Share Units	$0(1)	10/16/2025		A		1,118.0992(2)		(3)	(3)	Common Stock, $.25 Par Value	1,118.0992	$71.55	1,118.0992	D

Explanation of Responses:

1. Each phantom share unit is economically equivalent to one share of Common Stock.

2. Phantom share units credited to the reporting person under The Coca-Cola Company Directors' Plan, as amended and restated effective June 1, 2025 (the "Directors' Plan") for 2025 compensation, prorated for 2025 as a result of the election of the reporting person to the Board of Directors on October 16, 2025.

3. The phantom share units credited under the Directors' Plan are settled in cash the later of (i) January 15 of the year following the year in which the reporting person leaves the Board, or (ii) six months following the date on which the reporting person leaves the Board.

	Max R. Levchin	10/20/2025
	** 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.
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