Are the phantom share units in this Coca-Cola (KO) filing real shares?

The phantom share units are not actual shares . Each unit is economically equivalent to one share of Coca-Cola common stock, but they are settled in cash under the Directors' Plan rather than delivered as shares.

When will Ana Botín’s Coca-Cola phantom share units be paid out?

The phantom share units are settled in cash the later of January 15 of the year following when she leaves the Board or six months after she leaves. This timing is specified in the Directors' Plan terms.

How many Coca-Cola phantom share units does Ana Botín hold after this grant?

After this grant, Ana Botín holds 84,628.3699 phantom share units under the Directors' Plan. This figure includes the new award plus phantom dividends credited through April 1, 2026 , reflecting cumulative accruals over time.

Coca-Cola (NYSE: KO) director Ana Botín granted phantom share units

Q: What did Ana Botín report in this Form 4 for Coca-Cola (KO)?

Ana Botín reported receiving 3,528.5582 phantom share units tied to Coca-Cola common stock. The units are part of her 2026 director compensation under the company’s Directors' Plan and increase her total phantom unit balance under that plan.

Q: Does Ana Botín hold Coca-Cola (KO) common stock indirectly?

Yes. 2,500 shares of Coca-Cola common stock are held by a Spanish limited company in which she indirectly holds a majority economic interest and over which she has investment control, making this an indirect ownership position.

Q: Is this Coca-Cola Form 4 an open-market purchase or sale by Ana Botín?

No. The filing reports a grant of phantom share units as director compensation, coded as an acquisition (A). It does not involve an open-market buy or sell of Coca-Cola common stock by her.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

BOTIN ANA reported acquisition or exercise transactions in this Form 4 filing.

COCA COLA CO director Ana Botín received a grant of 3,528.5582 phantom share units on April 1, 2026. Each phantom unit is economically equivalent to one share of common stock and was credited as part of her 2026 compensation under The Coca-Cola Company Directors' Plan, which can include voluntary deferred compensation.

Following this award, she holds 84,628.3699 phantom share units under the plan, including units added from credited phantom dividends through April 1, 2026. These phantom units are settled in cash after she leaves the Board, not in actual shares. Separately, 2,500 common shares are held indirectly by a Spanish limited company in which she holds a majority economic interest and over which she has investment control.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider BOTIN ANA

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Share Units	3,528.558	$75.81	$267K
holding	Common Stock, $.25 Par Value	--	--	--

Holdings After Transaction: Phantom Share Units — 84,628.37 shares (Direct); Common Stock, $.25 Par Value — 2,500 shares (Indirect, By Spanish limited company)

Footnotes (1)

Exhibit Index - Exhibit No. 24 - Power of Attorney These shares are held by a Spanish limited company in which the reporting person indirectly holds a majority of the economic interest and over which she has investment control. Each phantom share unit is economically equivalent to one share of Common Stock. Phantom share units credited to the reporting person under The Coca-Cola Company Directors' Plan effective June 1, 2025 (the "Directors' Plan") for 2026 compensation, which may include voluntary deferred compensation. 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. This number includes phantom share units accrued through April 1, 2026 under the Directors' Plan as a result of crediting phantom dividends.

Key Figures

Phantom units granted: 3,528.5582 units Phantom unit reference price: $75.81 per unit Total phantom units after grant: 84,628.3699 units +1 more

4 metrics

Phantom units granted 3,528.5582 units Grant on April 1, 2026 for 2026 compensation

Phantom unit reference price $75.81 per unit Economic reference value per phantom share unit

Total phantom units after grant 84,628.3699 units Phantom share units accrued under Directors' Plan through April 1, 2026

Indirect common stock holding 2,500 shares Common stock held by Spanish limited company with Ana Botín majority interest

Key Terms

Phantom Share Units, Directors' Plan, voluntary deferred compensation, phantom dividends, +1 more

5 terms

Directors' Plan financial

"Phantom share units credited to the reporting person under The Coca-Cola Company Directors' Plan effective June 1, 2025"

voluntary deferred compensation financial

"for 2026 compensation, which may include voluntary deferred compensation."

phantom dividends financial

"includes phantom share units accrued through April 1, 2026 under the Directors' Plan as a result of crediting phantom dividends."

Spanish limited company financial

"These shares are held by a Spanish limited company in which the reporting person indirectly holds a majority of the economic interest"

Form 4 Insider Transactions: What Each Field Means →

04/03/2026 - 03:23 PM

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^*

BOTIN ANA

(Last)

(First)

(Middle)

C/O THE COCA-COLA COMPANY

ONE COCA-COLA PLAZA

(Street)

ATLANTA

GEORGIA

30313

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, $.25 Par Value								2,500	I⁽¹⁾	By Spanish limited company⁽²⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Share Units	$0⁽³⁾	04/01/2026		A		3,528.5582⁽⁴⁾		⁽⁵⁾	⁽⁵⁾	Common Stock, $.25 Par Value	3,528.5582	$75.81	84,628.3699⁽⁶⁾	D

Explanation of Responses:

1. Exhibit Index - Exhibit No. 24 - Power of Attorney

2. These shares are held by a Spanish limited company in which the reporting person indirectly holds a majority of the economic interest and over which she has investment control.

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

4. Phantom share units credited to the reporting person under The Coca-Cola Company Directors' Plan effective June 1, 2025 (the "Directors' Plan") for 2026 compensation, which may include voluntary deferred compensation.

5. 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.

6. This number includes phantom share units accrued through April 1, 2026 under the Directors' Plan as a result of crediting phantom dividends.

	/s/ April Edwards, attorney-in-fact for Ana Botin	04/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Ana Botín report in this Form 4 for Coca-Cola (KO)?

Ana Botín reported receiving 3,528.5582 phantom share units tied to Coca-Cola common stock. The units are part of her 2026 director compensation under the company’s Directors' Plan and increase her total phantom unit balance under that plan.

Does Ana Botín hold Coca-Cola (KO) common stock indirectly?

Yes. 2,500 shares of Coca-Cola common stock are held by a Spanish limited company in which she indirectly holds a majority economic interest and over which she has investment control, making this an indirect ownership position.

Is this Coca-Cola Form 4 an open-market purchase or sale by Ana Botín?

No. The filing reports a grant of phantom share units as director compensation, coded as an acquisition (A). It does not involve an open-market buy or sell of Coca-Cola common stock by her.