KO Form 4: Europe OU President offloads $2.6 m in stock

Rhea-AI Filing Summary

KO Form 4 (filed 08/07/2025, trade date 08/05/2025): Europe OU President Nikolaos Koumettis sold 37,396 shares of Coca-Cola common stock. The open-market transaction (Code “S”) was executed at a weighted-average price of $69.1011 within a $69.08-$69.135 range. After the sale, the insider’s direct holdings decline to 209,513 shares; no indirect or derivative positions were reported.

No shares were purchased and no derivatives exercised; the filing does not list a 10b5-1 plan check-box as marked. This single disposal equals roughly 15% of Koumettis’s previously reported direct stake but is immaterial relative to Coca-Cola’s ~4.3 bn shares outstanding.

Insider sales can reflect diversification rather than a view on fundamentals, yet sustained or clustered selling may warrant monitoring. Overall company financials and guidance are unaffected by this isolated Form 4.

Positive

• Insider retains 209,513 shares, indicating continued equity alignment.
• No derivative disposals reported, suggesting insider maintains option-based incentives.

Negative

• 37,396-share sale (≈15% of holding) could be perceived as reduced confidence.
• Filing does not confirm a Rule 10b5-1 plan, leaving motive unclear to investors.

Insights

Securities Analyst

TL;DR: One officer sold ~37k KO shares (~$2.6 m); holdings remain >200k; minor signal, not thesis-changing.

The transaction nets roughly $2.6 million and lowers Koumettis’s direct ownership by about 15%. With Coca-Cola’s market cap above $300 billion, the sale is statistically insignificant to float and liquidity. Lack of derivative activity or multiple officers involved suggests routine portfolio management. Unless followed by additional sales from senior executives, the filing should not meaningfully influence valuation models or risk assessments.

Portfolio Manager

TL;DR: Routine insider cash-out; watch for patterns, but no immediate portfolio action required.

Size of sale equals roughly 0.005% of average daily KO volume, limiting market impact. Insider retains a sizeable stake, maintaining alignment with shareholders. I view the event as neutral; however, an uptick in insider selling across the C-suite would prompt governance and sentiment review.

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^*

KOUMETTIS NIKOLAOS

(Last) (First) (Middle)

THE COCA-COLA COMPANY

ONE COCA-COLA PLAZA

(Street)

ATLANTA GA 30313

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
08/05/2025

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	08/05/2025		S		37,396	D	$69.1011(1)	209,513	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

Explanation of Responses:

1. The price is the weighted average sale price of the aggregate number of shares that were sold by the reporting person. These shares were sold in multiple transactions at prices ranging from $69.08 to $69.135. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

	/s/ Shequitta Parker, attorney-in-fact for Nikolaos Koumettis	08/07/2025
	** 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

How many Coca-Cola (KO) shares did Nikolaos Koumettis sell?

The filing reports a sale of 37,396 common shares on 08/05/2025.

What was the average sale price for the insider transaction?

The weighted-average price was $69.1011, with trades between $69.08 and $69.135.

How many KO shares does the insider own after the sale?

Koumettis now directly owns 209,513 Coca-Cola shares.

Did the Form 4 include any derivative security activity?

No; Table II shows zero derivative transactions during the reported period.

Is this sale part of a Rule 10b5-1 trading plan?

The form includes a 10b5-1 checkbox, but it is not marked as selected, so plan status is unconfirmed.