PEP Form 4: Director reports 900,000 LLC-held shares and 1,397 units
Rhea-AI Filing Summary
Robert C. Pohlad, a director of PepsiCo, Inc. (PEP), reported acquisitions of phantom stock units that will be paid in shares. The filing shows 693.6748 units credited between 10/01/2024 and 09/30/2025 via reinvested dividend equivalents and an additional 1,397.2334 units received on 10/01/2025 at a reported price of $143.14 per share. After the reported transactions, the filing lists 189,159.8613 shares beneficially owned by the reporting person. The report also discloses 900,000 shares held indirectly in a limited liability company and 27 shares held by the reporting person’s spouse. The phantom units noted will convert to one-for-one shares under the PepsiCo Director Deferral Program, with some units payable following retirement or resignation.
Positive
- Director acquired additional phantom units totaling 2,090.9082 units that convert one-for-one to shares
- Post-transaction beneficial ownership reported at 189,159.8613 shares, increasing transparency
- 900,000 shares held indirectly in an LLC are explicitly disclosed, clarifying ownership structure
Negative
- None.
Insights
Director increased equity stake via phantom units and deferrals.
What it means: The director acquired 693.6748 dividend-reinvested phantom units over the prior year and 1,397.2334 director awards on 10/01/2025, which convert one-for-one into common shares under the PepsiCo Director Deferral Program.
Why it matters: These filings disclose ownership and timing mechanics: some awards are payable only after the director’s retirement/resignation, affecting when additional shares enter public circulation and when the director’s economic exposure changes.
Beneficial ownership includes direct, indirect, and spousal holdings totaling material share counts.
What it means: The filing shows 189,159.8613 shares following the transactions, with a notable 900,000 shares held indirectly via an LLC and 27 by a spouse, all explicitly reported on Form 4.
Why it matters: The combined direct and indirect holdings are disclosed for investor transparency and may be used by stakeholders to assess insider alignment with shareholder interests; the filing states the acquisition price for the 10/01/2025 units as $143.14.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | PepsiCo, Inc. Common Stock | 1,397.233 | $143.14 | $200K |
| holding | PepsiCo, Inc. Common Stock | -- | -- | -- |
| holding | PepsiCo, Inc. Common Stock | -- | -- | -- |
| Grant/Award | PepsiCo, Inc. Common Stock | 693.675 | $0.00 | -- |
Footnotes (1)
- This number includes the phantom stock units acquired on various dates between October 1, 2024 and September 30, 2025 through reinvestment of dividend equivalents pursuant to the PepsiCo Director Deferral Program, at prices ranging from $132.04 to $149.94, payable in shares of PepsiCo Common Stock on a one-for-one basis. This number represents the filing person's phantom stock units received for service as a director that are payable in shares of PepsiCo Common Stock on a one-for-one basis commencing on the first day of the calendar quarter following the first anniversary of the filing person's retirement or resignation from PepsiCo's Board of Directors.
