TAP: Director Herington Adds 318 Deferred Units, Now Owns 60,943 Shares

Rhea-AI Filing Summary

Charles M. Herington, a director of Molson Coors Beverage Co. (TAP), reported acquiring 318 Class B common stock units on 09/30/2025 as deferred stock units granted in lieu of director cash compensation. The filing shows the units were granted at a $0 purchase price and that the reporting person now beneficially owns 60,943 shares of Class B common stock. The deferred stock units vest in full only upon the reporting person's termination as a director, according to the explanation in the filing. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 10/02/2025.

Positive

• 318 deferred stock units granted in lieu of cash, aligning director compensation with shareholder equity
• Reporting person’s beneficial ownership increased to 60,943 Class B shares, showing continued equity stake

Negative

• None.

Insights

Corporate Governance Analyst

Director accepted deferred stock units instead of cash; vesting is tied to termination.

The filing discloses a compensation election where 318 deferred stock units were granted on 09/30/2025 in lieu of cash director fees. This preserves cash for the company while increasing the director's equity exposure.

Because the units vest only upon the director's termination, they function as deferred compensation rather than immediately liquid equity; this affects when the director can realize value.

Equity Ownership Specialist

Reporting shows total beneficial ownership of 60,943 Class B shares after the grant.

The Form 4 records the director's beneficial ownership increasing by 318 units to a total of 60,943 shares, with the acquisition recorded at $0. The zero price reflects a grant rather than a market purchase.

This is a routine director compensation disclosure and does not show any open-market purchases or sales by the reporting person.

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).

1. Name and Address of Reporting Person^*

HERINGTON CHARLES M

(Last) (First) (Middle)

P.O. BOX 4030

BC555

(Street)

GOLDEN CO 80401

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
MOLSON COORS BEVERAGE CO [ TAP ]

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)
09/30/2025

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
Class B Common Stock	09/30/2025		A		318	A	$0(1)	60,943	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 reporting person received a deferred stock unit grant in lieu of director cash compensation. The deferred stock units vest in full upon the reporting person's termination as a director.

Remarks:

	/s/ David P. Knaff, attorney-in-fact	10/02/2025
	** 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

What did Molson Coors director Charles M. Herington report on Form 4 (TAP)?

He reported receiving 318 Class B deferred stock units on 09/30/2025, granted in lieu of cash compensation.

At what price were the deferred stock units granted?

The Form 4 shows the units were granted at a purchase price of $0.

How many Class B shares does the reporting person own after the grant?

The filing reports beneficial ownership of 60,943 Class B common shares following the transaction.

When do the deferred stock units vest?

The filing states the deferred stock units vest in full upon the reporting person's termination as a director.

When was the Form 4 signed and filed?

The signature by an attorney-in-fact is dated 10/02/2025, and the transaction date is 09/30/2025.