Zevia 10% holder CDP sells 2.97M shares at $2.73

CDP Investissements Inc., a wholly owned subsidiary of Caisse de dépôt et placement du Québec (CDPQ), sold 2,971,664 shares of Zevia PBC Class A Common Stock at $2.73 per share on September 30, 2025.

Rhea-AI Filing Summary

CDP Investissements Inc., a wholly owned subsidiary of Caisse de dépôt et placement du Québec (CDPQ), sold 2,971,664 shares of Zevia PBC Class A Common Stock at $2.73 per share on September 30, 2025. After this transaction, CDP directly held 17,050,428 shares. The Form 4 is filed jointly by CDPQ and CDP, with CDPQ potentially deemed a beneficial owner through its subsidiary relationship.

Insider Trade Summary

Net Seller: 2,971,664 shares

Net Sell 1 txn

Insider CAISSE DE DEPOT ET PLACEMENT DU QUEBEC, CDP Investissements Inc.

Role 10% Owner | 10% Owner

Sold 2,971,664 shs ($8.11M)

Type	Security	Shares	Price	Value
Sale	Class A Common Stock	2,971,664	$2.73	$8.11M

Holdings After Transaction: Class A Common Stock — 17,050,428 shares (Direct)

Footnotes (1)

1. F1. This Form 4 is filed jointly by Caisse depot et placement du Quebec ("CDPQ") and CDP Investissments Inc. ("CDP"). The securities are directly owned by CDP. CDP is a wholly owned subsidiary of CDPQ, and accordingly, CDPQ may be deemed to beneficially own the securities owned directly by CDP.

FAQ

What insider transaction did ZVIA report in this Form 4?

CDP Investissements Inc. sold 2,971,664 Zevia PBC shares. The sale involved Class A Common Stock at $2.73 per share on September 30, 2025, and was reported jointly with its parent, Caisse de dépôt et placement du Québec.

Who executed the Zevia PBC (ZVIA) share sale reported here?

CDP Investissements Inc. executed the share sale. CDP is a wholly owned subsidiary of Caisse de dépôt et placement du Québec, and directly owned the Zevia PBC Class A Common Stock involved in this September 30, 2025 transaction.

How many Zevia PBC (ZVIA) shares were sold and at what price?

2,971,664 Class A shares were sold at $2.73 each. The transaction, coded as a sale, occurred on September 30, 2025 and reflects a sizable disposal of Zevia PBC stock by CDP Investissements Inc.

How many Zevia PBC (ZVIA) shares did the insider hold after the sale?

CDP Investissements Inc. held 17,050,428 shares after the sale. This figure represents the direct beneficial ownership of Zevia PBC Class A Common Stock following the September 30, 2025 transaction reported on this Form 4.

What is the relationship between CDPQ and CDP in this ZVIA filing?

CDP is a wholly owned subsidiary of CDPQ. The filing states CDP directly owns the Zevia PBC shares, while Caisse de dépôt et placement du Québec may be deemed to beneficially own those securities through its ownership of CDP.

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Accepted by SEC EDGAR 01/28/2026 - 06:30 PM Learn about SEC filing dates

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^*

CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

(Last) (First) (Middle)

1000, PLACE JEAN-PAUL-RIOPELLE

(Street)

MONTREAL A8 H2Z 2B3

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Zevia PBC [ ZVIA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	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)

	Form filed by One Reporting Person
X	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 A Common Stock	09/30/2025		S		2,971,664	D	$2.73	17,050,428	D(1)

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

1. Name and Address of Reporting Person^*

CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

(Last) (First) (Middle)

1000, PLACE JEAN-PAUL-RIOPELLE

(Street)

MONTREAL A8 H2Z 2B3

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

CDP Investissements Inc.

(Last) (First) (Middle)

A12-1000 PLACE JEAN-PAUL RIOPELLE

(Street)

MONTREAL A8 H2Z 2B3

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. This Form 4 is filed jointly by Caisse depot et placement du Quebec ("CDPQ") and CDP Investissments Inc. ("CDP"). The securities are directly owned by CDP. CDP is a wholly owned subsidiary of CDPQ, and accordingly, CDPQ may be deemed to beneficially own the securities owned directly by CDP.

	Caisse de depot et Placement du Quebec By: /s/ Soulef Hadjoudj, Authorized Signatory	01/28/2026
	CDP Investissments Inc. By: /s/ Soulef Hadjoudj, Authorized Signatory	01/28/2026
	** 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.
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