[SCHEDULE 13G/A] Zevia PBC SEC Filing

Rhea-AI Filing Summary

White Pine LLC and its parent Laird Norton Company LLC filed Amendment No. 4 to Schedule 13G disclosing that their combined beneficial ownership of Zevia PBC (ticker ZVIA) has fallen below the 5 % reporting threshold. As of 30 June 2025 they hold 951,548 Class A shares and 2,405,938 exchangeable Class B units/shares, totalling 3,357,486 shares, equal to 4.9 % of the Class A float and roughly 4.5 % of all outstanding capital stock. All voting and dispositive power is shared; neither entity has sole authority.

The amendment also corrects an earlier overstatement: Amendment No. 3 had reported 4,838,288 shares, but the accurate figure for 31 December 2024 was 4,747,490. Because the current stake is now below 5 %, this filing constitutes an exit filing; future 13G updates are not required unless ownership again exceeds the threshold.

Implications for investors are moderate. A previous >5 % holder has marginally reduced (or been diluted in) its position, slightly increasing Zevia’s free-float and diminishing the potential influence of White Pine/LNC on shareholder matters. No operational, financial or strategic changes are mentioned.

Insights

Securities Analyst

TL;DR: Ownership drops to 4.9 %; modest signal, limited market impact.

The exit filing shows White Pine/Laird Norton edging below the 5 % threshold with 3.36 million shares. The sell-down or dilution is small (≈390 K shares vs. prior correct count) and leaves them with a meaningful, but non-reportable, 4.9 % stake. Liquidity may improve marginally, yet no direct indication of a large block sale or strategic exit exists. Overall valuation impact should be neutral, subject to market perception of reduced insider alignment.

Corporate Governance Expert

TL;DR: Reduced ownership lessens concentrated influence; disclosure quality improved.

Crossing below 5 % removes White Pine/LNC from statutory reporting, slightly widening Zevia’s ownership dispersion. Governance risk tied to a single shareholder moderately declines. Importantly, the amendment corrects earlier misreporting, demonstrating regulatory compliance and mitigating potential SEC scrutiny. Because voting/dispositive power remains entirely shared, practical influence likely persists. Impact: incremental—not transformative—for governance dynamics.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

Zevia PBC

(Name of Issuer)

Class A Common Stock, $0.001 par value per share

(Title of Class of Securities)

98955K104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 98955K104

1

Names of Reporting Persons

White Pine LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

WASHINGTON

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,357,486.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,357,486.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,357,486.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Note to Items 6, 8, and 9: This Amendment No. 4 amends and supplements the Statement on Schedule 13G initially filed by the Reporting Person with the U.S. Securities and Exchange Commission ("SEC") on September 3, 2021 (as amended, the "Schedule 13G"). The purpose of this Amendment No. 4 is to (i) update the Reporting Person's beneficial ownership percentage in the Schedule 13G as of June 30, 2025, (ii) correct the Reporting Person's beneficial ownership information as reported on Amendment No. 3 to the Statement on Schedule 13G (as of December 31, 2024) in order to correct an inadvertent overstatement of the number of shares of Class A common stock, $0.001 par value per share (the "Class A Shares") of Zevia PBC (the "Issuer") beneficially owned by the Reporting Person disclosed therein and (iii) indicate that the Reporting Person has ceased to be the beneficial owner of more than five percent of the shares of the outstanding Class A common stock of the Issuer as of June 30, 2025. This Amendment No. 4 constitutes an exit filing for the Reporting Person. Amendment No. 3 to the Schedule 13G reported 4,838,288 Class A Shares beneficially owned by the Reporting Person and should have reported 4,747,490 Class A Shares beneficially owned by the Reporting Person, as of December 31, 2024. Note to Items 6, 8, and 9: This amount reflects 951,548 Class A Shares of the Issuer, 2,405,938 Class B units of Zevia LLC (the "Class B Units"), a subsidiary of the Issuer, and an equal number of shares of Class B common stock, $0.001 par value per share, of the Issuer (the "Class B Shares") for each Class B Unit held, all of which are directly and beneficially owned by White Pine LLC, a Washington limited liability company ("White Pine"), as of June 30, 2025. Each Class B Unit may be exchanged for one share of the Issuer's Class A common stock, or, at the Issuer's election, cash. Upon such exchange (or redemption for cash), the corresponding Class B Share is automatically retired. The aggregate number of Class B Shares beneficially owned by the Reporting Person are treated as converted into Class A common stock solely for the purpose of computing the percentage ownership of the Reporting Person. Note to Item 11: Based on the quotient obtained by dividing (a) 3,357,486, the sum of the Class A Shares and the Class B Shares beneficially owned by the Reporting Person as set forth in Row 9, by (b) the sum of (i) 66,064,650 shares of Class A common stock issued and outstanding as of May 2, 2025, as disclosed in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025 (the "Form 10-Q"), and (ii) 2,405,938 Class B Shares beneficially owned by the Reporting Person. Taking into account the 8,156,591 shares of Class B Common Stock issued and outstanding as of May 2, 2025, as disclosed in the Form 10-Q, White Pine beneficially owns approximately 4.5% of the Issuer's issued and outstanding capital stock. As a result of the Reporting Person no longer owning more than five percent of the Issuer's Class A common stock, this filing constitutes an exit filing for the Reporting Person.

SCHEDULE 13G

CUSIP No. 98955K104

1

Names of Reporting Persons

Laird Norton Co LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEVADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 3,357,486.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 3,357,486.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,357,486.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: Note to Items 6, 8, and 9: This Amendment No. 4 amends and supplements the Statement on Schedule 13G initially filed by the Reporting Person with the U.S. Securities and Exchange Commission ("SEC") on September 3, 2021 (as amended, the "Schedule 13G"). The purpose of this Amendment No. 4 is to (i) update the Reporting Person's beneficial ownership percentage in the Schedule 13G as of June 30, 2025, (ii) correct the Reporting Person's beneficial ownership information as reported on Amendment No. 3 to the Statement on Schedule 13G (as of December 31, 2024) in order to correct an inadvertent overstatement of the number of shares of Class A common stock, $0.001 par value per share (the "Class A Shares") of Zevia PBC (the "Issuer") beneficially owned by the Reporting Person disclosed therein and (iii) indicate that the Reporting Person has ceased to be the beneficial owner of more than five percent of the shares of the outstanding Class A common stock of the Issuer as of June 30, 2025. This Amendment No. 4 constitutes an exit filing for the Reporting Person. Amendment No. 3 to the Schedule 13G reported 4,838,288 Class A Shares beneficially owned by the Reporting Person and should have reported 4,747,490 Class A Shares beneficially owned by the Reporting Person, as of December 31, 2024. Note to Items 6, 8, and 9: This amount reflects 951,548 Class A Shares of the Issuer, 2,405,938 Class B units of Zevia LLC (the "Class B Units"), a subsidiary of the Issuer, and an equal number of shares of Class B common stock, $0.001 par value per share, of the Issuer (the "Class B Shares") for each Class B Unit held, all of which are directly and beneficially owned by White Pine LLC, a Washington limited liability company ("White Pine"), as of June 30, 2025. Each Class B Unit may be exchanged for one share of the Issuer's Class A common stock, or, at the Issuer's election, cash. Upon such exchange (or redemption for cash), the corresponding Class B Share is automatically retired. The aggregate number of Class B Shares beneficially owned by the Reporting Person are treated as converted into Class A common stock solely for the purpose of computing the percentage ownership of the Reporting Person. Note to Item 11: Based on the quotient obtained by dividing (a) 3,357,486, the sum of the Class A Shares and the Class B Shares beneficially owned by the Reporting Person as set forth in Row 9, by (b) the sum of (i) 66,064,650 shares of Class A common stock issued and outstanding as of May 2, 2025, as disclosed in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on May 7, 2025 (the "Form 10-Q"), and (ii) 2,405,938 Class B Shares beneficially owned by the Reporting Person. Taking into account the 8,156,591 shares of Class B Common Stock issued and outstanding as of May 2, 2025, as disclosed in the Form 10-Q, White Pine beneficially owns approximately 4.5% of the Issuer's issued and outstanding capital stock. As a result of the Reporting Person no longer owning more than five percent of the Issuer's Class A common stock, this filing constitutes an exit filing for the Reporting Person.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Zevia PBC
(b)	Address of issuer's principal executive offices: 15821 Ventura Blvd., Suite 135, Encino, California, 91436
Item 2.
(a)	Name of person filing: This statement on Schedule 13G (this "Statement") is being filed by White Pine LLC ("White Pine") and Laird Norton Company LLC ("LNC"). White Pine is an indirect, wholly owned subsidiary of LNC. White Pine and LNC are filing this Statement jointly pursuant to a Joint Filing Agreement incorporated by reference herein in accordance with Rule 13d-1(k)(1) under the Act.
(b)	Address or principal business office or, if none, residence: The principal business offices of White Pine and LNC are located at 801 Second Avenue, Suite 1700, Seattle, Washington 98104.
(c)	Citizenship: White Pine is a Washington limited liability company. LNC is a Nevada limited liability company.
(d)	Title of class of securities: Class A Common Stock, $0.001 par value per share
(e)	CUSIP No.: 98955K104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: The information set forth in rows 5-11 (including the footnotes thereto) on the cover pages to this Statement with respect to White Pine and LNC is hereby incorporated by reference herein.
(b)	Percent of class: 4.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: The information set forth in rows 5-11 (including the footnotes thereto) on the cover pages to this Statement with respect to White Pine and LNC is hereby incorporated by reference herein.
	(ii) Shared power to vote or to direct the vote: The information set forth in rows 5-11 (including the footnotes thereto) on the cover pages to this Statement with respect to White Pine and LNC is hereby incorporated by reference herein.
	(iii) Sole power to dispose or to direct the disposition of: The information set forth in rows 5-11 (including the footnotes thereto) on the cover pages to this Statement with respect to White Pine and LNC is hereby incorporated by reference herein.
	(iv) Shared power to dispose or to direct the disposition of: The information set forth in rows 5-11 (including the footnotes thereto) on the cover pages to this Statement with respect to White Pine and LNC is hereby incorporated by reference herein.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.	Certifications:
	Not Applicable

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

White Pine LLC

Signature:	/s/ Joseph Phelps
Name/Title:	Vice President, Legal & Secretary
Date:	07/03/2025

Laird Norton Co LLC

Signature:	/s/ Joseph Phelps
Name/Title:	Vice President, Legal & Secretary
Date:	07/03/2025

FAQ

Why did White Pine LLC file an exit Schedule 13G for ZVIA?

Because its combined stake fell to 4.9 %, below the 5 % reporting threshold, as of 30 June 2025.

How many Zevia shares does White Pine/Laird Norton currently own?

They beneficially own 3,357,486 shares (951,548 Class A and 2,405,938 Class B units/shares).

What was the correction made to the previous 13G filing?

Amendment No. 3 overstated holdings at 4,838,288 shares; the correct figure was 4,747,490 as of 31 Dec 2024.

Does White Pine have sole voting power over its ZVIA shares?

No. Both voting and dispositive power are shared between White Pine LLC and Laird Norton Company LLC.

Will White Pine/LNC continue to file 13G reports on ZVIA?

Not unless their ownership again exceeds 5 % of Zevia’s Class A common stock.