Mauricio Leyva - Mar 13, 2023 Form 4 Insider Report for Keurig Dr Pepper Inc. (KDP)

Role: Group President
Signature: /s/ Mark Jackson, attorney in fact
Stock symbol: KDP
Transactions as of: Mar 13, 2023
Transactions value $: -$984,722
Form type: 4
Date filed: 3/15/2023, 06:46 PM
Previous filing: Mar 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KDP	Common Stock	Options Exercise	$0	+57.4K	+19.67%	$0.00	349K	Mar 13, 2023	Direct	F1
transaction	KDP	Common Stock	Tax liability	-$985K	-28.8K	-8.23%	$34.25	321K	Mar 13, 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	KDP	Restricted Stock Unit	Options Exercise	$0	-57.4K	-60%	$0.00	38.3K	Mar 13, 2023	Common Stock	57.4K		Direct	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Restricted Stock units convert into common stock on a one-for-one basis.
F2	Shares withheld for payment of applicable taxes upon vesting of RSUs in accordance with Rule 16b-3.
F3	As previously disclosed, these RSUs were granted on March 12, 2020 and vest in three installments as follows: 60% on March 12, 2023; 20% on March 12, 2024, and 20% on March 12, 2025. Sixty percent of the RSUs vested on March 13, 2023, the first trading day following March 12, 2023. The RSUs converted into common stock on a one-for-one basis pursuant to the Issuer's Omnibus Stock Incentive Plan of 2019.