Justin Whitmore - Mar 4, 2024 Form 4 Insider Report for Keurig Dr Pepper Inc. (KDP)

Role: Chief Strategy Officer
Signature: /s/ Mark Jackson, attorney in fact
Stock symbol: KDP
Transactions as of: Mar 4, 2024
Transactions value $: -$349,753
Form type: 4
Date filed: 3/5/2024, 07:12 PM
Previous filing: Mar 7, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	KDP	Common Stock	Options Exercise	$0	+23.5K	+21.11%	$0.00	135K	Mar 4, 2024	Direct	F1
transaction	KDP	Common Stock	Options Exercise	$0	+20.4K	+15.13%	$0.00	155K	Mar 4, 2024	Direct	F1
transaction	KDP	Common Stock	Tax liability	-$350K	-12K	-7.74%	$29.10	143K	Mar 4, 2024	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	-23.5K	-60%	$0.00	15.7K	Mar 4, 2024	Common Stock	23.5K		Direct	F3
transaction	KDP	Restricted Stock Unit	Options Exercise	$0	-20.4K	-33.33%	$0.00	40.8K	Mar 4, 2024	Common Stock	20.4K		Direct	F4
transaction	KDP	Restricted Stock Unit	Award	$0	+41.2K		$0.00	41.2K	Mar 4, 2024	Common Stock	41.2K		Direct	F5

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

Explanation of Responses:

Id	Content
F1	Restricted stock units ("RSUs") 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 3, 2021 and vest in three installments as follows: 60% on March 3, 2024; 20% on March 3, 2025, and 20% on March 3, 2026. Sixty percent of the RSUs vested on March 4, 2024, the first trading day following March 3, 2024. The RSUs converted into common stock on a one-for-one basis pursuant to the Issuer's Omnibus Stock Incentive Plan of 2019.
F4	As previously disclosed, these RSUs were granted on March 3, 2021 and vest in four installments as follows: 25% on March 3, 2023; 25% on March 3, 2024; 25% on March 3, 2025; and 25% on March 3, 2026. Twenty-five percent of the RSUs vested on March 4, 2024, the first trading day following March 3, 2024. The RSUs converted into common stock on a one-for-one basis pursuant to the Issuer's Omnibus Stock Incentive Plan of 2019.
F5	Subject to certain vesting conditions and exceptions, these RSUs vest in three installments as follows: 60% on March 4, 2027; 20% on March 4, 2028, and 20% on March 4, 2029. Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.