PepsiCo Director David W. Gibbs Receives Annual/Quarterly Stock Award

Insider Filing Analysis: PepsiCo, Inc. ($PEP)

Summary

On October 5, 2026, PepsiCo Director David W. Gibbs filed a Form 4 reporting the acquisition of phantom stock units under the company's director compensation and deferral programs.

Key Details

• Transactions Reported:
  1. 2026-09-30: Acquisition of 13.7558 phantom shares via dividend equivalent reinvestment under the PepsiCo Director Deferral Program (prices ranged between $126.72 and $135.40).
  2. 2026-10-01: Routine director compensation award of 1,592.3566 phantom stock units at $125.60 per share, totaling $200,000.00.
• Post-Transaction Holdings: Total direct ownership increased to 3,211.0987 shares.
• Nature of Units: Payable on a one-for-one basis in Common Stock starting the first day of the calendar quarter following the first anniversary of retirement or resignation from the Board.

Market Impact & Significance

• Significance Level: Low
• These transactions represent routine non-open-market equity compensation for board service and automated dividend reinvestment, carrying minimal predictive value regarding future stock performance.