Keurig Dr Pepper Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Stock-Based Compensation
- Stock-Based Compensation
The components of stock-based compensation expense are presented below:
| Second Quarter | First Six Months | |||
|---|---|---|---|---|
| (in millions) | 2026 | 2025 | 2026 | 2025 |
| Total stock-based compensation expense(1) | $177 | $23 | $207 | $45 |
| Income tax benefit | (6) | (3) | (11) | (8) |
| Stock-based compensation expense, net of tax | $171 | $20 | $196 | $37 |
(1)For the second quarter and first six months of 2026, stock-based compensation expense includes $134 million related to the portion of the fair value of JDE Peet's stock-based compensation awards which were accelerated and which does not relate to pre-combination service.
RESTRICTED SHARE UNITS
The table below summarizes RSU activity:
| RSUs | Weighted Average Grant Date Fair Value | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (in millions) | |
|---|---|---|---|---|
| Outstanding as of December 31, 2025 | 13,120,837 | $29.62 | 1.8 | $368 |
| Granted(1) | 6,016,672 | 27.68 | ||
| Vested and released | (3,162,034) | 31.10 | 92 | |
| Forfeited | (1,028,810) | 29.23 | ||
| Outstanding as of June 30, 2026 | 14,946,665 | $28.55 | 1.9 | $489 |
(1)Includes certain legacy stock-based awards of JDE Peet’s which were converted into KDP awards as a result of the JDE Peet’s Acquisition. Refer to Note 2 for additional information.
As of June 30, 2026, there was $252 million of unrecognized compensation cost related to unvested RSUs that is expected to be recognized over a weighted average period of 2.8 years.
PERFORMANCE SHARE UNITS
The table below summarizes PSU activity:
| PSUs | Weighted Average Grant Date Fair Value | Weighted Average Remaining Contractual Term (Years) | Aggregate Intrinsic Value (in millions) | |
|---|---|---|---|---|
| Balance as of December 31, 2025 | 446,818 | $30.60 | 2.2 | $13 |
| Granted | 520,456 | 28.39 | ||
| Forfeited or expired | (107,178) | 29.74 | ||
| Balance as of June 30, 2026 | 860,096 | $29.37 | 2.2 | $28 |
As of June 30, 2026, there was $16 million of unrecognized compensation cost related to unvested PSUs that is expected to be recognized over a weighted average period of 2.3 years.
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