Keurig Dr Pepper Inc.
For the period ended Sep 30, 2026. Filed Nov 9, 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.
Sep 30, 2026 · Filed Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Stock-Based Compensation
- Stock-Based Compensation
The components of stock-based compensation expense are presented below:
| Third Quarter | First Nine Months | |||
|---|---|---|---|---|
| (in millions) | 2026 | 2025 | 2026 | 2025 |
| Total stock-based compensation expense(1) | $33 | $25 | $240 | $70 |
| Income tax benefit | (7) | (5) | (18) | (13) |
| Stock-based compensation expense, net of tax | $26 | $20 | $222 | $57 |
(1)For the first nine 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) | 6,480,088 | 27.81 | ||
| Vested and released | (3,404,940) | 30.98 | 100 | |
| Forfeited | (1,711,028) | 28.79 | ||
| Outstanding as of September 30, 2026 | 14,484,957 | $28.59 | 1.7 | $439 |
(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 September 30, 2026, there was $227 million of unrecognized compensation cost related to unvested RSUs that is expected to be recognized over a weighted average period of 2.6 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 | 539,219 | 28.42 | ||
| Vested and released | (2,154) | 30.27 | — | |
| Forfeited or expired | (130,536) | 29.64 | ||
| Balance as of September 30, 2026 | 853,347 | $29.37 | 2.0 | $26 |
As of September 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 2.1 years.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.