Business Context and Reporting Period
This Form 8-K Current Report was filed by Keurig Dr Pepper Inc. on October 21, 2022, regarding events reported on October 24, 2022. The filing discloses the appointment of a new Chief Financial Officer and the associated compensatory arrangements.
Key Financial Metrics
This filing does not contain operational financial metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The financial data presented relates exclusively to executive compensation.
- Annual Base Salary: $850,000
- Target Annual Bonus: 80% of base salary ($680,000)
- Long-Term Equity Target Value: $2,200,000 annually
- One-Time RSU Sign-On Grant: $3,000,000 (vesting 67% in year 1, 33% in year 2)
- One-Time Cash Sign-On Bonus: $3,850,000
Material Changes
The material change disclosed is the appointment of Sudhanshu Priyadarshi as Chief Financial Officer, effective November 14, 2022. Mr. Priyadarshi joins from Vista Outdoor Inc., where he served as CFO from April 2020 to October 2022. Prior experience includes CFO roles at Flexport, Inc. and various finance leadership positions at Walmart, Inc.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or management commentary regarding the company's future financial performance. No specific risks or contingencies related to the company's operations are disclosed in this report. The filing confirms there are no related party transactions reportable under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the effective start date of the new CFO (November 14, 2022).
- Confirm the vesting schedule for the $3,000,000 RSU sign-on grant.
- Review the total cash compensation impact ($850,000 base + $680,000 target bonus + $3,850,000 sign-on).
- Check for any subsequent filings regarding the departure of the previous CFO.