Business Context and Reporting Period
This Form 6-K filing by Coca-Cola Europacific Partners Plc was submitted on March 22, 2023. The report serves as a notification of transactions involving Persons Discharging Managerial Responsibilities (PDMR) and persons closely associated with them. The filing details the vesting of Performance Share Units (PSUs) under the Company's Long-Term Incentive Plan 2020 and subsequent non-discretionary sales to cover tax liabilities.
Key Financial Metrics
The filing does not contain corporate financial statements, revenue, profit, cash flow, or debt metrics. It exclusively reports on insider trading activity. Key transaction metrics include:
- Transaction Date: March 17, 2023
- Trading Venue: The Nasdaq Stock Market LLC (XNAS)
- Instrument: Ordinary Shares (ISIN: GB00BDCPN049)
- Acquisition Price: $0.00 (Vesting of PSUs)
- Sale Price: $55.397401 per share (Weighted average for all sales)
Material Changes and Transaction Summary
The filing reports transactions for 13 senior executives. Each transaction involved the acquisition of shares via PSU vesting followed by a partial or full sale to fund tax obligations. There are no material changes to the company's operations or financial position reported in this document.
| Executive Name | Position | Shares Acquired (Vested) | Shares Sold (Tax) | Net Share Change |
|---|---|---|---|---|
| Damian Gammell | Chief Executive Officer | 144,545 | 46,497 | +98,048 |
| Manik Jhangiani | Chief Financial Officer | 60,446 | 28,426 | +32,020 |
| Clare Wardle | General Counsel & Company Secretary | 19,659 | 9,245 | +10,414 |
| Peter Brickley | Chief Information Officer | 17,871 | 8,404 | +9,467 |
| Ana Callol | Chief Public Affairs, Communications and Sustainability Officer | 2,230 | 1,049 | +1,181 |
| Leendert den Hollander | General Manager, Northern Europe | 22,750 | 10,699 | +12,051 |
| Jose Antonio Echeverria | Chief Customer Service and Supply Chain Officer | 15,714 | 7,390 | +8,324 |
| Stephen Lusk | Chief Commercial Officer | 18,523 | 8,711 | +9,812 |
| John Galvin | General Manager, Germany | 7,547 | 3,586 | +3,961 |
| Stephen Moorhouse | General Manager, Great Britain | 16,924 | 16,924 | 0 |
| Victor Rufart | Chief Integration Officer | 14,173 | 6,665 | +7,508 |
| Veronique Vuillod | Chief People and Culture Officer | 3,151 | 0 | +3,151 |
| Francois Gay Bellile | General Manager, France | 16,293 | 0 | +16,293 |
Guidance, Outlook, and Risks
This filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The document is strictly a regulatory disclosure of insider trading activity.
Key Facts for Investor Verification
- Market Price Context: The weighted average sale price of $55.397401 reflects the market value of the stock on March 17, 2023.
- Tax-Driven Sales: All sales were executed on a non-discretionary basis solely to fund tax liabilities arising from the vesting of equity awards.
- Net Retention: With the exception of Stephen Moorhouse (who sold 100% of vested shares) and Veronique Vuillod/Francois Gay Bellile (who sold 0%), all executives retained a portion of their vested shares, indicating a net increase in insider ownership.
- Plan Details: The shares originated from the Long-Term Incentive Plan 2020 (LTIP).