Business Context and Reporting Period
This Form 6-K filing by Coca-Cola Europacific Partners Plc covers the period from September 1, 2021, to September 30, 2021, with the report filed on October 1, 2021. The document serves as a report of foreign private issuer pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934. It primarily details transactions by Persons Discharging Managerial Responsibilities (PDMR), updates on share incentive schemes, and the total voting rights and share capital as of September 30, 2021.
Key Financial Metrics
The filing text does not provide financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on corporate governance disclosures, specifically share transactions and capital structure.
| Metric | Value |
|---|---|
| Total Ordinary Shares in Issue | 455,947,839 |
| Share Par Value | €0.01 |
| Total Voting Rights | 455,947,839 |
| Treasury Shares | 0 |
Material Changes and Share Transactions
The filing reports several material changes regarding share ownership and incentive schemes during September 2021:
- Block Listing Update: Between March 17, 2021, and September 16, 2021, 669,847 securities were issued/allotted under the Coca-Cola Enterprises, Inc. 2010 Incentive Award Plan and the Coca-Cola European Partners plc Long-Term Incentive Plan 2016. The remaining balance of unallotted securities is 14,480,603.
- PDMR Sales:
- Leendert den Hollander (General Manager, Northern Europe) sold 2,000 shares on September 3, 2021, at approximately $61.17 per share.
- Stephen Moorhouse (General Manager, Great Britain) sold 17,155 shares on September 7, 2021, at approximately $60.29 per share, following the exercise of options.
- PDMR Acquisitions:
- Stephen Moorhouse acquired 17,155 shares on September 7, 2021, via option exercise at $19.68 per share.
- Jan Bennink (Non-executive Director) acquired 16,650 shares on September 8, 2021, at a weighted average price of $59.89.
- Multiple executives (including the CFO, General Counsel, and CIO) acquired small fractions of shares (approx. 6-7 shares each) on September 20, 2021, pursuant to the UK Share Plan.
- Performance Share Unit (PSU) Grants: On September 29, 2021, target awards of PSUs were granted to numerous executives, including the CEO (Damian Gammell) and CFO (Manik Jhangiani). These awards vest on March 15, 2024, subject to performance conditions. The total number of PSUs granted in this batch exceeds 150,000 shares.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook, or specific risk factors. The document is a regulatory disclosure of share transactions and capital data rather than a financial results report.
Key Facts for Investor Verification
- Share Capital: Verify the total share count of 455,947,839 as the denominator for calculating shareholder notification thresholds under FCA rules.
- Executive Compensation: Note the significant grant of Performance Share Units (PSUs) to senior leadership on September 29, 2021, which ties future equity value to performance conditions vesting in March 2024.
- Insider Trading Activity: Review the specific sale transactions by Leendert den Hollander and Stephen Moorhouse to assess insider sentiment, noting that Moorhouse's sale was partially non-discretionary to fund tax liabilities.
- Incentive Plan Capacity: Confirm the remaining pool of 14,480,603 unallotted shares available for future issuance under the company's incentive plans.