Business Context and Reporting Period
This Form 6-K filing by Coca-Cola Europacific Partners Plc was submitted on March 20, 2024. The report serves as a notification of transactions involving Persons Discharging Managerial Responsibilities (PDMR) and persons closely associated with them. It details the vesting of Performance Share Units (PSUs) under the Company's 2021 Long-Term Incentive Plan (LTIP) and subsequent share sales to cover tax liabilities.
Key Financial Metrics and Transaction Details
The filing does not contain corporate financial statements (revenue, profit, cash flow, or debt). Instead, it reports specific equity transactions executed on March 18, 2024, on the Nasdaq Stock Market (XNAS).
- Instrument: Ordinary Shares of €0.01 each (ISIN: GB00BDCPN049).
- Acquisition Price: $0.00 (Shares issued upon vesting).
- Sale Price: $71.089542 per share (Weighted average price for tax-funded sales).
- Total Shares Acquired (Vesting): 215,741 Ordinary Shares across 13 executives.
- Total Shares Sold (Tax/Discretionary): 102,730 Ordinary Shares.
- Total Proceeds from Sales: Approximately $7,307,121.
Material Changes and Transaction Summary
The filing documents a routine compensation event rather than a material change in business operations. All transactions occurred on a single date (March 18, 2024). The primary activity was the vesting of LTIP awards, followed by mandatory or discretionary sales to satisfy tax obligations.
| Executive Name | Position | Shares Acquired | Shares Sold | Sale Proceeds (USD) |
|---|---|---|---|---|
| Damian Gammell | CEO | 138,201 | 64,983 | $4,619,611.71 |
| Manik Jhangiani | CFO | 60,631 | 28,509 | $2,026,691.75 |
| Stephen Moorhouse | GM, Great Britain | 17,352 | 17,352 | $1,233,545.73 |
| Jose Antonio Echeverria | CCSO | 15,376 | 11,230 | $798,335.56 |
| Peter West | GM, Australia/Pacific | 22,754 | 11,350 | $806,866.30 |
| Leendert den Hollander | GM, Northern Europe | 21,751 | 10,228 | $727,103.84 |
| Stephen Lusk | CCO | 17,304 | 8,137 | $578,455.60 |
| Peter Brickley | CIO | 17,087 | 8,035 | $571,204.47 |
| Victor Rufart | CIO | 13,868 | 6,521 | $463,574.90 |
| John Galvin | GM, Germany | 7,532 | 3,578 | $254,358.38 |
| Clare Wardle | General Counsel | 18,795 | 8,838 | $628,289.37 |
| Veronique Vuillod | Chief People Officer | 14,475 | 0 | $0.00 |
| Ana Callol | Chief Public Affairs | 2,246 | 1,057 | $75,141.65 |
Guidance, Outlook, and Risks
The filing text does not provide management commentary, financial guidance, outlook, or risk factors. The document is strictly a regulatory disclosure of insider trading activity related to equity compensation.
Key Facts for Investor Verification
- Transaction Nature: All acquisitions were non-cash issuances resulting from the vesting of 2021 LTIP Performance Share Units.
- Tax Funding: The majority of share sales were executed on a "non-discretionary basis" specifically to fund tax liabilities associated with the vesting event.
- Discretionary Sales: Two executives (Jose Antonio Echeverria and Stephen Moorhouse) executed additional discretionary sales beyond the tax withholding requirements.
- Market Price: The transactions reflect a share price of approximately $71.09 on March 18, 2024.
- No Financial Data: Investors should not look to this filing for revenue, earnings, or liquidity metrics; those are found in the Company's Form 20-F or quarterly reports.