---
schema_version: "secwatch.filing_event.v1"
accession: "0001418135-21-000024"
form_type: "8-K"
ticker: "KDP"
cik: "0001418135"
company_name: "Keurig Dr Pepper Inc."
filed_at: "2021-09-24T23:59:59+00:00"
generated_at: "2026-06-29T01:30:24.616153+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# KDP NEO Fernando Cortes departs; separation agreement provides $5.12M in cash payments

## Summary
- Fernando Cortes, named executive officer, separated from KDP effective Sep 24, 2021 under separation agreement.
- Severance benefits of $1,620,000 (1.5x base salary + target bonus) paid in installments.
- Leadership Integration Bonus of $3,500,000 lump sum paid within 30 business days.
- Eligible for pro-rata FY 2021 annual incentive under Short Term Incentive Program.
- Agreement includes 2-year non-compete, non-solicit, and release of claims.

## SEC filing metadata
- accession: 0001418135-21-000024
- form_type: 8-K
- ticker: KDP
- cik: 0001418135
- company_name: Keurig Dr Pepper Inc.
- filed_at: 2021-09-24T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1418135/000141813521000024/0001418135-21-000024-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1418135/000141813521000024/kdp-20210924.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001418135-21-000024
- JSON: https://secwatch.observer/filing/0001418135-21-000024.json
- Plain text: https://secwatch.observer/filing/0001418135-21-000024.txt

## Key facts
- Executive change
  Fernando Cortes departed as named executive officer at Keurig Dr Pepper Inc..
  - Action: departed
  - Role: named executive officer
  source text: On August 30, 2021, Keurig Dr Pepper Inc. (the “Company”) announced the departure of Fernando Cortes, a named executive officer in the Company’s 2021 Proxy Statement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1418135/000141813521000024/0001418135-21-000024-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.