secwatch.observer — SEC 8-K summary
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Issuer:     Keurig Dr Pepper Inc. (KDP)
CIK:        0001418135
Form:       8-K
Filed at:   2023-09-22T23:59:59+00:00
Accession:  0001418135-23-000016
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Keurig Dr Pepper appoints Tim Cofer as COO, plans CEO succession in Q2 2024
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- Tim Cofer appointed KDP COO effective Nov 6, 2023; will succeed Bob Gamgort as CEO in Q2 2024.
- Cofer receives $1.15M base salary as COO, target annual bonus 125%, LTIP target $3.5M.
- CEO compensation upon promotion: $1.25M base, target bonus 150%, LTIP target $4M.
- Sign-on package includes $7M RSUs (multi-year vest) and $8M cash bonus with clawback provisions.
- Cofer required to invest $12.5M in KDP stock; matching RSUs vest after 5 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1418135/000141813523000016/0001418135-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1418135/000141813523000016/kdp-20230918.htm
  HTML page:      https://secwatch.observer/filing/0001418135-23-000016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer