'PepsiCo' CEO Sells Millions in Shares Following Large Stock Compensation

On March 1, PepsiCo Inc. (PEP) granted CEO Ramon Laguarta new performance share units (PSUs) that vest upon meeting performance targets through 2029 and restricted stock units (RSUs) that vest in three equal annual installments. The company also canceled existing PSUs that failed to meet goals and withheld common shares to cover taxes arising from PSU vesting. On the same day, Silviu Popovici, CEO of Europe, Middle East & Africa, and Krishnan Ramkumar, CEO of North America, received similarly structured PSUs and RSUs. Although some of their prior PSUs were canceled, Popovici still holds about 170,000 shares and Ramkumar about 95,000 shares in combined direct and indirect common stock after taxes.

On March 2, Laguarta sold 27,945 shares of common stock on the open market at an average price of $167.39 per share, converting roughly $4.7 million (approximately KRW 6.1 billion) to cash, yet he remains the direct owner of more than 520,000 shares of PepsiCo common stock.

Also on March 1, U.S. law firm Scott+Scott announced it had launched an investigation into whether PepsiCo’s directors and officers breached their fiduciary duties to the company and its shareholders in connection with a December 2025 antitrust lawsuit filed by consumers over discount and pricing policies. In its latest quarterly results, PepsiCo slightly exceeded its guidance, maintained a dividend yield of about 3.4%, and reaffirmed up to $10 billion in share repurchases. Analyst consensus remains at a “hold” rating, with a target price in the high $160s.

Headquartered in Purchase, New York, PepsiCo is a global food and beverage company whose portfolio includes Pepsi and Mountain Dew soft drinks, Gatorade sports beverages, Tropicana juices, Quaker cereals, and snack brands such as Lay’s, Doritos, and Cheetos, sold worldwide. Since its 1965 formation through the merger of Pepsi-Cola and Frito-Lay, the company has expanded via acquisitions, joint ventures, and brand extensions to become a leading consumer-staples giant alongside Coca-Cola in the global beverage and snack markets.