8-K

PEPSICO INC (PEP)

8-K 2023-05-05 For: 2023-05-03
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Added on April 08, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 3, 2023

PepsiCo, Inc.

(Exact name of registrant as specified in its charter)

North Carolina 1-1183 13-1584302
(State or other jurisdiction<br>of incorporation) (Commission<br>File Number) (IRS Employer<br>Identification No.)

700 Anderson Hill Road, Purchase, New York 10577

(Address of principal executive offices and Zip Code)

Registrant’s telephone number, including area code: (914) 253-2000

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | | --- | --- || ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | | --- | --- || ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | | --- | --- || ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | | --- | --- |

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934: Title of each classTrading SymbolsName of each exchange on which registeredCommon Stock, par value 1-2/3 cents per sharePEPThe Nasdaq Stock Market LLC0.250% Senior Notes Due 2024PEP24The Nasdaq Stock Market LLC2.625% Senior Notes Due 2026PEP26The Nasdaq Stock Market LLC0.750% Senior Notes Due 2027PEP27The Nasdaq Stock Market LLC0.875% Senior Notes Due 2028PEP28The Nasdaq Stock Market LLC0.500% Senior Notes Due 2028PEP28aThe Nasdaq Stock Market LLC3.200% Senior Notes Due 2029PEP29The Nasdaq Stock Market LLC1.125% Senior Notes Due 2031PEP31The Nasdaq Stock Market LLC0.400% Senior Notes Due 2032PEP32The Nasdaq Stock Market LLC0.750% Senior Notes Due 2033PEP33The Nasdaq Stock Market LLC3.550% Senior Notes Due 2034PEP34The Nasdaq Stock Market LLC0.875% Senior Notes Due 2039PEP39The Nasdaq Stock Market LLC1.050% Senior Notes Due 2050PEP50The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.07. Submission of Matters to a Vote of Security Holders.

PepsiCo, Inc. (“PepsiCo”) held its 2023 Annual Meeting of Shareholders on May 3, 2023. For more information on the following proposals, see PepsiCo’s proxy statement for the 2023 Annual Meeting of Shareholders, filed with the Securities and Exchange Commission on March 21, 2023. Below are the final voting results.

(1) The following 15 persons were elected to serve as directors of PepsiCo:

Nominee For Against Abstain Broker Non-Votes
Segun Agbaje 1,005,178,935 12,334,137 2,634,817 172,969,325
Jennifer Bailey 1,013,605,781 4,200,722 2,341,386 172,969,325
Cesar Conde 995,535,275 21,945,852 2,666,762 172,969,325
Ian Cook 970,556,463 46,852,800 2,738,626 172,969,325
Edith W. Cooper 1,009,691,687 7,917,877 2,538,325 172,969,325
Susan M. Diamond 1,013,305,062 4,427,794 2,415,033 172,969,325
Dina Dublon 985,425,035 32,153,405 2,569,449 172,969,325
Michelle Gass 1,000,092,389 17,641,092 2,414,408 172,969,325
Ramon L. Laguarta 943,626,804 69,085,058 7,436,027 172,969,325
Dave J. Lewis 1,006,427,071 11,070,996 2,649,822 172,969,325
David C. Page, MD 1,003,283,751 14,249,896 2,614,242 172,969,325
Robert C. Pohlad 979,380,661 38,117,910 2,649,318 172,969,325
Daniel Vasella, MD 955,503,117 61,979,746 2,665,026 172,969,325
Darren Walker 1,000,905,148 16,593,233 2,649,508 172,969,325
Alberto Weisser 981,592,374 35,889,239 2,666,276 172,969,325

(2) The shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for PepsiCo for fiscal year 2023:

For 1,125,448,378
Against 65,112,424
Abstain 2,556,412

(3) The shareholders approved, on an advisory basis, PepsiCo’s executive compensation:

For 901,248,622
Against 110,102,370
Abstain 8,796,897
Broker Non-Votes 172,969,325

(4) The shareholders approved, on an advisory basis, the holding of an advisory vote on the compensation of PepsiCo’s named executive officers every year:

One Year 994,856,204
Two Years 4,331,004
Three Years 17,603,165
Abstain 3,357,516
Broker Non-Votes 172,969,325

In light of the voting results on this advisory vote, and consistent with its recommendation to shareholders, PepsiCo’s Board of Directors has decided that PepsiCo will hold an advisory vote on the compensation of PepsiCo’s named executive officers every year.

(5) The shareholder proposal regarding independent Board Chair was defeated:

For 250,838,697
Against 746,982,272
Abstain 22,326,920
Broker Non-Votes 172,969,325

(6) The shareholder proposal regarding a global transparency report was defeated:

For 185,034,699
Against 814,416,953
Abstain 20,696,237
Broker Non-Votes 172,969,325

(7) The shareholder proposal regarding a report on impacts of reproductive healthcare legislation was defeated:

For 158,917,578
Against 830,627,354
Abstain 30,602,957
Broker Non-Votes 172,969,325

(8) The shareholder proposal regarding a congruency report on net-zero emissions policies was defeated:

For 19,718,780
Against 977,228,788
Abstain 23,200,321
Broker Non-Votes 172,969,325

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PEPSICO, INC.
Date: May 5, 2023 By: /s/ Cynthia A. Nastanski
Name: Cynthia A. Nastanski
Title: Senior Vice President, Corporate Law and Deputy Corporate Secretary