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KDPKeurig Dr Pepper · Insider ownership research

Keurig Dr Pepper insiders sold $1.4M in the past 12 months. How much of their stake is that?

About 4.1% overall. As a group they ended with more shares than they started with. The biggest individual seller, Mary DeNooyer, gave up 29% of starting holdings. These figures leave out Robert Gamgort, the largest holder (holdings couldn't be fully reconciled).

Updated Oct 8, 2026 from SEC filings · covers Oct 9, 2025 to Oct 8, 2026
How this comparesMore of their stake sold than at 162 of the 311 other companies we can measure (#150 of 312)See ranking
1
buyer among officers and directors (1 trade), past 12 months
0%
of sales were under disclosed trading plans, past 12 months
2 of 21
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 9, 2026 to Oct 8, 2026
Sep 14, 20262 executives had 25K shares ($794K) withheld by the company for taxes (not a market sale). That is between 1.3% and 12% of each person's total stake held that day. 64K shares came in from vesting or option exercises the same day, so their combined holdings rose by 39K net.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Anthony Shoemaker
Chief Legal Officer
23,833$31.5812%177KSep 14, 2026Sep 16, 2026
Eric Gorli
President, US Refreshment Bev.
1,306$31.581.3%100KSep 14, 2026Sep 16, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Sep 9, 2026Mary DeNooyer sold 12K shares ($388K) with no plan disclosed. That is 14% of the total stake held that day.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Mary DeNooyer
Chief Human Resources Officer
12,000$32.3014%72KSep 9, 2026Sep 10, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? Less than usual: about one-twentieth of the 5-year average. 2 insiders sold; the average is 3 a year. Year by year
Latest filing: Filed Sep 16 for a tax withholding on Sep 14. Anthony Shoemaker had 24K shares withheld by the company for taxes. Filing
44 SEC ownership filings in the period · See the evidence

What stands out

Aaron Alt bought 7.9K shares for $250K, first on Aug 25, 2026.Purchase, Aug 25, 2026
Selling rose in the last 90 days but the year remains well below the 5-year average: officers and directors sold 34K shares, against an average of 3.3K per 90 days earlier in the period. Most of it was Mary DeNooyer (24K shares in the last 90 days, 29% of holdings) and Angela Stephens (9.5K shares in the last 90 days, 15% of holdings); 0% of these sales were under disclosed plans.Mary DeNooyer: largest recent sale, Sep 8, 2026 · Angela Stephens: largest recent sale, Sep 3, 2026
Tax withholding outweighed market sales: the company withheld $5.6M of officers' and directors' shares for taxes, against $1.4M sold on the open market. The largest was Robert Gamgort ($1.8M withheld).Largest withholding, Mar 2, 2026

Percentages cover 11 of 21 officers and directors. 10 are left out

i
Left out: Robert Gamgort (holdings couldn't be fully reconciled); Juliette Hickman, Debra Sandler, Oray Boston, Lawson Whiting, William Newlands, Amie O'Toole, Rafael Oliveira, Brian Driscoll and Aaron Alt (held no vested shares at the start).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.

SoldRest of starting stakeAdded during the period
Mary DeNooyer
Chief Human Resources Officer
29% · $778KNo plan disclosed
Angela Stephens
Senior VP & Controller
30% · $606KNo plan disclosed
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosed
OctNovDec 2025: $295K no plan disclosedDecJanFebMarAprMayJunJulAugSep 2026: $1.1M no plan disclosed$1.1MSepOct

Common questions

Is the Keurig Dr Pepper CEO selling stock?

No. Timothy Cofer reported no open-market sales in the past 12 months.

Why are Keurig Dr Pepper insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Keurig Dr Pepper insiders buying?

Yes. 1 officer or director reported 1 purchase in the past 12 months (Form 4 code P, which includes private purchases).

How much of their stake did Keurig Dr Pepper insiders sell?

About 4.1% overall. As a group they ended with more shares than they started with. The biggest individual seller, Mary DeNooyer, gave up 29% of starting holdings. These figures leave out Robert Gamgort, the largest holder (holdings couldn't be fully reconciled). That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold2 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Mary DeNooyer
Chief Human Resources Officer
$778K
24K shares
29%No plan disclosed
Angela Stephens
Senior VP & Controller
$606K
20K shares
30%No plan disclosed
The full ownership picture20 of 21 insiders fully reconciled · 15 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 8, 2025SoldHeld Oct 8, 2026Still held
Robert Gamgort
!
Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,000,000 shares on Mar 3, 2026 (2025 Trust). See the filing Sales and other transactions for Robert Gamgort are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Robert Gamgort
+152Kshares vested or exercised
0gifted (net of own trusts)
−60Kwithheld by the company for taxes
435K → 293Kunvested awards, start → end

Holdings couldn't be fully reconciled. Balance changed with no matching transaction and no footnote: +1,000,000 shares on Mar 3, 2026 (2025 Trust). The balances below are as reported, not verified totals.

Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock2,284,5681,951,412
2023 GRATCommon Stock574,900574,900
2023 TrustCommon Stock574,900574,900
2024 TrustCommon Stock102,142102,142
2025 TrustCommon Stock01,000,000
Timothy Cofer
CEO & President, Director
440K0513Kno sales
Vesting, gifts, unvested awards and holding lines for Timothy Cofer
+119Kshares vested or exercised
0gifted (net of own trusts)
−47Kwithheld by the company for taxes
1.02M → 1.29Munvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock440,07053,436
childrenCommon Stock400400
2010 TrustCommon Stock0458,852
Anthony Shoemaker
Chief Legal Officer
125K0177Kno sales
Vesting, gifts, unvested awards and holding lines for Anthony Shoemaker
+86Kshares vested or exercised
0gifted (net of own trusts)
−34Kwithheld by the company for taxes
142K → 259Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock124,851177,014
Roger Johnson
Chief Supply Chain Officer
116K0135Kno sales
Vesting, gifts, unvested awards and holding lines for Roger Johnson
+33Kshares vested or exercised
0gifted (net of own trusts)
−13Kwithheld by the company for taxes
111K → 221Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock115,953135,381
Eric Gorli
President, US Refreshment Bev.
87K0100Kno sales
Vesting, gifts, unvested awards and holding lines for Eric Gorli
+23Kshares vested or exercised
0gifted (net of own trusts)
−8.9Kwithheld by the company for taxes
234K → 366Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock86,654100,304
Mary DeNooyer
Chief Human Resources Officer
83K−24K72K87%
Vesting, gifts, unvested awards and holding lines for Mary DeNooyer
+27Kshares vested or exercised
0gifted (net of own trusts)
−14Kwithheld by the company for taxes
83K → 170Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock82,51172,171
Angela Stephens
Senior VP & Controller
64K−20K56K87%
Vesting, gifts, unvested awards and holding lines for Angela Stephens
+18Kshares vested or exercised
0gifted (net of own trusts)
−6.7Kwithheld by the company for taxes
56K → 64Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock64,20055,786
Robert Singer
Director
55K060Kno sales
Vesting, gifts, unvested awards and holding lines for Robert Singer
+5.2Kshares vested or exercised
0gifted (net of own trusts)
16K → 17Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock42,60347,829
Robert Singer 2005 Insurance TrustCommon Stock12,49912,499
Pamela Patsley
Director
40K045Kno sales
Vesting, gifts, unvested awards and holding lines for Pamela Patsley
+5.2Kshares vested or exercised
0gifted (net of own trusts)
16K → 22Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock39,76644,992
Olivier Lemire
President, U.S. Coffee
36K043Kno sales
Vesting, gifts, unvested awards and holding lines for Olivier Lemire
+13Kshares vested or exercised
0gifted (net of own trusts)
−7Kwithheld by the company for taxes
69K → 150Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock36,25242,626
Ven Van de
Director
15K015Kno sales
Vesting, gifts, unvested awards and holding lines for Ven Van de
0shares vested or exercised
0gifted (net of own trusts)
3.2K → 9.3Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock15,00015,000
Anthony Disilvestro
i
Started reporting during the period; starting holdings are from the Form 3.
Chief Financial Officer
19019no sales
Vesting, gifts, unvested awards and holding lines for Anthony Disilvestro
0shares vested or exercised
0gifted (net of own trusts)
0 → 275Kunvested awards, start → end
  • Started reporting during the period; starting holdings are from the Form 3.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock1919
Juliette Hickman
Director
005.2Kno sales
Vesting, gifts, unvested awards and holding lines for Juliette Hickman
+5.2Kshares vested or exercised
0gifted (net of own trusts)
16K → 17Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock05,226
Debra Sandler
Director
002.3Kno sales
Vesting, gifts, unvested awards and holding lines for Debra Sandler
+2.3Kshares vested or exercised
0gifted (net of own trusts)
11K → 17Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock02,285
Aaron Alt
Director
007.9Kno sales
Vesting, gifts, unvested awards and holding lines for Aaron Alt
0shares vested or exercised
0gifted (net of own trusts)
0 → 2.8Kunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectCommon Stock07,862

20 of 21 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (20 exactly, 0 with a minor or footnoted difference). For 1 we show sales but not holdings; the ! icon on that row explains why. Percentages cover 11 of 21 officers and directors. Left out: Robert Gamgort (holdings couldn't be fully reconciled); Juliette Hickman, Debra Sandler, Oray Boston, Lawson Whiting, William Newlands, Amie O'Toole, Rafael Oliveira, Brian Driscoll and Aaron Alt (held no vested shares at the start). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$1.4M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $1.4M across 43,500 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $1.4M

Sales with no 10b5-1 plan and no tax reference in the filing. $778K of it is Mary DeNooyer. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Mary DeNooyer, Sep 8, 2026

Taxes

189,837 shares ($5.6M) were withheld by the company for taxes, which isn't a market sale.

Purchases · 1 buyer (1 trade)

1 officer or director bought shares in this period, in 1 trade(Form 4 code P). Across all their filings on record there are 82 purchase trades.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Mary DeNooyer
Chief Human Resources Officer
24K$778K0%56%Sep 8, 2026 to Sep 9, 2026
Angela Stephens
Senior VP & Controller
20K$606K0%44%Dec 12, 2025 to Sep 3, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$295K$0$0$295K
Jan 2026$0$0$0$0
Feb 2026$0$0$0$0
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$1.1M$0$0$1.1M
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about one-twentieth of the 5-year average. 2 insiders sold; the average is 3 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 8, 2026
Latest 12 months
44K2$1.4M
Oct 8, 2025
1 year earlier
1.61M3$54.1M
Oct 8, 2024
2 years earlier
112K5$3.7M
Oct 9, 2023
3 years earlier
1.06M4$39.9M
Oct 9, 2022
4 years earlier
817K4$30.5M
Oct 9, 2021
5 years earlier
373K1$13.4M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty1 insider whose holdings couldn't be fully reconciled

Robert Gamgort: holdings couldn't be fully reconciled (difference of 574,900 shares). Balance changed with no matching transaction and no footnote: +1,000,000 shares on Mar 3, 2026 (2025 Trust). Filing, Mar 3, 2026

Inferred rename: "GRAT" is treated as the same holder as "2023 GRAT", because the old name was never reported again and the new one opened with the same balance (574,900 shares). Old name, new name

Inferred rename: "2023 GRAT" is treated as the same holder as "2023 Trust", because the old name was never reported again and the new one opened with the same balance (574,900 shares). Old name, new name

Inferred rename: "2024 GRAT" is treated as the same holder as "2024 Trust", because the old name was never reported again and the new one opened with the same balance (171,821 shares). Old name, new name

Inferred rename: "equity interests of Maple Holdings B.V" is treated as the same holder as "Disclaims beneficial ownership of such Shares, except to the extent of its pecuniary interests therein", because the old name was never reported again and the new one opened with the same balance (726,084,122 shares). Old name, new name

Inferred typo: the share class "Common Stock" is treated as the same class as "Commom Stock" on 1 holding line, because the two spellings are nearly identical and each balance carried over exactly. Example (John Adams, 37,275 shares): old title, new title

Inferred typo: the share class "Common Stoock" is treated as the same class as "Common Stock" on 1 holding line, because the two spellings are nearly identical and each balance carried over exactly. Example (Philip Hancock, 2,351 shares): old title, new title

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,185 filings from SEC EDGAR, and how we read them

All 1,185 Forms 3, 4 and 5 filed for Keurig Dr Pepper (SEC CIK 1418135) from Apr 22, 2008 to Sep 18, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (60)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Paul MichaelsMar 14, 202519,927 shares, last reported balance as of Mar 12, 2025
Patrick MinogueMar 14, 202576,620 shares, last reported balance as of Mar 12, 2025
Priyadarshi SudhanshuMar 7, 2025234,398 shares, last reported balance as of Nov 22, 2024
BevCo JABFeb 28, 20254,901,567,981 shares, last reported balance as of Feb 26, 2025
Monique OxenderSep 18, 202473,522 shares, last reported balance as of Sep 16, 2024
Joachim CreusSep 16, 2024142,236 shares, last reported balance as of Jun 10, 2024
Matthew ArchambaultMay 24, 202412,565 shares, last reported balance as of May 23, 2024
Karin Rotem-WildemanMar 11, 202493,694 shares, last reported balance as of Mar 7, 2024
Olivier GoudetMar 7, 20245,607,933 shares, last reported balance as of Mar 5, 2024
Peter HarfMar 7, 20244,137,205 shares, last reported balance as of Mar 5, 2024
Larry YoungMar 6, 2024625,260 shares, last reported balance as of Mar 4, 2024
Rochet LubomiraMar 6, 2024No balance on record
Justin WhitmoreMar 5, 2024143,296 shares, last reported balance as of Mar 4, 2024
Maria Sceppaguercio-GeverMay 9, 2023141,555 shares, last reported balance as of May 8, 2023
Mauricio LeyvaMar 15, 2023320,511 shares, last reported balance as of Mar 13, 2023
Mondelez International, Inc.Mar 3, 202345,550,020 shares, last reported balance as of Mar 1, 2023
Michael CallMar 3, 2023No balance on record
Ozan DokmeciogluSep 19, 20221,985,607 shares, last reported balance as of Sep 15, 2022
Herbert HopkinsSep 19, 2022202,980 shares, last reported balance as of Sep 15, 2022
Maurice MilikinSep 13, 2022142,776 shares, last reported balance as of Sep 12, 2022
Georgios LagoudakisAug 1, 202243,500 shares, last reported balance as of Jul 29, 2022
Justine TanMar 4, 2022No balance on record
Nelson UrdanetaMar 4, 2022No balance on record
Fernando CortesMay 28, 2021130,451 shares, last reported balance as of Mar 10, 2020
James Baldwin Jr.Mar 5, 2021167,097 shares, last reported balance as of Jul 9, 2018
Genevieve HovdeMar 5, 2021No balance on record
Gerhard PleuhsMar 5, 2021No balance on record
Put Van deMar 5, 2021No balance on record
James TrebilcockMar 13, 2020130,435 shares, last reported balance as of Sep 4, 2018
Anna-Lena KamenetzkyMar 13, 2020No balance on record
Brian LoucksMar 13, 2020136,267 shares, last reported balance as of Aug 14, 2019
Fabien SimonMar 13, 2020No balance on record
Margaret NewmanMar 5, 2019162,337 shares, last reported balance as of Jul 9, 2018
Lambertus BechtJan 15, 20194,122 shares, last reported balance as of Jan 12, 2019
Wayne SandersJul 10, 201845,411 shares, last reported balance as of Jul 9, 2018
Anne SzostakJul 10, 201823,335 shares, last reported balance as of Jul 9, 2018
Derry HobsonJul 10, 201871,348 shares, last reported balance as of Jul 9, 2018
Ronald RogersJul 10, 201827,293 shares, last reported balance as of Aug 5, 2018
Rodger CollinsJul 10, 2018282,955 shares, last reported balance as of Jul 9, 2018
James Johnston Jr.Jul 10, 2018180,518 shares, last reported balance as of Jul 9, 2018
David ThomasJul 10, 201896,913 shares, last reported balance as of Jul 9, 2018
Martin EllenJul 10, 2018212,720 shares, last reported balance as of Jul 9, 2018
David AlexanderJul 10, 201821,211 shares, last reported balance as of Jul 9, 2018
Philip HancockJul 10, 2018125,899 shares, last reported balance as of Jul 9, 2018
Dunia ShiveJul 10, 20187,235 shares, last reported balance as of Jul 9, 2018
Antonio CarrilloJul 10, 20185,552 shares, last reported balance as of Jul 9, 2018
Jose GutierrezJul 10, 20183,561 shares, last reported balance as of Jul 9, 2018
Jaxie AltJul 10, 201831,971 shares, last reported balance as of Jul 9, 2018
Joyce RocheMay 19, 201713,147 shares, last reported balance as of May 18, 2017
John AdamsMar 4, 201547,552 shares, last reported balance as of Mar 2, 2015
Jack StahlJul 28, 201427,210 shares, last reported balance as of Jul 23, 2014
Tina BarrySep 6, 201319,215 shares, last reported balance as of Jul 5, 2013
Terence MartinMar 6, 201320,066 shares, last reported balance as of Mar 4, 2013
Lawrence SolomonJan 15, 201311,224 shares, last reported balance as of Apr 6, 2012
Michael WeinsteinJan 2, 201313,726 shares, last reported balance as of Dec 31, 2012
John StewartMay 24, 201019,363 shares, last reported balance as of Mar 12, 2010
Pedro GachaSep 4, 200938,705 shares, last reported balance as of Mar 24, 2009
Jolene VarneyMar 3, 200912,816 shares, last reported balance as of Jan 9, 2009
Randall GierOct 2, 200817,150 shares, last reported balance as of May 7, 2008
Franciscus EngelenNo balance on record