Stock Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

The components of stock-based compensation expense are presented below:


	Second Quarter				First Six Months
(in millions)	2026		2025		2026		2025
Total stock-based compensation expense(1)	$	177	$	23	$	207	$	45
Income tax benefit	(6)		(3)		(11)		(8)
Stock-based compensation expense, net of tax	$	171	$	20	$	196	$	37

(1)For the second quarter and first six months of 2026, stock-based compensation expense includes $134 million related to the portion of the fair value of JDE Peet's stock-based compensation awards which were accelerated and which does not relate to pre-combination service.

RSU Activity


	RSUs	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in millions)
Outstanding as of December 31, 2025	13,120,837	$	29.62	1.8	$	368
Granted(1)	6,016,672	27.68
Vested and released	(3,162,034)	31.10			92
Forfeited	(1,028,810)	29.23
Outstanding as of June 30, 2026	14,946,665	$	28.55	1.9	$	489

(1)Includes certain legacy stock-based awards of JDE Peet’s which were converted into KDP awards as a result of the JDE Peet’s Acquisition. Refer to Note 2 for additional information.

PSU Activity


	PSUs	Weighted Average Grant Date Fair Value		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (in millions)
Balance as of December 31, 2025	446,818	$	30.60	2.2	$	13
Granted	520,456	28.39

Forfeited or expired	(107,178)	29.74
Balance as of June 30, 2026	860,096	$	29.37	2.2	$	28