Stock Based Compensation (Tables)

9 Months Ended

Sep. 30, 2026

Share-Based Payment Arrangement [Abstract]

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


	Third Quarter				First Nine Months
(in millions)	2026		2025		2026		2025
Total stock-based compensation expense(1)	$	33	$	25	$	240	$	70
Income tax benefit	(7)		(5)		(18)		(13)
Stock-based compensation expense, net of tax	$	26	$	20	$	222	$	57

(1)For the first nine 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)	6,480,088	27.81
Vested and released	(3,404,940)	30.98			100
Forfeited	(1,711,028)	28.79
Outstanding as of September 30, 2026	14,484,957	$	28.59	1.7	$	439

(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	539,219	28.42

Vested and released	(2,154)	30.27			—
Forfeited or expired	(130,536)	29.64
Balance as of September 30, 2026	853,347	$	29.37	2.0	$	26