# EDGAR Filing Document

**Accession Number:** 0001854139
**File Stem:** 0001209191-23-013003
**Filing Date:** 2023-2
**Character Count:** 8849
**Document Hash:** 0275b717b14adf625cbb50692be6d46b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001209191-23-013003.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001209191-23-013003

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20230222

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Spence Padraic L.
- **CENTRAL INDEX KEY:** 0001462709

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-40630
- **FILM NUMBER:** 23669668

**MAIL ADDRESS:**
- **STREET 1:** C/O PHYSICIANS FORMULA HOLDINGS, INC.
- **STREET 2:** 1055 WEST 8TH STREET
- **CITY:** AZUSA
- **STATE:** CA
- **ZIP:** 91702
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Zevia PBC
- **CENTRAL INDEX KEY:** 0001854139
- **STANDARD INDUSTRIAL CLASSIFICATION:** BOTTLED & CANNED SOFT DRINKS CARBONATED WATERS [2086]
- **IRS NUMBER:** 862862492
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 15821 VENTURA BLVD.
- **STREET 2:** SUITE 145
- **CITY:** ENCINO
- **STATE:** CA
- **ZIP:** 91436
- **BUSINESS PHONE:** (310) 202-7000

**MAIL ADDRESS:**
- **STREET 1:** 15821 VENTURA BLVD.
- **STREET 2:** SUITE 145
- **CITY:** ENCINO
- **STATE:** CA
- **ZIP:** 91436

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Spence Padraic L.<br><sub>(Last) (First) (Middle)</sub><br>C/O ZEVIA PBC<br>15821 VENTURA BLVD., SUITE 135<br><sub>(Street)</sub><br>ENCINO, CA 91436<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2023-02-22 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [ ] Other (specify below)<br>_ _ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>Zevia PBC [ ZVIA ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[X] Form filed by One Reporting Person<br>[ ] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| Class A Common Stock | 2023-02-22 |  | S<sup>(1)</sup> |  | 21767 | D | 4.3751<sup>(2)</sup> | 2217199 | D |  |
| Class A Common Stock | 2023-02-23 |  | S<sup>(3)</sup> |  | 49139 | D | 4.2839<sup>(4)</sup> | 2168060 | D |  |
| Class A Common Stock | 2023-02-24 |  | S<sup>(5)</sup> |  | 34224 | D | 3.9356<sup>(6)</sup> | 2133836<sup>(7)</sup> | D |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

---

### Footnotes:

(1) The transaction reported reflects the sale of shares of Class A Common Stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of 61,112 restricted stock units ("RSUs"). This sale was made to satisfy tax withholding obligations through a "sell to cover" transaction and does not represent a discretionary trade made by the Reporting Person.

(2) The price reported in Column 4 is a weighted average sale price of the Issuer's Class A Common Stock. These shares were sold in multiple transactions at prices ranging from $4.28 to $4.47, inclusive. The Reporting Person undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

(3) The transaction reported reflects the sale of shares of Class A Common Stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of 133,333 restricted stock units ("RSUs"). This sale was made to satisfy tax withholding obligations through a "sell to cover" transaction and does not represent a discretionary trade made by the Reporting Person.

(4) The price reported in Column 4 is a weighted average sale price of the Issuer's Class A Common Stock. These shares were sold in multiple transactions at prices ranging from $4.14 to $4.54, inclusive. The Reporting Person undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

(5) The transaction reported reflects the sale of shares of Class A Common Stock in satisfaction of the Reporting Person's tax liability in connection with the settlement of 66,667 restricted stock units ("RSUs"). This sale was made to satisfy tax withholding obligations through a "sell to cover" transaction and does not represent a discretionary trade made by the Reporting Person.

(6) The price reported in Column 4 is a weighted average sale price of the Issuer's Class A Common Stock. These shares were sold in multiple transactions at prices ranging from $3.78 to $4.17, inclusive. The Reporting Person undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

(7) Includes 1,553,961 RSUs. Each RSU represents the right to receive one share of Class A Common Stock of the Issuer. 2,200,000 RSUs began vesting in 1/36 equal monthly installments on each monthly anniversary of January 17, 2022 and are settled within 30 days following each vesting date. 148,417 RSUs begin vesting in 1/4 increments on each anniversary of March 17, 2022 and are settled within 30 days following each vesting date.

**Signature:** /s/ Lorna R. Simms, Attorney-in-Fact for Padraic L. Spence  
**Date:** 2023-02-24

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**