# EDGAR Filing Document

**Accession Number:** 0001418135
**File Stem:** 0001193125-26-283044
**Filing Date:** 2026-6
**Character Count:** 86600
**Document Hash:** 8b81b2f88fa9b568d693bf7493dbf9cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-283044.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001193125-26-283044

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 17

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**EFFECTIVENESS DATE**: 20260625

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Keurig Dr Pepper Inc.
- **CENTRAL INDEX KEY:** 0001418135
- **STANDARD INDUSTRIAL CLASSIFICATION:** BEVERAGES [2080]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 753258232
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-297040
- **FILM NUMBER:** 261123006

**BUSINESS ADDRESS:**
- **STREET 1:** 6425 HALL OF FAME LANE
- **CITY:** FRISCO
- **STATE:** TX
- **ZIP:** 75034
- **BUSINESS PHONE:** (800) 527-7096

**MAIL ADDRESS:**
- **STREET 1:** 6425 HALL OF FAME LANE
- **CITY:** FRISCO
- **STATE:** TX
- **ZIP:** 75034

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Dr Pepper Snapple Group, Inc.
- **DATE OF NAME CHANGE:** 20080108

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CSAB Inc.
- **DATE OF NAME CHANGE:** 20071109

**As filed with the Securities and Exchange Commission on June 25, 2026** 

**Registration No. 333-** 

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, DC 20549** 

**FORM S-8** 

**REGISTRATION STATEMENT** 

***UNDER***

***THE SECURITIES ACT OF 1933***

## Keurig Dr Pepper Inc.
**(Exact name of registrant as specified in its charter)** 

---

| | |
|:---|:---|
| **Delaware** | **98-0517725** |
| **(State or other jurisdiction of**<br> **incorporation or organization)** | **(I.R.S. Employer**<br> **Identification No.)** |

---

**6425 Hall of Fame Lane** 

**Frisco, Texas 75034** 

**(Address of Principal Executive Offices, Zip Code)** 

**Keurig Dr Pepper Inc. Omnibus Stock Incentive Plan of 2026** 

**(Full title of the plan)** 

**Anthony Shoemaker** 

**Chief Legal Officer and General Counsel** 

**6425 Hall of Fame Lane** 

**Frisco, Texas 75034** 

**800-527-7096** 

**(Name and address and telephone number, including area code, of agent for service)** 

***Copy to:***

**Krista P. Hanvey** 

**Gibson, Dunn & Crutcher LLP** 

**2001 Ross Avenue, Suite 2100** 

**Dallas, Texas 75201** 

**214-698-3100** 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☒ | Accelerated filer | ☐ |
| Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
|  |  | 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 7(a)(2)(B) of the Securities Act. ☐

------

**EXPLANATORY NOTE** 

This Registration Statement on Form S-8 (this "Registration Statement") is filed by Keurig Dr Pepper Inc., a Delaware corporation (the "Company" or the "Registrant"), relating to 52,800,000 shares of the Registrant's common stock, par value $0.01 per share (the "Common Stock"), that may be issued to eligible employees, consultants and nonemployee directors in accordance with the terms of the Registrant's Omnibus Stock Incentive Plan of 2026 (the "Incentive Plan"), including 8,800,000 shares of Common Stock that may again become available for issuance under the Incentive Plan as a result of outstanding awards that are cancelled, terminated, forfeited, fail to vest, or for any other reason are not paid or delivered in shares pursuant to the terms of the Incentive Plan.

**PART I** 

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

The documents containing the information specified in Part I of this Registration Statement will be delivered to eligible participants as specified by Rule 428(b)(1) under the Securities Act of 1933, as amended (the "Securities Act"). In accordance with the instructions to Part I of Form S-8, such documents are not required to be, and are not, filed with the Securities and Exchange Commission (the "SEC") either as part of this Registration Statement or as prospectuses or prospectus supplements pursuant to Rule 424 of the Securities Act. Such documents and the documents incorporated by reference in this Registration Statement pursuant to Item 3 of Part II of Form S-8, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II** 

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

**Item 3. Incorporation of Documents by Reference.** 

The following documents, which have previously been filed by the Registrant with the SEC pursuant to the Securities Act and pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), are incorporated by reference herein and shall be deemed to be a part hereof:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Registrant's Annual Report on [Form 10-K](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000141813526000016/kdp-20251231.htm) for the fiscal year ended December 31, 2025 filed with the SEC on February 24, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Registrant's Quarterly Report on [Form 10-Q](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000141813526000026/kdp-20260331.htm) for the fiscal quarter ended March 31, 2026 filed with the SEC on April 23, 2026;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Registrant's Current Reports on Form 8-K filed with the SEC
on [February 4, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000141813526000003/kdp-20260203.htm) , [February 12, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000141813526000007/kdp-20260212.htm) , [February 23, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000119312526064353/d897620d8k.htm) , [March 10, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000119312526099459/d92491d8k.htm) , [March 12, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000095014226000697/eh260751190_8k.htm) , [March 26, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000119312526126214/d130847d8k.htm) , [April 1, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000119312526135642/d137180d8k.htm) (as amended on [June 11, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000141813526000036/kdp-20260330.htm)), [May 20, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000141813526000030/kdp-20260520.htm) , [May 22, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000095014226001475/eh260783581_8k.htm) , [June 18, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001418135/000141813526000041/kdp-20260616.htm) , [June 23, 2026](http://www.sec.gov/Archives/edgar/data/1418135/000095014226001848/eh260797101_8k.htm) , and [June 25, 2026](http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1418135/000141813526000045/kdp-20260622.htm) in each case other than information furnished under Item 2.02 or 7.01
of Form 8-K; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the description of the Registrant's Common Stock contained in [Exhibit 4.30](http://www.sec.gov/Archives/edgar/data/1418135/000141813526000016/kdp-ex430xdescriptionofsec.htm) to the Registrant's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on February 24, 2026.

In addition, all documents subsequently filed by the Registrant with the SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a post-effective amendment to this Registration Statement which indicate that all securities offered hereby have been sold or which deregisters all securities remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of filing of such documents. Notwithstanding the foregoing, unless specifically stated to the contrary, none of the information that the Registrant discloses under Items 2.02 or 7.01 of any Current Report on Form 8-K that it may from time to time furnish to the SEC will be incorporated by reference into, or otherwise included in, this Registration Statement.

Any statement, including financial statements, contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein or therein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

**Item 4. Description of Securities.** 

Not applicable.

------

**Item 5. Interests of Named Experts and Counsel.** 

Not applicable.

**Item 6. Indemnification of Directors and Officers.** 

Set forth below is a description of certain provisions of the Amended and Restated Certificate of Incorporation, as amended to date (the "Certificate of Incorporation"), of the Registrant and the Delaware General Corporation Law (the "DGCL"). This description is intended as a summary only and is qualified in its entirety by reference to the Certificate of Incorporation and the DGCL.

<u>Delaware General Corporation Law</u>

Section 145 of the DGCL provides that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of the corporation) by reason of the fact that the person is or was a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership or other enterprise, against all expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by them in connection with such action, suit or proceeding if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, if he or she had no reasonable cause to believe their conduct was unlawful. Section 145 further provides that a corporation similarly may indemnify any such person serving in any such capacity who was or is a party or is threatened to be made a party to any threatened, pending or completed action or suit by or in the right of the corporation to procure a judgment in its favor, against expenses (including attorneys' fees) actually and reasonably incurred in connection with the defense or settlement of the action or suit if he or she acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the corporation, except that no indemnification may be made against expenses in respect of any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation, unless and only to the extent that the court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which such court shall deem proper.

<u>Certificate of Incorporation</u>

*Limitation of Liability of Directors* 

Pursuant to authority conferred by Section 102 of the DGCL, Article Seventh of the Company's Certificate of Incorporation eliminates the personal liability of directors to the Company or its stockholders for monetary damages for breach of fiduciary duty, including, without limitation, directors serving on committees of the Company's board of directors, except to the extent such exemption from liability or limitation thereof is not permitted under the DGCL.

*Indemnification and Insurance* 

In accordance with Section 145 of the DGCL, Article Eighth of the Certificate of Incorporation grants the Company's directors and officers a right to indemnification for all expenses, liabilities and losses relating to civil, criminal, administrative or investigative actions, suits or proceedings to which they are a party (other than an action or suit by the Company or in the Company's right, in which case the Company's directors and officers have a right to indemnification for all expenses, except in respect of any claim, issue or matter as to which such officer or director is adjudged to be liable to the Company) (1) by reason of the fact that they are or were the Company's directors or officers, (2) by reason of the fact that, while they are or were the Company's directors or officers, they are or were serving at the Company's request as directors or officers of another corporation, partnership, joint venture, trust or entity or (3) by reason of any action alleged to have been taken or omitted in such person's capacity as the Company's director or officer or in any other capacity while serving at the Company's request as directors or officers of another corporation, partnership, joint venture, trust or entity.

Article Eighth of the Certificate of Incorporation further provides for the mandatory advancement of expenses incurred by officers and directors in defending such proceedings in advance of their final disposition upon delivery to the Company by the indemnitee of an undertaking to repay all amounts so advanced if it is ultimately determined that such indemnitee is not entitled to be indemnified under Article Eighth. The Company may not indemnify or make advance payments to any person in connection with proceedings initiated against the Company by such person without the authorization of the Company's board of directors.

In addition, Article Eighth of the Certificate of Incorporation provides that directors and officers therein described shall be indemnified to the fullest extent permitted by the DGCL, and if the DGCL is subsequently amended to expand further the indemnification or advancements permitted, then the Company shall indemnify such directors and officers to the fullest extent permitted by the DGCL, as so amended.

Article Eighth of the Certificate of Incorporation allows the indemnification to continue after an indemnitee has ceased to be the Company's director or officer and to inure to the benefit of the indemnitee's heirs, executors and administrators.

Article Eighth of the Certificate of Incorporation further provides that the right to indemnification is not exclusive of any other right that any indemnitee may be entitled under any law, any agreement or vote of stockholders or disinterested directors or otherwise.

------

The Certificate of Incorporation authorizes the Company to purchase insurance for the Company's directors and officers and persons who serve at the Company's request as directors, officers, employees or agents of another corporation, partnership, joint venture, trust or entity against any liability incurred in such capacity, whether or not the Company would have the power to indemnify such persons against such expense or liability under the DGCL. The Company intends to maintain insurance coverage for the Company's officers and directors as well as insurance coverage to reimburse the Company for potential costs of the Company's corporate indemnification of directors and officers.

In addition to the above, the Incentive Plan provides that no member of the Compensation Committee of the Company's board of directors, any successor committee thereto, any other committee that may be designated by the Company's board of directors to administer the Incentive Plan, or any officer of the Company to whom such committee has delegated authority in accordance with the provisions of the Incentive Plan will be liable for anything done or omitted to be done by such member or delegate in connection with the performance of any duties under the Incentive Plan, except for their own willful misconduct or as expressly provided by statute.

**Item 7. Exemption from Registration Claimed.** 

Not applicable.

**Item 8. Exhibits.** 

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Description** |
| &nbsp;&nbsp;&nbsp;&nbsp;4.1 | [Amended and Restated Certificate of Incorporation of Dr Pepper Snapple Group, Inc. (filed as Exhibit 3.1 to the Registrant's Current Report on Form 8-K (filed on May 12, 2008)).](http://www.sec.gov/Archives/edgar/data/1418135/000095012308005530/y57446exv3w1.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.2 | [Certificate of Amendment to Amended and Restated Certificate of Incorporation of Dr Pepper Snapple Group, Inc. effective as of May 17, 2012 (filed as Exhibit 3.2 to the Registrant's Quarterly Report on Form 10-Q (filed July 26, 2012)).](http://www.sec.gov/Archives/edgar/data/1418135/000141813512000028/dps-ex32_2012630.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.3 | [Certificate of Second Amendment to Amended and Restated Certificate of Incorporation of Dr Pepper Snapple Group, Inc. effective as of May 19, 2016 (filed as Exhibit 3.1 to the Registrant's Current Report on Form 8-K (filed May 20, 2016)).](http://www.sec.gov/Archives/edgar/data/1418135/000129993316002518/exhibit1.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.4 | [Certificate of Third Amendment to Amended and Restated Certificate of Incorporation of Dr Pepper Snapple Group, Inc. effective as of July 9, 2018 (filed as Exhibit 3.1 to the Registrant's Current Report on Form 8-K (filed July 9, 2018)).](http://www.sec.gov/Archives/edgar/data/1418135/000110465918044357/a18-16509_3ex3d1.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;4.5 | [Amended and Restated By-laws of the Registrant (filed as Exhibit 3.5 to the Registrant's Annual Report on Form 10-K (filed on February 25, 2025)).](http://www.sec.gov/Archives/edgar/data/1418135/000141813525000013/kdp-ex35_20241231keurigdrp.htm) |
| &nbsp;&nbsp;&nbsp;&nbsp;5.1\* | [Opinion of Gibson, Dunn & Crutcher LLP.](d130997dex51.htm) |
| 23.1\* | [Consent of Deloitte & Touche LLP.](d130997dex231.htm) |
| 23.2\* | [Consent of Deloitte Accountants B.V.](d130997dex232.htm) |
| 23.3\* | [Consent of Gibson, Dunn & Crutcher LLP (included in Exhibit 5.1).](d130997dex51.htm) |
| 24.1\* | [Power of Attorney.](d130997dex241.htm) |
| 99.1\* | [Keurig Dr Pepper Inc. Omnibus Stock Incentive Plan of 2026.](d130997dex991.htm) |
| 107.1\* | [Filing Fee Table.](d130997dexfilingfees.htm) |

---

\* Filed herewith.

**Item 9. Undertakings.** 

(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this
Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement
(or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the Registration Statement. Notwithstanding the foregoing, any increase or decrease in
volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus
filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Filing Fee Tables" or
"Calculation of Registration Fee" table, as applicable, in the effective registration statement; and

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) To include any material information with respect to the plan of distribution not previously disclosed in the
Registration Statement or any material change to such information in the Registration Statement;

*provided, however,* that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment
shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which
remain unsold at the termination of the offering.

(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the
Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to
Section 15(d) of the Exchange Act) that is incorporated by reference in the Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial *bona fide* offering thereof.

(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors,
officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act
and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Frisco, State of Texas, on June 25, 2026.

---

| | |
|:---|:---|
| **Keurig Dr Pepper Inc.** | **Keurig Dr Pepper Inc.** |
| /s/ Anthony DiSilvestro | /s/ Anthony DiSilvestro |
| By: | Anthony DiSilvestro |
| Title: | Chief Financial Officer |

---

Pursuant to the requirements of the Securities Act, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated.

---

| | |
|:---|:---|
| Principal Executive Officer: | Timothy Cofer\*<br> Chief Executive Officer and Director |
| Principal Financial Officer: | */*s*/* Anthony DiSilvestro |
|  | Anthony DiSilvestro<br> Chief Financial Officer and attorney-in-fact for<br>Mr. Cofer, Ms. Stephens and the Directors |
| Principal Accounting Officer: | Angela Stephens\*<br> Controller |

---

June 25, 2026

**DIRECTORS:** 

Pamela Patsley\*

Oray Boston\*

Brian Driscoll\*

Juliette Hickman\*

William Newlands\*

Debra Sandler\*

Michael Van de Ven\*

Lawson Whiting\*

\* By power of attorney

## Exhibit 5.1

**Exhibit 5.1**![LOGO](g130997g0625131818058.jpg)

June 25, 2026

Keurig Dr Pepper Inc. 6425 Hall of Fame Lane Frisco, Texas 75034

Re: Keurig Dr Pepper Inc. Registration Statement on Form S-8

Ladies and Gentlemen:

We have examined the Registration Statement on Form S-8 (the "Registration Statement") of Keurig Dr Pepper Inc., a Delaware corporation (the "Company"), to be filed with the Securities and Exchange Commission (the "Commission") pursuant to the Securities Act of 1933, as amended (the "Securities Act"), in connection with the offering by the Company of up to 52,800,000 shares (the "Shares") of the Company's common stock ("Common Stock"), par value $0.01 per share, under the Company's Omnibus Stock Incentive Plan of 2026 (the "Incentive Plan"), including up to 8,800,000 shares of Common Stock that may become available for issuance under the Incentive Plan as a result of outstanding awards that are cancelled, terminated, forfeited, fail to vest, or for any other reason are not paid or delivered in shares pursuant to the terms of the Incentive Plan.

We have examined the originals, or photostatic or certified copies, of such records of the Company and certificates of officers of the Company and of public officials and such other documents as we have deemed relevant and necessary as the basis for the opinions set forth below. In our examination, we have assumed the genuineness of all signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals and the conformity to original documents of all documents submitted to us as copies. We have also assumed that there are no agreements or understandings between or among the Company and any participants in the Incentive Plan that would expand, modify or otherwise affect the terms of the Incentive Plan or the respective rights or obligations of the participants thereunder. Finally, we have assumed the accuracy of all other information provided to us by the Company during the course of our investigations, on which we have relied in issuing the opinion expressed below.

Based upon the foregoing examination and in reliance thereon, and subject to the qualifications, assumptions and limitations stated herein and in reliance on the statements of fact contained in the documents that we have examined, we are of the opinion that the Shares, when issued and sold in accordance with the terms set forth in the Incentive Plan, as applicable, and against payment therefor in accordance with the terms of the Incentive Plan, and when the Registration Statement has become effective under the Securities Act, will be validly issued, fully paid and non-assessable.

**Gibson, Dunn & Crutcher LLP**

2001 Ross Avenue Suite 2100 \| Dallas, TX 75201-2923 \| T: 214.571.3100 \| F: 214.571.2900 \| gibsondunn.com

------

![LOGO](g130997g0625131818058.jpg)

We render no opinion herein as to matters involving the laws of any jurisdiction other than the Delaware General Corporation Law. We are not admitted to practice in the State of Delaware; however, we are generally familiar with the Delaware General Corporation Law as currently in effect and have made such inquiries as we consider necessary to render this opinion. This opinion is limited to the effect of the current state of the Delaware General Corporation Law and the facts as they currently exist. We assume no obligation to revise or supplement this opinion in the event of future changes in such laws or the interpretations thereof or such facts.

We consent to the filing of this opinion as an exhibit to the Registration Statement, and we further consent to the use of our name in the Registration Statement and the prospectus that forms a part thereof. In giving these consents, we do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the Rules and Regulations of the Commission.

Very truly yours,

/s/ Gibson, Dunn & Crutcher LLP

Gibson, Dunn & Crutcher LLP

## Exhibit 23.1

**Exhibit 23.1** 

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our reports dated February 24, 2026, relating to the consolidated financial statements of Keurig Dr Pepper Inc. and the effectiveness of Keurig Dr Pepper Inc.'s internal control over financial reporting, appearing in the Annual Report on Form 10-K of Keurig Dr Pepper Inc. for the year ended December 31, 2025.

/s/ Deloitte & Touche LLP

Dallas, Texas

June 25, 2026

## Exhibit 23.2

**Exhibit 23.2** 

**CONSENT OF INDEPENDENT AUDITORS** 

We consent to the incorporation by reference in this Registration Statement on Form S-8 of Keurig Dr Pepper Inc. of our report dated March 3, 2026 relating to the financial statements of JDE Peet's N.V. appearing in the Current Report on Form 8-K/A of Keurig Dr Pepper Inc. filed on June 11, 2026.

/s/ Deloitte Accountants B.V.

June 25, 2026

Amsterdam, The Netherlands

## Exhibit 24.1

**Exhibit 24.1** 

**POWER OF ATTORNEY** 

KNOW ALL PERSONS BY THESE PRESENTS, that Keurig Dr Pepper Inc., hereinafter referred to as the "Corporation," proposes to file with the Securities and Exchange Commission, under the provisions of the Securities Act of 1933, as amended, a Registration Statement or Statements on Form S-8 for shares of the Corporation's Common Stock that may become available for issuance under the Keurig Dr Pepper Inc. Omnibus Stock Incentive Plan of 2026, and in connection therewith, each person whose signature appears below constitutes and appoints Timothy Cofer, Anthony DiSilvestro and Anthony Shoemaker and each of them, as such person's true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution for such person and in such person's name, place and stead, in any and all capacities, to sign and file such Registration Statement or Statements, and any and all amendments thereto (including post-effective amendments), together with all exhibits thereto, and other documents in connection therewith, granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorney-in-fact, agent or their substitutes may lawfully do or cause to be done by virtue hereof. This Power of Attorney may be signed in any number of counterparts, each of which shall constitute an original and all of which, taken together, shall constitute one Power of Attorney.

IN WITNESS WHEREOF, each of the undersigned has hereunto set his or her hand on the date set forth opposite his or her name.

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| | | |
|:---|:---|:---|
| **SIGNATURE** | **TITLE** | **DATE** |
| /s/ Timothy Cofer<br> Timothy Cofer | Chief Executive Officer and Director<br> (Principal Executive Officer) | June 11, 2026 |
| /s/ Anthony DiSilvestro<br> Anthony DiSilvestro | Chief Financial Officer<br> (Principal Financial Officer) | June 25, 2026 |
| /s/ Angela A. Stephens<br> Angela A. Stephens | Controller (Principal Accounting Officer) | June 25, 2026 |
| /s/ Pamela Patsley<br> Pamela Patsley | Chairman of the Board | June 11, 2026 |
| /s/ Oray Boston<br> Oray Boston | Director | June 11, 2026 |
| /s/ Brian Driscoll<br> Brian Driscoll | Director | June 12, 2026 |
| /s/ Juliette Hickman<br> Juliette Hickman | Director | June 11, 2026 |
| /s/ William Newlands<br> William Newlands | Director | June 11, 2026 |
| /s/Debra Sandler<br> Debra Sandler | Director | June 11, 2026 |
| /s/ Michael Van de Ven<br> Michael Van de Ven | Director | June 11, 2026 |
| /s/ Lawson Whiting<br> Lawson Whiting | Director | June 11, 2026 |

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## Exhibit 99.1

**Exhibit 99.1** 

**KEURIG DR PEPPER INC.** 

**OMNIBUS STOCK INCENTIVE PLAN OF 2026** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1. PLAN**. This Keurig Dr Pepper Inc. Omnibus Stock Incentive Plan of 2026 (this "**Plan**") was adopted by Keurig Dr Pepper Inc., a Delaware corporation (the "**Company**"), to reward certain employees, consultants and nonemployee directors of the Company or its Subsidiaries by enabling them to acquire shares of common stock of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2. OBJECTIVES**. This Plan is designed to attract and retain employees and consultants of the Company and its Subsidiaries, to attract and retain qualified nonemployee directors of the Company, to encourage the sense of proprietorship of such employees, consultants and nonemployee directors and to stimulate the active interest of such persons in the development and financial success of the Company and its Subsidiaries. These objectives are to be accomplished by making Awards under this Plan and thereby providing Participants with a proprietary interest in the growth and performance of the Company and its Subsidiaries.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3. DEFINITIONS**. As used herein, the terms set forth below shall have the following respective meanings:

"**Authorized Officer**" means the Chief Executive Officer or Chief Human Resources Officer of the Company (or any other senior officer of the Company to whom the Company's Chief Executive Officer or Chief Human Resources Officer shall delegate the authority to execute any Award Agreement).

"**Award**" means the grant of any Option, Stock Appreciation Right, Stock Award or Performance Award, whether granted singly, in combination or in tandem, to a Participant pursuant to such applicable terms, conditions and limitations as the Committee may establish in accordance with the objectives of this Plan.

"**Award Agreement**" means any written agreement (including in electronic form) between the Company and a Participant setting forth the terms, conditions and limitations applicable to an Award.

"**Board**" means the board of directors of the Company.

"**Cause**" has the meaning assigned to such term in the applicable Award Agreement, or, if none, has the meaning set forth in the Company's Executive Severance Plan (or any successor plan), if the Participant is a participant in such plan, or otherwise has the meaning set forth in the Company's Salaried Employee Severance Plan (or any successor plan).

"**Change in Control**" has the meaning assigned to such term in the applicable Award Agreement, or, if none, means the occurrence of any of the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any person or "group" (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the "**Exchange Act**")) is or becomes the "beneficial owner" (as defined below), directly or indirectly, of securities representing more than 50% of the combined voting power of the Company's then outstanding securities. For purposes of this clause (i), "**beneficial owner**" has the

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meaning given to such term in Rule 13d-3 under the Exchange Act, except that a person shall be deemed to be the "beneficial owner" of all shares that any such person has the right to acquire pursuant to any agreement or arrangement or upon exercise of conversion rights, warrants, options or otherwise, without regard to the 60-day period referred to in such Rule; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the consummation of a plan or agreement approved by the Company's shareholders, providing (<u>x</u>) for a merger or consolidation of the Company other than with a wholly owned subsidiary of such entity and other than a merger or consolidation that would result in the voting securities of such entity outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of such entity or such surviving entity outstanding immediately after such merger or consolidation or (<u>y</u>) for a sale, exchange or other disposition of all or substantially all of the business or assets of the Company.

"**Code**" means the Internal Revenue Code of 1986, as amended from time to time.

"**Committee**" means the Compensation Committee of the Board, any successor committee thereto or such other committee of the Board as may be designated by the Board to administer this Plan in whole or in part including any subcommittee of the Board as designated by the Board.

"**Common Stock**" means the common stock, par value $0.01 per share, of the Company.

"**Consultant**" means any consultant or independent contractor of the Company or any Subsidiary, but not including any Employee or Nonemployee Director.

"**Disability**" means permanent and total disability as determined under the Company's long-term disability plan applicable to the Participant, or if there is no such plan applicable to the Participant, a determination of total disability by the Social Security Administration; provided that, in either case, the Participant's condition also qualifies as a "disability" for purposes of Section 409A with respect to an Award subject to Section 409A.

"**Disaffiliation**" means the sale, spin-off, public offering or other transaction that affects the divestiture of the Company's ownership of a Subsidiary or division of the Company.

"**Dividend Equivalents**" means an amount equal to all dividends and other distributions (or the economic equivalent thereof) that are payable to shareholders of record on a like number of shares of Common Stock, which may be granted with respect to shares of Restricted Stock or Restricted Stock Units.

"**Effective Date**" has the meaning set forth in paragraph 23.

"**Employee**" means an employee of the Company or any of its Subsidiaries.

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"**Fair Market Value**" of a share of Common Stock means, as of a particular date, (i) if shares of Common Stock are listed on a national securities exchange, the closing sales price per share of Common Stock on the consolidated transaction reporting system for the principal national securities exchange on which shares of Common Stock are listed on that date, or, if there shall have been no such sales reported on that date, on the last preceding date on which such a sale was so reported, (ii) if the Common Stock is not so listed but is traded on an over-the-counter market, the mean between the closing bid and asked price on that date, or, if there are no such prices available for such date, on the last preceding date on which such prices shall be available, as reported by the OTC Markets Group, or (iii) if shares of Common Stock are not publicly traded, the most recent value determined by an independent appraiser appointed by the Company for such purpose.

"**Good Reason**" has the meaning assigned to such term in the applicable Award Agreement, or, if none, has the meaning set forth in the Company's Executive Severance Plan, if the Participant is a participant in such plan, or otherwise shall mean the occurrence of any of the following: (i) a material reduction in the Participant's base salary, other than as part of an overall expense reduction program that is generally applicable to all similarly situated employees; (ii) a material adverse reduction in the Participant's duties and responsibilities such that the Participant is required to serve in a position that is at least two salary grades lower than the position in which the Participant had been serving prior to such reduction; or (iii) the relocation of the Participant's principal workplace without the Participant's consent to a location more than 50 miles distant from the location at which the Participant had previously been principally providing services.

Notwithstanding the foregoing, any assertion by a Participant of a Termination of Employment for Good Reason shall not be effective unless all of the following conditions are satisfied: (A) the condition giving rise to the Participant's Termination of Employment must have arisen without the Participant's consent; (B) the Participant must provide notice to the Company of such condition within 30 days of the date that the Participant first becomes aware of the condition; (C) the condition specified in such notice must remain uncorrected for 30 days after receipt of such notice by the Company; and (D) the date of the Participant's Termination of Employment must occur within 30 days after the date the Company's cure period expires.

"**Incentive Option**" means an Option that is intended to comply with the requirements set forth in Section 422 of the Code.

"**Nonemployee Director**" means an individual serving as a member of the Board who is not an employee of the Company or any of its Subsidiaries.

"**Nonqualified Option**" means an Option that is not intended to comply with the requirements set forth in Section 422 of the Code.

"**Option**" means a right to purchase a specified number of shares of Common Stock at a specified price.

"**Participant**" means an Employee, Consultant or Nonemployee Director to whom an Award has been made under this Plan.

"**Performance Award**" means an award made pursuant to this Plan to a Participant, which Award is subject to the attainment of one or more Performance Goals.

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"**Performance Goal**" means a standard established by the Committee, to determine in whole or in part whether a Performance Award shall be earned.

"**Prior Plans**" means the Keurig Dr Pepper Inc. Omnibus Stock Incentive Plan of 2019 and the Keurig Dr Pepper Inc. Omnibus Stock Incentive Plan of 2009, each as amended.

"**Restricted Stock**" means any Common Stock that is restricted or subject to forfeiture provisions.

"**Restricted Stock Unit**" means a unit evidencing the right to receive one share of Common Stock or equivalent value (as determined by the Committee) that is restricted or subject to forfeiture provisions.

"**Section 409A**" means Section 409A of the Code and any Treasury Regulations and guidance promulgated thereunder.

"**Separation from Service**" with respect to Awards that are subject to Section 409A, means a Participant's Termination of Employment with the Company and any of its Subsidiaries, other than by reason of death or Disability that qualifies as a 'separation from service' for purposes of Section 409A.

"**Stock Appreciation Right**" or "**SAR**" means a right to receive a payment, in cash or Common Stock, equal to the excess of the Fair Market Value or other specified valuation of a specified number of shares of Common Stock on the date the right is exercised over a specified strike price, in each case, as determined by the Committee.

"**Stock Award**" means an award in the form of shares of Common Stock or units denominated in shares of Common Stock, including an award of Restricted Stock or Restricted Stock Units.

"**Subsidiary**" means (i) in the case of a corporation, any corporation of which the Company directly or indirectly owns shares representing 50% or more of the combined voting power of the shares of all classes or series of capital stock of such corporation which have the right to vote generally on matters submitted to a vote of the shareholders of such corporation and (ii) in the case of a partnership or other business entity not organized as a corporation, any such business entity of which the Company directly or indirectly owns 50% or more of the voting, capital or profits interests (whether in the form of partnership interests, membership interests or otherwise).

"**Termination of Employment**" means the termination of a Participant's employment with, or performance of services for, the Company and any of its Subsidiaries. Unless otherwise determined by the Committee, if a Participant's employment with the Company and its Subsidiaries terminates but such Participant continues to provide services to the Company and its Subsidiaries in a non-employee capacity or a Consultant or Nonemployee Director commences employment with the Company or a Subsidiary, such change in status shall not be deemed a Termination of Employment. A Participant shall be deemed to incur a Termination of Employment in the event of the Disaffiliation of such Participant's Subsidiary or division unless the Committee specifies otherwise. Temporary absences from employment because of illness or

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vacation and transfers among the Company and its Subsidiaries do not constitute a Termination of Employment. The Committee may determine, in its sole discretion, whether any period of garden leave or any other leave of absence constitutes a Termination of Employment. If an Award is subject to Section 409A, however, Termination of Employment for purposes of that Award shall mean the Participant's Separation from Service.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4. ELIGIBILITY.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Employees</u>. Employees are eligible to receive Awards under this Plan as determined in the sole discretion of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Consultants</u>. Consultants are eligible to receive Awards under this Plan as determined in the sole discretion of the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Nonemployee Directors</u>. Nonemployee Directors are eligible to receive Awards under this Plan, in their capacities as directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5. COMMON STOCK AVAILABLE FOR AWARDS**. Subject to the provisions of paragraph 15 hereof, there shall be available for issuance pursuant to Awards granted under this Plan an aggregate number of shares of Common Stock equal to the sum of (i) 44,000,000 (all of which may be granted, in the sole discretion of the Committee, as Incentive Options), plus (ii) the number of shares that are subject to or underlie awards which expire or for any reason are cancelled, terminated, forfeited, fail to vest, or for any other reason are not paid or delivered in shares under the Prior Plans following the Effective Date, except for the shares surrendered or withheld as payment of either the exercise price of an award and/or withholding taxes in respect of such an award, less (iii) the number of shares that are subject to awards granted under the Prior Plans from April 8, 2026 through the Effective Date. From and after the Effective Date, no further awards shall be granted under the Prior Plans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Shares of Common Stock issued upon settlement or exercise of an Award shall reduce the number of shares of Common Stock available for issuance under this Plan. Subject to Section 5(b) below, if an Award expires, is cancelled, terminated, forfeited, fails to vest, or for any other reason is not paid or settled in shares of Common Stock, the shares of Common Stock subject to such Award shall remain available for issuance under this Plan. For the avoidance of doubt, Awards that by their terms do not permit settlement in shares of Common Stock shall not reduce the number of shares of Common Stock available for issuance under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding the above, any shares of Common Stock that are tendered by a Participant or withheld as full or partial payment of withholding or other taxes or as payment for the exercise or conversion price of an Award under this Plan shall reduce the number of shares of Common Stock available for issuance under this Plan.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Any shares of Common Stock underlying Awards granted through the assumption of, or in substitution for, outstanding awards previously granted to individuals who become employees or other service providers of the Company as a result of a merger, consolidation, acquisition or other corporate transaction involving the Company shall not, unless required by law or regulation, count against the reserve of available shares of Common Stock under this Plan.

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The Committee and the appropriate officers of the Company shall be authorized to, from time to time, take all such actions as any of them may determine are necessary or appropriate to file any documents with governmental authorities, stock exchanges and transaction reporting systems as may be required to cause shares of Common Stock to be available for issuance pursuant to Awards in accordance with the terms hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. ADMINISTRATION**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>Authority of the Committee</u>. This Plan shall be administered by the Committee, which shall have the powers vested in it by the terms of this Plan, such powers to include the authority (within the limitations described in this Plan):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to select the Employees, Consultants and Nonemployee Directors to be granted Awards under this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to determine the terms of Awards to be made to each Participant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to determine the time when Awards are to be granted and any conditions that must be satisfied before an Award is
granted;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to establish objectives and conditions for earning Awards;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to determine the terms and conditions of Award Agreements (which shall not be inconsistent with this Plan) and
who must sign each Award Agreement;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to determine whether the conditions for earning an Award have been met and whether a Performance Award will be
paid at the end of an applicable performance period;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• except as otherwise provided in paragraph 13, to modify the terms of Awards made under this Plan;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to determine if, when and under what conditions payment of all or any part of an Award may be deferred;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to determine whether the amount or payment of an Award should be reduced or eliminated; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• to determine the guidelines and/or procedures for the payment or exercise of Awards.

The Committee may correct any defect or supply any omission or reconcile any inconsistency in this Plan or in any Award in the manner and to the extent the Committee deems necessary or desirable to further Plan purposes. Any decision of the Committee in the interpretation and administration of this Plan shall lie within its sole discretion and shall be final, conclusive and binding on all parties concerned.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Limitation of Liability</u>. No member of the Committee or officer of the Company to whom the Committee has delegated authority in accordance with the provisions of paragraph 7 of this Plan shall be liable for anything done or omitted to be done by such member or delegate in connection with the performance of any duties under this Plan, except for their own willful misconduct or as expressly provided by statute.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Prohibition on Repricing of Awards</u>. The terms of outstanding Awards may not be amended to reduce the exercise price of outstanding Options or SARs, outstanding Options or SARs may not be cancelled, exchanged, substituted, bought out or surrendered in exchange for cash, other awards or Options or SARs with an exercise price that is less than the exercise price of the original Options or SARs nor may any other action be taken with respect to Options or SARs that would be treated as a repricing under generally accepted accounting principles or the rules of any securities exchange or automated quotation system on which the shares of Common Stock are listed, quoted or traded, unless (i) approved by the stockholders or (ii) in connection with a corporate transaction involving the Company (including, without limitation, any stock dividend, stock split, extraordinary cash dividend, recapitalization, reorganization, merger, consolidation, split-up, spin-off, combination, or exchange of shares).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7. DELEGATION OF AUTHORITY**. To the extent permitted by applicable law and the rules of any securities exchange or automated quotation system on which the shares of Common Stock are listed, quoted or traded, the Board or Committee may from time to time delegate to a committee of one or more members of the Board or to one or more officers of the Company the authority to grant or amend Awards or to take other administrative actions pursuant to this Plan (and references in this Plan to the Board or the Committee shall thereafter include such delegate); provided, however, that in no event shall an officer of the Company be delegated the authority to grant Awards to, or amend Awards held by, himself or herself or any individuals who are subject to Section 16 of the Securities Exchange Act of 1934, as amended. Any delegation hereunder shall be subject to the restrictions and limits that the Board or Committee specifies at the time of such delegation, and the Board may at any time rescind the authority so delegated or appoint a new delegate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8. AWARDS**. (a) *Award Types*. The Committee shall determine the type or types of Awards to be made under this Plan and shall designate from time to time the Participants who are to receive such Awards. Each Award shall be embodied in an Award Agreement, which shall contain such terms, conditions and limitations as shall be determined by the Committee in its sole discretion.

Awards may consist of those listed in this paragraph 8(a) and may be granted singly, in combination or in tandem. Awards may also be made in combination or in tandem with, in replacement of, or as alternatives to, grants or rights under this Plan or any other plan of the Company or any of its Subsidiaries, including the plan of any acquired entity; provided that, all Awards shall be subject to the restrictions set forth in paragraph 6(c) hereof. All or part of an Award may be subject to conditions established by the Committee, which may include, but are not limited to, continuous service with the Company and its Subsidiaries, achievement of specific business objectives, increases in specified indices, attainment of specified growth rates and other comparable measurements of performance. Upon a Participant's Termination of Employment, any unexercised, deferred, unvested or unpaid Awards shall be treated as set forth in the applicable Award Agreement.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) *Option*. An Award may be in the form of an Option. An Option awarded pursuant to this Plan may consist of an Incentive Option or a Nonqualified Option. Incentive Options may not be awarded to Consultants or Nonemployee Directors. The price at which shares of Common Stock may be purchased upon the exercise of an Option shall be not less than the Fair Market Value of the Common Stock on the date of grant. The term of an Option shall not exceed ten years from the date of grant. The terms and conditions of Incentive Options shall be subject to the provisions of Section 422 of the Code and the terms, conditions, limitations and administrative procedures established by the Committee from time to time in accordance with this Plan. Notwithstanding anything to the contrary in the Plan, if an Incentive Option is granted to a Participant who owns shares representing more than 10% of the voting power of all classes of shares of the Company, its "parent corporation" (as such term is defined in Section 424(e) of the Code) or a Subsidiary of the Company, the term of the Incentive Option shall not exceed five years from the date of grant and the exercise price shall be at least 110% of the Fair Market Value of the shares of Common Stock on the date of grant. To the extent the aggregate Fair Market Value (determined on the date of grant) of the shares of Common Stock for which Incentive Options are exercisable for the first time by any Participant during any calendar year (under all plans of the Company) exceeds $100,000, such excess Incentive Options shall be treated as Nonqualified Options. Each Participant awarded an Incentive Option under the Plan shall notify the Company in writing immediately after the date the Participant makes a "disqualifying disposition" of any share acquired pursuant to the exercise of such Incentive Option. A "disqualifying disposition" is any disposition (including any sale) of such shares before the later of (i) two years after the date of grant of the Incentive Option and (ii) one year after the date the Participant acquired the shares by exercising the Incentive Option. Subject to the foregoing provisions, the terms, conditions and limitations applicable to any Options awarded pursuant to this Plan, including the term of any Options and the date or dates upon which they become exercisable, shall be determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) *Stock Appreciation Right*. An Award may be in the form of a Stock Appreciation Right. The strike price for a Stock Appreciation Right shall not be less than the Fair Market Value of the Common Stock on the date on which the Stock Appreciation Right is granted. The term of a Stock Appreciation Right shall not exceed ten years from the date of grant. Subject to the foregoing limitations, the terms, conditions and limitations applicable to any Stock Appreciation Rights awarded pursuant to this Plan, including the term of any Stock Appreciation Rights and the date or dates upon which they become exercisable, shall be determined by the Committee.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) *Stock Award*. An Award may be in the form of a Stock Award. The terms, conditions and limitations applicable to any Stock Awards granted pursuant to this Plan shall be determined by the Committee, subject to the limitations specified below.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) *Performance Award*. Without limiting the type or number of Awards that may be made under the other provisions of this Plan, any Award may be in the form of a Performance Award. The terms, conditions and limitations applicable to any Performance Awards granted to Participants pursuant to this Plan shall be determined by the Committee, subject to the limitations specified below. The Committee shall set Performance Goals in its sole discretion which, depending on the extent to which they are met, will determine the value and/or amount of Performance Awards that will be paid out to the Participant and/or the portion of an Award that may be exercised.

A Performance Goal may include one or more of the following and need not be the same for each Participant:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• revenue and income measures (such as revenue, gross margin, income from operations, net income, net sales and
earnings per share);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• expense measures (such as costs of goods sold, selling, general and administrative expenses and overhead costs);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• operating measures (such as volume, margin, breakage and shrinkage, productivity and market share);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• cash flow measures (such as net cash flow from operating activities and working capital);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• liquidity measures (such as earnings before or after the effect of certain items such as interest, taxes,
depreciation and amortization, and free cash flow);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• leverage measures (such as debt-to-equity ratio and net debt);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• market measures (such as market share, stock price, total shareholder return and market capitalization measures);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• return measures (such as return on equity, return on assets, return on invested capital and internally developed
total return measures incorporating profit growth and cash flow yield measures, with cash flow yield incorporating cash flow and capital expenditures);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• corporate value measures (such as compliance, safety, environmental and personnel matters);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• other measures such as those relating to acquisitions, dispositions or customer satisfaction; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• any such other goal as may be identified by the Committee.

Unless otherwise stated, such a Performance Goal may be set using the following baselines: past performance, forward looking budgets or expectations, performance relative to a peer group or index selected by the Committee.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) *Performance Award Adjustments*. The Committee shall adjust the Performance Goals (either up or down) and the level of the Performance Award that a Participant may earn under this Plan, if it determines that the occurrence of external changes or other unanticipated business conditions have materially affected the fairness of the goals and have unduly influenced the Company's ability to meet them, including without limitation, events such as material acquisitions, divestitures, changes in the capital structure of the Company, and accounting and tax law changes. In addition, Performance Goals and Performance Awards shall be calculated without regard to any changes in accounting standards that may be required by the Financial Accounting Standards Board after such Performance Goals are established. Further, the Committee shall have the authority to adjust the determinations of the degree of attainment of Performance Goals and any Participant's Performance Award Opportunity, upward or downward in its sole discretion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) *Minimum Vesting Period*. All Awards granted under this Plan shall vest no earlier than the first anniversary of the date of grant of such Award; provided, however, that the following Awards shall not be subject to the foregoing minimum vesting requirements: (i) Awards granted to Nonemployee Directors that vest on the earlier of the one-year anniversary of the date of grant and the next annual meeting of shareholders that is at least 50 weeks after the immediately preceding year's annual meeting, (ii) Awards for which vesting is accelerated in connection with the Participant's death, Disability, retirement, or a Change in Control; and (iii) other Awards covering up to a maximum of 5% of the maximum number of shares of Common Stock initially reserved for issuance under Section 5(i) hereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9. AWARDS TO NONEMPLOYEE DIRECTORS**. The Committee may grant a Nonemployee Director of the Company one or more Awards and establish the terms thereof in accordance with paragraph 8 consistent with the provisions therein for the granting of Awards to Employees and subject to the applicable terms, conditions and limitations set forth in this Plan and the applicable Award Agreement. The total compensation paid to any one Nonemployee Director during any calendar year shall not exceed $800,000, including the aggregate Fair Market Value on the date of grant of shares of Common Stock subject to Awards granted under this Plan and any cash compensation paid or payable to such Nonemployee Director; provided that the foregoing limit shall be 200% of such amount in a Nonemployee Director's first year of service or when such Nonemployee Director is serving as chairman or lead independent director. The limitation described in this paragraph 9 shall be determined without regard to amounts paid to a Nonemployee Director during or for any period in which such individual was an Employee or Consultant, and any severance and other payments paid to a Nonemployee Director for such director's prior or current service to the Company or any Subsidiary other than serving as a Nonemployee Director shall not be taken into account in applying the limit provided above. For the avoidance of doubt, any compensation that is deferred shall be counted toward this limit for the year in which it was first earned, and not when paid or settled.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10. AWARD PAYMENT; DIVIDENDS; FRACTIONAL SHARES.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) <u>General</u>. Payment of Awards may be made in the form of cash or Common Stock, or a combination thereof, and may include such restrictions as the Committee shall determine, including, in the case of Common Stock, restrictions on transfer and forfeiture provisions.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <u>Dividends and Interest</u>. Rights to dividends or Dividend Equivalents may be extended to and made part of any Award consisting of shares of Common Stock or units denominated in shares of Common Stock, subject to such terms, conditions and restrictions as the Committee may establish. No dividends shall be paid on Options or SARs. Although such may accrue and accumulate over the vesting period applicable to the Award, no dividends or Dividend Equivalents shall be paid on Stock Awards or Performance Awards unless and until such Awards are fully vested. The Committee may also establish rules and procedures for the crediting of interest on deferred cash payments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) <u>Fractional Shares</u>. No fractional shares shall be issued or delivered pursuant to any Award under this Plan. The Committee shall determine whether cash, Awards or other property shall be issued or paid in lieu of fractional shares, or whether fractional shares or any rights thereto shall be forfeited or otherwise eliminated.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**11. STOCK OPTION EXERCISE**. The price at which shares of Common Stock may be purchased under an Option shall be paid in full at the time of exercise in cash or, if elected by the Participant, the Participant may purchase such shares by means of tendering Common Stock valued at Fair Market Value on the date of exercise, or any combination thereof. The Board or the Committee, in its sole discretion, shall determine acceptable methods for Participants to tender Common Stock. In accordance with the rules and procedures established for this purpose and subject to applicable law, Options may also be exercised through "cashless exercise" procedures approved by the Board or the Committee involving a net settlement procedure or an approved broker or dealer assisted sell-to-cover transaction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**12. TAXES**. The Company shall have the right to deduct applicable taxes from any Award payment and withhold, at the time of delivery or vesting of cash or shares of Common Stock under this Plan, an appropriate amount of cash or number of shares of Common Stock or a combination thereof for payment of taxes required by law or to take such other action as may be necessary in the opinion of the Company to satisfy all obligations for withholding of such taxes. The Board or the Committee may also permit withholding to be satisfied by the transfer to the Company of shares of Common Stock owned by the holder of the Award with respect to which withholding is required, a net settlement procedure or an approved broker or dealer assisted sell-to-cover transaction. If shares of Common Stock are used to satisfy tax withholding, such shares shall be valued based on the Fair Market Value when the tax withholding is required to be made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**13. AMENDMENT, MODIFICATION, SUSPENSION OR TERMINATION**. The Board or the Committee may amend, modify, suspend or terminate this Plan for the purpose of meeting or addressing any changes in legal requirements or for any other purpose permitted by law, except that (i) no amendment or alteration that would materially adversely affect the rights of any Participant under any Award previously granted to such Participant shall be made without the consent of such Participant and (ii) no amendment or alteration shall be effective prior to its approval by the shareholders of the Company to the extent shareholder approval is otherwise required by applicable legal requirements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**14. ASSIGNABILITY**. Unless otherwise determined by the Committee in the Award Agreement, no Award or any other benefit under this Plan shall be assignable or otherwise transferable. Any attempted assignment of an Award or any other benefit under this Plan in violation of this paragraph 14 shall be null and void.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**15. ADJUSTMENTS**.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The existence of outstanding Awards shall not affect in any manner the right or power of the Company or its shareholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the capital stock of the Company or its business or any merger or consolidation of the Company, or any issue of bonds, debentures, preferred or prior preference stock (whether or not such issue is prior to, on a parity with or junior to the Common Stock) or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding of any kind, whether or not of a character similar to that of the acts or proceedings enumerated above.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In the event of any subdivision or consolidation of outstanding shares of Common Stock, declaration of a dividend payable in shares of Common Stock or other stock split, then (i) the number of shares of Common Stock reserved under this Plan, (ii) the number of shares of Common Stock covered by outstanding Awards in the form of Common Stock or units denominated in Common Stock, (iii) the exercise or other price in respect of such Awards, and (iv) the appropriate Fair Market Value and other price determinations for such Awards shall each be proportionately adjusted by the Board to reflect such transaction. In the event of any other recapitalization or capital reorganization of the Company, any consolidation or merger of the Company with another corporation or entity, the adoption by the Company of any plan of exchange affecting the Common Stock or any distribution to holders of Common Stock of securities or property (other than normal cash dividends or dividends payable in Common Stock), the Board shall make appropriate adjustments to (i) the number of shares of Common Stock covered by Awards in the form of Common Stock or units denominated in Common Stock, (ii) the exercise or other price in respect of such Awards, and (iii) the appropriate Fair Market Value and other price determinations for such Awards, to give effect to such transaction; provided that such adjustments shall only be such as are necessary to maintain the proportionate interest of the holders of the Awards and preserve, without exceeding, the value of such Awards.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In the event of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization or liquidation, whether or not such constitutes a Change in Control, the Board may make such adjustments to Awards or other provisions for the disposition of Awards as it deems equitable, and shall be authorized, in its sole discretion, (i) to provide for the substitution of a new Award or other arrangement (which, if applicable, may be exercisable for such property or stock as the Board determines) for an Award or the assumption of the Award, regardless of whether in a transaction to which Section 424(a) of the Code applies, (ii) to provide, in connection with a transaction, for the acceleration of the vesting and exercisability of, or lapse of restrictions with respect to, the Award and, if the transaction is a cash merger, provide for the termination of any portion of the Award that remains unexercised at the time of such transaction or (iii) to cancel any such Awards and to deliver to the Participants cash in an amount that the Board shall determine in its sole discretion is equal to the fair market value of such Awards on the date of such event, which in the case of Options or Stock Appreciation Rights shall be the excess of the Fair Market Value of Common Stock on such date over the exercise price of such Award (for the avoidance of doubt, if the exercise price is less than Fair Market Value the Option or Stock Appreciation Right may be canceled for no consideration).

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16. RESTRICTIONS**. No Common Stock or other form of payment shall be issued with respect to any Award unless the Company shall be satisfied based on the advice of its counsel that such issuance will be in compliance with applicable federal and state securities laws. Certificates evidencing shares of Common Stock delivered under this Plan (to the extent that such shares are so evidenced) may be subject to such stop transfer orders and other restrictions as the Committee may deem advisable under the rules, regulations and other requirements of the Securities and Exchange Commission, any securities exchange or transaction reporting system upon which the Common Stock is then listed or to which it is admitted for quotation and any applicable federal or state securities law. The Committee may cause a legend or legends to be placed upon such certificates (if any) to make appropriate reference to such restrictions. In addition, the Company may impose other restrictions on shares of Common Stock acquired under this Plan, including a requirement to hold such shares with a designated brokerage or under the Company's insider trading policy.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**18. SECTION 409A OF THE CODE**. The intent of the parties is that payments and benefits under the Plan comply with Section 409A of the Code to the extent subject thereto, and, accordingly, to the maximum extent permitted, the Plan shall be interpreted and be administered to be in compliance therewith. Any payments described in the Plan that are due within the "short-term deferral period" as defined in Section 409A of the Code, or otherwise exempt from Section 409A, shall not be treated as deferred compensation unless applicable law requires otherwise. Notwithstanding anything contained herein to the contrary, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, the Participant shall not be considered to have terminated employment with the Company for purposes of the Plan and no payment shall be due to the Participant under the Plan or any Award until the Participant would be considered to have incurred a Separation from Service. Notwithstanding anything to the contrary in the Plan, to the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A of the Code, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to the Plan during the six (6) month period immediately following the Participant's Separation from Service shall

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instead be paid on the first business day after the date that is six (6) months following the Participant's Separation from Service (or upon the Participant's death, if earlier). In addition, for purposes of the Plan, each amount to be paid or benefit to be provided to the Participant pursuant to the Plan, which constitute deferred compensation subject to Section 409A of the Code, shall be construed as a separate identified payment for purposes of Section 409A of the Code. Notwithstanding the foregoing, for each Award that constitutes nonqualified deferred compensation under Section 409A of the Code, if required to avoid accelerated taxation and/or tax penalties, a "change in control" shall be deemed to have occurred for purposes of the payment or settlement of such Award under the Plan only if a "change in the ownership of the corporation," a "change in effective control of the corporation" or a "change in the ownership of a substantial portion of the assets of the corporation," within the meaning of Section 409A(a)(2)(A)(v) of the Code shall also be deemed to have occurred under Section 409A of the Code. Notwithstanding anything in this Plan to the contrary, if any Plan provision or Award under this Plan would result in the imposition of an applicable tax under Section 409A, that Plan provision or Award may be reformed by the Company to avoid imposition of the applicable tax and no such action shall be deemed to adversely affect the Participant's rights to an Award.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**19. GOVERNING LAW**. This Plan and all determinations made and actions taken pursuant hereto, to the extent not otherwise governed by mandatory provisions of the Code or the securities laws of the United States, shall be governed by and construed in accordance with the laws of the State of Delaware.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**20. NO RIGHT TO EMPLOYMENT OR DIRECTORSHIP**. Nothing in this Plan or an Award Agreement shall interfere with or limit in any way the right of the Company or a Subsidiary to terminate any Participant's employment or other service relationship at any time, nor confer upon any Participant any right to continue in the capacity in which he or she is employed or otherwise serves the Company or any Subsidiary. Further, nothing in this Plan or an Award Agreement constitutes any assurance or obligation of the Board to nominate any Nonemployee Director for re- election by the Company's shareholders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**21. SUCCESSORS**. All obligations of the Company under this Plan with respect to Awards granted hereunder shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**22. TAX CONSEQUENCES**. Nothing in this Plan or an Award Agreement shall constitute a representation by the Company to a Participant regarding the tax consequences of any Award received by a Participant under this Plan. Although the Company may endeavor to avoid adverse tax treatment (e.g. under Section 409A), the Company makes no representation to that effect and expressly disavows any covenant to maintain favorable or unavoidable tax treatment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**23. EFFECTIVENESS**. This Plan is effective June 16, 2026 (the "**Effective Date**"), subject to approval by the shareholders of the Company. This Plan shall continue in effect for a term of ten years after the date on which the shareholders of the Company approve this Plan, unless sooner terminated by action of the Board; provided, however that Incentive Options may not be granted hereunder following April 17, 2036.

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24. CLAWBACK/RECOUPMENT**. All Awards made under the Plan, and any Shares issued or other payments made in respect thereof, shall be subject to the Company's share ownership policies and any recoupment policy that the Company may adopt from time to time, including, but not limited to, the Company's Ownership Guidelines for Senior Vice Presidents & Vice Presidents, the Company's Rule 10D-1 Clawback Policy, designed to comply with the requirements of Rule 10D-1 promulgated under the U.S. Securities Exchange Act of 1934, as amended, and the Company's Senior Leadership Clawback Policy, as well as any recoupment provisions required under applicable law. To the extent that the terms of this Plan and any Company policy conflict, the terms of the policy shall prevail.

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Keurig Dr Pepper Inc.**  |

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Security Type**  | **Security Class Title**  | **Fee Calculation Rule**  | **Amount Registered**  | **Proposed Maximum Offering Price Per Unit**  | **Maximum Aggregate Offering Price**  | **Fee Rate**  | **Amount of Registration Fee**  |
| 1 | Equity | Common Stock, $0.01 par value per share | 457(a) | 52800000 | $30.94 | $1633632000.00 | 0.0001381 | $225604.58 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $1633632000.00  |  | $225604.58  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $225604.58  |

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 **Offering Note** <br>

<sup>1</sup> The Amount Registered represents 52,800,000 shares of common stock, par value $0.01 per share (the "Common Stock") of Keurig Dr Pepper Inc. (the "Registrant") issuable under the Registrant's Omnibus Stock Incentive Plan of 2026 (the "Incentive Plan"), including 8,800,000 shares of Common Stock that may again become available for issuance under the Incentive Plan as a result of outstanding awards that are cancelled, terminated, forfeited, fail to vest, or for any other reason are not paid or delivered in shares pursuant to the terms of the Incentive Plan. Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this Registration Statement on Form S-8 shall also cover any additional shares of Common Stock that become issuable under the Incentive Plan to prevent dilution in the event of stock splits, stock dividends or similar transactions. The Proposed Maximum Offering Price Per Unit has been estimated solely for the purpose of calculating the registration fee pursuant to Rules 457(c) and (h) of the Securities Act, and is based on the average of the high and low sale prices of the Common Stock, as quoted on The Nasdaq Stock Market, on June 18, 2026.

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| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

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