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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 4, 2025
COCA-COLA CONSOLIDATED, INC.
(Exact name of registrant as specified in its charter)
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Delaware | | 0-9286 | | 56-0950585 |
(State or other jurisdiction of incorporation) | | (Commission File Number) | | (IRS Employer Identification No.) |
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4100 Coca-Cola Plaza Charlotte, NC | | | | 28211 |
(Address of principal executive offices) | | | | (Zip Code) |
Registrant’s telephone number, including area code: (980) 392-8298
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
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Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common Stock, par value $1.00 per share | COKE | The Nasdaq Global Select Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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 13(a) of the Exchange Act. ☐
Item 8.01. Other Events.
On March 4, 2025, Coca-Cola Consolidated, Inc. (the “Company”) announced that the Company’s Board of Directors (the “Board”) approved a 10-for-1 split of the Company’s Common Stock and Class B Common Stock to be effected through an amendment to the Company’s Restated Certificate of Incorporation (the “Amendment”). The Amendment will also effect a proportionate increase in the number of shares of authorized Common Stock and Class B Common Stock.
The stock split and the increase in the number of authorized shares are subject to stockholder approval of the Amendment at the 2025 Annual Meeting of Stockholders (the “Annual Meeting”), which is currently scheduled to take place on May 13, 2025. The Company’s definitive proxy statement relating to the Annual Meeting will include additional details regarding the Amendment.
Subject to stockholder approval of the Amendment, each Company stockholder of record at the close of business on May 16, 2025, will have 9 additional shares for each share of Common Stock or Class B Common Stock held as of such date reflected in their accounts on or about May 23, 2025. Trading is expected to begin on a split-adjusted basis on or about May 27, 2025.
A copy of the news release discussing these announcements is filed as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit No. | | Description | | Incorporated by Reference or Filed Herewith |
99.1 | | | | Filed herewith. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | COCA-COLA CONSOLIDATED, INC. |
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Date: March 4, 2025 | | By: | /s/ E. Beauregarde Fisher III | |
| | | E. Beauregarde Fisher III Executive Vice President, General Counsel and Secretary |
Coca-Cola Consolidated Board of Directors
Approves 10 for 1 Stock Split
CHARLOTTE, March 4, 2025 – Coca‑Cola Consolidated, Inc. (NASDAQ: COKE) today announced that its Board of Directors approved a 10-for-1 split of the Company’s Common Stock and Class B Common Stock.
The stock split is subject to stockholder approval of an amendment to the Company's Restated Certificate of Incorporation to effect a 10-for-1 forward stock split of the Company’s Common Stock and Class B Common Stock and to proportionally increase the number of authorized shares of Common Stock and Class B Common Stock to accommodate the stock split (the “Amendment”). The Company intends to seek stockholder approval for the Amendment at its upcoming Annual Meeting of Stockholders on May 13, 2025.
If the Amendment is approved, stockholders of record as of May 16, 2025 will receive 9 additional shares for each share of Common Stock or Class B Common Stock held. Additional shares will be distributed to stockholders of record on or about May 23, 2025. The Company’s shares are expected to begin trading on a split-adjusted basis on or about Tuesday, May 27, 2025.
“We are pleased to announce this stock split as our shares are trading near an all-time high,” said J. Frank Harrison, III, Chairman and Chief Executive Officer. “Our solid financial performance has led to increased investor interest in our Company, and we believe this stock split will make our stock more accessible to a broader range of investors."
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CONTACTS: | | |
Brian K. Little (Media) | | Scott Anthony (Investors) |
Vice President, Corporate Communications Officer | | Executive Vice President & Chief Financial Officer |
(980) 378-5537 | | (704) 557-4633 |
Brian.Little@cokeconsolidated.com | | Scott.Anthony@cokeconsolidated.com |
About Coca-Cola Consolidated, Inc.
Headquartered in Charlotte, N.C., Coca‑Cola Consolidated (NASDAQ: COKE) is the largest Coca‑Cola bottler in the United States. We make, sell and distribute beverages of The Coca‑Cola Company and other partner companies in more than 300 brands and flavors across 14 states and the District of Columbia, to approximately
60 million consumers. For over 123 years, we have been deeply committed to the consumers, customers and communities we serve and passionate about the broad portfolio of beverages and services we offer. Our Purpose is to honor God in all we do, to serve others, to pursue excellence and to grow profitably.
More information about the Company is available at www.cokeconsolidated.com. Follow Coca‑Cola Consolidated on Facebook, X, Instagram and LinkedIn.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this news release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act. Forward-looking statements include those statements that do not relate strictly to historical or current facts. The words “anticipate,” “believe,” “expect,” “intend,” “project,” “may,” “will,” “should,” “could” and similar expressions are intended to identify forward-looking statements. While the Company has based these forward-looking statements on its current beliefs and expectations, these forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions that may cause the Company’s actual business, financial condition or results of operation to be materially different from those expressed or implied by such forward-looking statements. For information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the “Risk Factors” section of the Company’s Annual Reports on Form 10-K and other filings the Company makes with the SEC. The Company does not undertake any obligation to update forward-looking statements except as required by applicable law.
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Coca Cola Consolidated (NASDAQ:COKE)
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