PEPSICO, INC. - DEF 14A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 14A

PROXY STATEMENT PURSUANT TO SECTION 14(a)
OF THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. )

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PepsiCo, Inc.

(Name of Registrant as Specified in Its Charter)

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Announced our
54th consecutive annualized
dividend per share increase, effective
with the expected
June 2026 dividend payment

DEAR FELLOW PEPSICO SHAREHOLDERS:

Ramon L. Laguarta

Chairman of the Board of Directors and
Chief Executive Officer

I am pleased to invite you to our 2026 Annual Meeting of Shareholders on Wednesday, May 6, 2026 at 9:00 a.m. Eastern Daylight Time. This year’s event can be accessed at www.virtualshareholdermeeting.com/PEP2026.

In 2025, we continued to position our business for growth, with a focus on a clear set of priorities: reigniting our North America business including by combining operations where it makes the most sense; increasing the size, presence and scale of our International business, with a focus on capturing growth in large and developing markets; and working to grow our away-from-home business by expanding our availability and extending into new occasions.

Laying the Groundwork

Since 2018, we’ve made significant investments in the business to adapt to the changing landscape. This includes:

■	Investing to strengthen our brands;
■	Transforming our portfolio through innovation and acquisitions;
■	Foundational investments in technology and artificial intelligence to position ourselves to be fit for the future, building a set of high impact commercial, operational, and digital capabilities;
■	Expanding and updating our manufacturing footprint to enable geographic growth and capture future demand;
■	Right-sizing and modernizing our warehousing and distribution capacity; and

SEC Form DEF 14A filed by PepsiCo Inc.