DEF 14A of Coca Cola Co, Mar 16, 2026

DEF 14A of Coca Cola Co

Filed Mar 16, 2026 · FY20250001104659-26-028215

Open on EDGAR

  1. OUR 2026 DIRECTOR NOMINEES

    OUR 2026 DIRECTOR NOMINEES

  2. OUR 2026 DIRECTOR NOMINEES

    | | | | | | | DAVID B. WEINBERG, 74 Lead Independent Director Chairman and Chief Executive Officer, Judd Enterprises, Inc. Tenure: 11 years Other Public Boards: 0 Committee Membership: A G E | | | | HERB ALLEN, 58 President, Allen & Company LLC Tenure: 4 years Other Public Boards: 1* Committee Membership: G F *alternate | | | | JAMES QUINCEY, 61 Chairman and Chief Executive Officer, The Coca-Cola Company(1) Tenure: 9 years Other Public Boards: 1 Committee Membership: E | | | | CAROLINE J. TSAY, 44 Technology Company Advisor/ Limited Partner of Venture Capital Funds Tenure: 8 years Other Public Boards: 3 Committee Membership: A | | 10/12 Independent Directors Committees: A Audit T Talent and Compensation G Corporate Governance and Sustainability F Finance E Executive Chair | | BELA BAJARIA, 55 Chief Content Officer, Netflix, Inc. Tenure: 1 year Other Public Boards: 0 Committee Membership: T | | AMITY MILLHISER, 62 Former Partner and Vice Chair, PricewaterhouseCoopers LLP Tenure: 3 years Other Public Boards: 0 Committee Membership: A | | | | ANA BOTÍN, 65 Executive Chair, Banco Santander, S.A. Tenure: 13 years Other Public Boards: 2(2) Committee Membership: G F | | MAX LEVCHIN,50 Founder, Chairman and Chief Executive Officer, Affirm Holdings, Inc. Tenure: 5 months Other Public Boards: 1 Committee Membership: T | | | | HENRIQUE BRAUN, 57 Executive Vice President and Chief Operating Officer, The Coca-Cola Company(1) Tenure: -- Other Public Boards: 0 Committee Membership: None | | | | CAROLYN EVERSON, 54 Senior Advisor, Permira Tenure: 4 years Other Public Boards: 2 Committee Membership: T F | | | | THOMAS S. GAYNER, 64 Chief Executive Officer, Markel Group Inc. Tenure: 3 years Other Public Boards: 2 Committee Membership: F | | | | CHRISTOPHER C. DAVIS, 60 Chairman, Davis Selected Advisers, L.P. Tenure: 8 years Other Public Boards: 5(3) Committee Membership: A F E |

  3. OUR 2026 DIRECTOR NOMINEES

    | (1) Effective March 31, 2026, Henrique Braun will succeed James Quincey as CEO of the Company. In addition, the Board has nominated Mr. Braun to stand for election as a Director at the 2026 Annual Meeting. Mr. Quincey will serve as CEO until March 31, 2026, and will then continue as Executive Chairman of the Board. |

  4. OUR 2026 DIRECTOR NOMINEES

    | (2) Consists of Banco Santander, S.A. and its wholly owned subsidiary, Santander Holdings USA, Inc. |

  5. OUR 2026 DIRECTOR NOMINEES

    | (3) Includes investment company directorships in Selected Funds, Davis Funds and Clipper Funds Trust, three fund complexes which are advised by Davis Selected Advisers, L.P. and other entities controlled by Davis Selected Advisers, L.P. |

  6. OUR 2026 DIRECTOR NOMINEES

    | The Coca-Cola Company | 7 | 2026 Proxy Statement |

  7. OUR 2026 DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  8. SNAPSHOT OF 2026 DIRECTOR NOMINEES

    SNAPSHOT OF 2026 DIRECTOR NOMINEES

  9. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES Included in each Director nominee’s biography that follows is a description of five key qualifications and experiences of such nominee. Many of our Director nominees have more than five qualifications, and the aggregate number for all Director nominees is reflected on page 8. The Board and the Corporate Governance and Sustainability Committee believe that the combination of the various qualifications and experiences of the Director nominees would contribute to an effective and well-functioning Board and that, individually and as a whole, the Director nominees possess the necessary qualifications to provide effective oversight of the business and quality advice and counsel to the Company’s management.

  10. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | HERB ALLEN AGE: 58 | INDEPENDENT DIRECTOR SINCE: 2021 COMMITTEES: Corporate Governance and Sustainability (Chair); Finance | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Allen & Company LLC, a private investment banking firm focused on media, entertainment, technology and other innovative industries ● President (since 2002) ● Executive Vice President and Managing Director of Allen & Company Incorporated, the predecessor to the investment banking business of Allen & Company LLC (1993 to 2002) | Current Public Company Boards: ● Grupo Televisa, S.A.B. (Alternate) (since 2002) Previous Public Company Boards (Past Five Years): ● Coca-Cola FEMSA, S.A.B. de C.V. (Alternate) (2000 to 2022) | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Extensive experience supervising business operations, including providing strategic and financial advisory and investment banking services to public and private companies at Allen & Company LLC. Supervises Allen & Company LLC’s principal financial and accounting officers on all matters related to the firm’s financial position and results of operations as well as the presentation of its financial statements. Relevant Senior Leadership / Chief Executive Officer Experience President of Allen & Company LLC, a privately held investment banking firm, and its affiliate, Allen Investment Management LLC, a privately held investment advisory firm, since 2002. Innovation/Digital and Technology Experience Extensive entrepreneurial experience overseeing investments by Allen & Company LLC into early-stage companies, focusing on technologies, including e-commerce, data analytics, cybersecurity, artificial intelligence, biotechnology and SaaS technologies. Broad International Exposure / Emerging Market Experience Considerable international experience as President of Allen & Company LLC, working with international clients on mergers and acquisitions, capital markets and other advisory assignments with a focus on European and Latin American clients. Risk Oversight/Management Expertise Extensive risk and management experience as President of Allen & Company LLC, including overseeing and assessing the performance of companies and public accountants with respect to matters related to the preparation, audit and evaluation of financial statements. | |

  11. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 13 | 2026 Proxy Statement |

  12. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  13. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | BELA BAJARIA AGE: 55 | INDEPENDENT DIRECTOR SINCE: 2024 COMMITTEES: Talent and Compensation | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Netflix, Inc. (“Netflix”), one of the world’s leading entertainment services ● Chief Content Officer (since January 2023) ● Head of Global TV (October 2020 to January 2023) ● Vice President of Content (November 2016 to October 2020) Universal Television LLC (“Universal Television”), a U.S. television production company ● President (June 2015 to May 2016) ● Executive Vice President (August 2011 to June 2015) | Current Public Company Boards: ● None Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience As Chief Content Officer of Netflix, one of the world’s leading entertainment services with more than 325 million paying members, oversees an annual content budget of approximately $19 billion and sits on Netflix’s leadership team, which is responsible for strategy. Prior to joining Netflix in 2016, President of Universal Television, which she rebuilt into a major studio. Senior Vice President, Cable Programming for CBS TV Studios, and Senior Vice President of Movies and Miniseries for the CBS Network prior to Universal Television. Broad International Exposure / Emerging Market Experience Oversees the creation and production of Netflix’s scripted and unscripted series around the world, including coverage of NFL, boxing matches and WWE, and podcasts and opened 27 country offices to launch a new strategy for local language originals. Served as Head of Global TV at Netflix from October 2020 to January 2023. Marketing Experience Extensive experience storytelling — understanding audiences and connecting with them, understanding pop culture, and creating content that resonates with consumers. At Netflix, responsible for producing engaging content, including the series Stranger Things, Squid Game, Bridgerton and Heeramandi, live-action anime, unscripted dating and reality TV shows, streaming live sports and events, and films. At Universal Television, shepherded creative programming including Chicago Fire, The Mindy Project and Unbreakable Kimmy Schmidt. Named one of TIME’s 100 Most Influential People in 2022. Risk Oversight/Management Expertise As Chief Content Officer of Netflix, responsible for the development and management of TV series and films across a wide variety of genres and 50 different languages in the 190+ countries where Netflix is available. Extensive experience managing economic, reputational, regulatory, political and other risks arising from Netflix’s productions both in the U.S. and around the world. Innovation/Digital and Technology Experience As Chief Content Officer of Netflix, responsible for the implementation and distribution of content on digital platforms and the creation of anime adaptations. | |

  14. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 14 | 2026 Proxy Statement |

  15. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  16. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | ANA BOTÍN AGE: 65 | INDEPENDENT DIRECTOR SINCE: 2013 COMMITTEES: Corporate Governance and Sustainability; Finance | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Banco Santander, S.A., a leading retail and commercial bank with a global presence based in Spain ● Executive Chair (since September 2014) ● Chief Executive Officer of subsidiary Santander UK plc, a large retail and commercial bank based in the U.K. (December 2010 to September 2014) ● Executive Chair of subsidiary Banco Español de Crédito, S.A. (2002 to 2010) ● Joined Banco Santander, S.A. in 1988 J.P. Morgan, a financial services firm with operations worldwide ● Started her career in the banking industry at J.P. Morgan in New York (1981 to 1988) | Current Public Company Boards: ● Banco Santander, S.A. (since 1989) ● Santander Holdings USA, Inc., a wholly owned subsidiary of Banco Santander, S.A. (since 2019) Previous Public Company Boards (Past Five Years): ● Santander UK plc (2010 to 2021) ● Santander UK Group Holdings plc (2014 to 2021) | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Internationally recognized expert in the investment banking industry with knowledge of global macroeconomic issues. Over 40 years of experience in investment and commercial banking. Relevant Senior Leadership / Chief Executive Officer Experience Executive Chair of Banco Santander, S.A. since 2014 and Chief Executive Officer of Santander UK plc from 2010 to 2014. Broad International Exposure / Emerging Market Experience Executive Chair of Banco Santander, S.A., a global financial institution with operations in Europe, the U.K., North America, Latin America and Asia. Board member of the Institute of International Finance, a global association of the financial industry, since 2015 and Chair since January 2023. Co-founder and Chair of Fundación Empresa y Crecimiento, which finances small and medium-sized companies in Latin America. Founder and President of Fundación Empieza Por Educar, the Spanish member of the global Teach for All network. Governmental or Geopolitical Expertise Extensive experience with the regulatory framework applicable to banking institutions throughout the globe. President of the European Banking Federation from 2021 to 2023. From 2020 to 2022, Vice Chair of the Executive Committee of the World Business Council of Sustainable Development, a CEO-led community of over 200 of the world’s leading sustainable businesses that works closely with a number of non-governmental organizations. Risk Oversight/Management Expertise Extensive experience from her work with Banco Santander, S.A., Santander UK plc and Banco Español de Crédito, S.A. in the oversight and management of risk associated with retail and commercial banking activities. Since 2023, Chair of Open Bank, S.A., one of Europe’s largest digital banks, and Open Digital Services, S.L., offering cloud-based software solutions for the financial industry. Since 2020, Chair of PagoNxt, S.L., a standalone subsidiary of Banco Santander, S.A. that manages its global payment businesses. Experience with the regulated insurance industry as director of Assicurazioni Generali S.p.A., a global insurance company based in Italy, from 2004 to 2011. | |

  17. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 15 | 2026 Proxy Statement |

  18. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  19. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | HENRIQUE BRAUN AGE: 57 DIRECTOR NOMINEE COMMITTEES: None | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | The Coca-Cola Company ● Executive Vice President (since January 2024) and Chief Operating Officer (since January 2025) ● Senior Vice President (July 2023 to December 2023) ● President, International Development (January 2023 to December 2024) ● President, Latin America operating unit (October 2020 to December 2022) ● President, Brazil business unit (September 2016 to September 2020) ● President, Greater China & Korea business unit (April 2013 to August 2016) | Current Public Company Boards: ● None Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Extensive strategic and financial experience gained in executive leadership roles as Chief Operating Officer and President, International Development of the Company, delivering cross-functional turnarounds that restored growth, share and profitability in operational leadership roles in Latin America and Greater China over a 30-year tenure with the Company. Deep technical and supply chain background that reinforces disciplined execution at scale. Relevant Senior Leadership / Chief Executive Officer Experience Chief Operating Officer of the Company since January 2025 and Executive Vice President of the Company since January 2024. President, International Development, with oversight of seven of the Company’s operating units, from January 2023 to December 2024. President of the Latin America operating unit from October 2020 to December 2022. Previously served as President of the Brazil business unit and the Greater China & Korea business unit. Innovation/Digital and Technology Experience As Chief Operating Officer and President, International Development, has been instrumental in modernizing the Coca-Cola system’s digital and technological backbone. Established dedicated digital capabilities across multiple Company operating units, partnered closely with bottlers to align technology roadmaps and drove the adoption of advanced tools—from eB2B platforms to enabling consumer-led innovation and more agile execution across both developed and emerging markets. Broad International Exposure / Emerging Market Experience 30 years of experience in the Coca-Cola system across four continents: Asia, Europe, North America and South America. Deep experience overseeing emerging markets as President, International Development. As Chief Operating Officer, responsible for all of the Company’s operating units worldwide and collaborates closely with bottlers and customers around the globe. Extensive Knowledge of the Company’s Business and/or Industry Since joining the Company in 1996, has held a multitude of operational roles within the Coca-Cola system. | |

  20. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 16 | 2026 Proxy Statement |

  21. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  22. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | CHRISTOPHER C. DAVIS AGE: 60 | INDEPENDENT DIRECTOR SINCE: 2018 COMMITTEES: Audit; Finance (Chair); Executive | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Davis Selected Advisers, L.P. (referred to jointly with Davis Selected Advisers–NY, Inc., its registered investment advisory subsidiary, as “Davis Advisors”), an independent investment management firm that oversees approximately $23 billion in assets, including exchange-traded funds (ETFs), mutual funds, variable annuities and separately managed accounts ● Chairman (since 1997) ● Portfolio manager of the firm’s flagship funds, Davis New York Venture Fund and Selected American Shares (since 1995) | Current Public Company Boards: ● Berkshire Hathaway Inc. (since 2021) ● Graham Holdings Company (since 2006) Current Boards for Registered Companies (Investment Company Act of 1940): ● Selected Funds (consisting of two portfolios) (since 1998) ● Davis Funds (consisting of 13 portfolios) (since 1997) ● Trustee of Clipper Funds Trust (consisting of one portfolio) (since 2014) Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience More than 30 years of experience in investment management and securities research at Davis Advisors. Also serves as a portfolio manager for the Davis Large Cap Value Portfolios and a member of the research team for other portfolios. Relevant Senior Leadership / Chief Executive Officer Experience Serves as Chairman of Davis Advisors and as a director and officer of several mutual funds advised by Davis Advisors as well as other entities controlled by Davis Advisors. Marketing Experience Under the leadership of Mr. Davis, Davis Advisors is widely recognized as a premier investment manager serving individual investors worldwide, identifying investment opportunities both within and outside the United States in developed and developing markets and providing investors access to these investment opportunities. Broad International Exposure / Emerging Market Experience Under the leadership of Mr. Davis, Davis Advisors seeks investment growth opportunities and diversification potential that international companies in both developed and developing markets provide. Risk Oversight/Management Expertise Extensive experience evaluating strategic investments and transactions and managing risk against the volatility of equity markets during his more-than-30-year career at Davis Advisors. Serves on the Audit Committees of Graham Holdings Company and Berkshire Hathaway Inc. | |

  23. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 17 | 2026 Proxy Statement |

  24. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  25. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | CAROLYN EVERSON AGE: 54 | INDEPENDENT DIRECTOR SINCE: 2022 COMMITTEES: Talent and Compensation (Chair); Finance | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Permira, a global investment firm ● Senior Advisor (since January 2023) Boston Consulting Group (“BCG”), a global consulting firm ● Senior Advisor (since September 2023) Instacart, a leading grocery technology company in North America ● President (September 2021 to December 2021) Facebook, Inc. (now Meta Platforms, Inc.) (“Facebook”), a social media and social networking service ● Vice President, Global Business Solutions (2011 to 2021) | Current Public Company Boards: ● Under Armour, Inc. (since 2023) ● The Walt Disney Company (since 2022) Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | Marketing Experience Extensive experience and understanding of marketing and innovation strategies, including with consumer packaged goods companies. At Instacart, oversaw its Retail, Business Development and Advertising businesses. At Facebook, led the global marketing solutions team focused on top strategic accounts and global agencies and oversaw media strategy, advertising sales and account management. At Microsoft Corporation, led the advertising business across Bing, MSN, Windows Live, Mobile, Gaming Atlas and the Microsoft Media Network. Former director of Creative Artists Agency. Innovation/Digital and Technology Experience Extensive experience in senior operating roles in consumer-facing technology and media companies. At MTV Networks Company, oversaw strategic planning and was responsible for its Direct Response businesses. Senior Advisor in the technology, media and telecom practice areas at BCG. Serves as a director of Unitary Ltd., a U.K.-based company building multimodal artificial intelligence to understand content in context, accurately and at scale, and as a director at Viam, Inc., a company that uses an engineering platform to leverage data, the cloud and artificial intelligence to help companies build solutions across all industries. Also serves as a director of Squarespace, Inc., a website building and hosting company. Broad International Exposure / Emerging Market Experience Extensive experience leading at-scale, global consumer technology teams with a focus on growing global partnerships, global agencies and industry-leading business development. Member of the Council on Foreign Relations and member of the 2017 Class of Henry Crown Fellows within the Aspen Global Leadership Network at the Aspen Institute. Risk Oversight/Management Expertise Senior Advisor at Permira, a global investment firm focused on the technology, consumer, healthcare and services sectors. Extensive experience overseeing risk associated with leading the development of business, marketing and innovation strategies at Facebook, Microsoft Corporation and MTV Networks Company. Serves on the Audit Committee of Under Armour, Inc. Sustainability Experience Served as Chair of We Day, New York, which encourages and supports young people who are creating transformational social change. At Facebook, oversaw the development of an employee program that prioritized overall well-being to improve employee engagement and performance. | |

  26. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 18 | 2026 Proxy Statement |

  27. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  28. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | THOMAS S. GAYNER AGE: 64 | INDEPENDENT DIRECTOR SINCE: 2023 COMMITTEES: Finance | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Markel Group Inc. (“Markel”), a holding company comprised of diverse businesses, including specialty insurance, and investments ● Chief Executive Officer (since January 2023) ● Co-Chief Executive Officer (January 2016 to December 2022) ● President and Chief Investment Officer (May 2010 to December 2015) ● Chief Investment Officer (January 2001 to May 2010) | Current Public Company Boards: ● Markel Group Inc. (since 2016) ● Graham Holdings Company (since 2007) Previous Public Company Boards (Past Five Years): ● Cable One, Inc. (2015 to 2023) ● Colfax Corporation (2008 to 2022) Previous Boards for Registered Companies (Investment Company Act of 1940): ● Davis Funds (consisting of 13 portfolios) (2004 to 2025) | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Extensive experience in public company financial reporting, accounting and financial control matters and analysis and implementation of strategic investment initiatives, including allocation of capital, acquired in his various roles with Markel since 1990. Prior to joining Markel, served as a certified public accountant at PricewaterhouseCoopers LLP and as Vice President of Davenport & Company LLC of Virginia, a wealth management and financial advisory services firm. Serves as Chairman of the Audit Committee and serves on the Finance Committee of Graham Holdings Company. Relevant Senior Leadership / Chief Executive Officer Experience Significant senior leadership experience at Markel, including as Chief Executive Officer and previously as Co-Chief Executive Officer, President and Chief Investment Officer. Marketing Experience Oversaw the evolution of Markel to a global Fortune 500 family of companies and investments that provide diverse income streams and access to a wide range of investment opportunities. Broad International Exposure / Emerging Market Experience Under the leadership of Mr. Gayner, Markel markets and underwrites specialty insurance products on a global basis. Risk Oversight/Management Expertise Over 30 years of risk oversight and management experience at Markel, which markets and underwrites specialty insurance products on a risk-bearing basis. Director of Markel from 1998 to 2004, and since August 2016. Member of the Investment Advisory Committee of the Virginia Retirement System, an independent state agency that is responsible for monitoring investments and investment opportunities and making asset allocation recommendations. Additional risk oversight experience as Chairman of the Audit Committee and member of the Finance Committee of Graham Holdings Company, and through former service on the Audit Committee of Colfax Corporation. | |

  29. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 19 | 2026 Proxy Statement |

  30. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  31. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | MAX LEVCHIN AGE: 50 | INDEPENDENT DIRECTOR SINCE: 2025 COMMITTEES: Talent and Compensation | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Affirm Holdings, Inc. (“Affirm”), a consumer financial services company with a technology-driven payment network ● Founder, Chairman of the Board and Chief Executive Officer (since 2012) Glow, Inc., a data-driven fertility technology company ● Co-founder and Chairman (since 2013) HVF Labs, a fintech start-up innovation studio ● Founder and Chief Executive Officer (since 2012) | Current Public Company Boards: ● Affirm Holdings, Inc. Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Extensive entrepreneurial leadership and operational and financial experience across the technology and financial technology sectors acquired as an active angel investor and founder of several technology companies. Relevant Senior Leadership / Chief Executive Officer Experience Extensive leadership experience as Chairman and Chief Executive Officer of Affirm and Chief Executive Officer of HVF Labs. Innovation/Digital and Technology Experience Extensive experience developing social, mobile and internet technologies. Founder, Chairman and Chief Executive Officer of Affirm. Co-founder and Chairman of Glow, Inc. Founder and Chief Executive Officer of Slide, Inc., a personal media-sharing service for social networking sites that was acquired by Google Inc. in 2010. Co-founded PayPal, Inc., an online payment company, where he served as Chief Technology Officer from its founding until its sale to eBay Inc. in 2003. Founded NetMeridian Software, a developer of early palm-top security applications, in 1996. Served on the board of directors of Yahoo! Inc., an internet search company, from December 2012 to December 2015, and Yelp Inc., a consumer internet company that he helped create, from September 2004 until July 2015. Co-creator of the Gausebeck-Levchin test, one of the first commercial implementations of anti-fraud technology CAPTCHA. Governmental or Geopolitical Expertise Experience with extensive regulation under U.S. federal law and the laws of Canada and the U.K. as Chief Executive Officer of Affirm. Member of the U.S. Consumer Financial Protection Bureau’s Consumer Advisory Board from 2015 to 2018, charged with identifying and assessing the impact of emerging products, practices, or services on consumers and other market participants; informing the Bureau about emerging practices or trends in the consumer finance industry; and providing analysis and recommendations. Risk Oversight/Management Expertise Over 25 years of experience managing payments, identity, cybersecurity and other types of risk, largely through technology, predictive analytics and process design. Extensive oversight experience as a founder of, investor in, and adviser to numerous emerging technology companies. Co-founder and general partner at SciFi VC, an early-stage venture firm focused on fintech, artificial intelligence and science. | |

  32. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 20 | 2026 Proxy Statement |

  33. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  34. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | AMITY MILLHISER AGE: 62 | INDEPENDENT DIRECTOR SINCE: 2023 COMMITTEES: Audit (Chair) | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | PricewaterhouseCoopers LLP (“PwC”), an international professional services firm operating under the PwC brand ● Vice Chair (2015 to June 2023) ● Chief Clients Officer and Member of U.S. Leadership Team (2015 to 2020) ● Market Managing Partner of Silicon Valley Practice (2011 to 2015) ● Partner (1995 to June 2023) | Current Public Company Boards: ● None Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Extensive experience as a certified public accountant. Joined PwC in 1985 in Assurance and was a partner from 1995 to June 2023. As a senior leader for over 15 years on many of PwC’s most significant clients across diverse industries, regularly engaged with members of company management, boards and audit committees on strategic, financial reporting, auditing, and regulatory and governance matters. Relevant Senior Leadership / Chief Executive Officer Experience As Vice Chair at PwC from 2015 to June 2023, led Trust and Consulting practice development and service delivery for clients ranging from high-growth startups to market-leading multinationals. As Chief Clients Officer and member of PwC’s U.S. Leadership Team from 2015 to 2020, was responsible for markets, sectors and key clients across the U.S. firm. Market Managing Partner of PwC’s Silicon Valley practice from 2011 to 2015. Innovation/Digital and Technology Experience As Chief Clients Officer at PwC, launched cross-functional services including cloud and digital, transformation and cybersecurity risk. While leading PwC’s Silicon Valley practice, worked with leading technology companies as they innovated, scaled and raised capital. Broad International Exposure / Emerging Market Experience Served on PwC’s Global Network Strategy Group, which defined PwC’s global strategy for 2020. While based in Switzerland for 17 years, founded PwC’s Switzerland-based Transaction Services Practice, a Center of Excellence for U.S./European cross-border deals, and worked with companies and their advisors on acquisition support, deal structuring, diligence execution, integration, complex carve-outs, divestitures, spin-offs, capital markets transactions and initial public offerings in the technology, pharmaceuticals, consumer and industrial products industries. Risk Oversight/Management Expertise Extensive risk oversight and management experience associated with various leadership roles during more than 35 years of experience at PwC, including client risk management; risk/crisis management across U.S. geographies; and reputational, financial and regulatory risk management. | |

  35. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 21 | 2026 Proxy Statement |

  36. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  37. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | JAMES QUINCEY AGE: 61 | CHAIRMAN DIRECTOR SINCE: 2017 CHAIRMAN SINCE: 2019 COMMITTEES: Executive (Chair) | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | The Coca-Cola Company ● Chief Executive Officer (since May 2017); effective March 31, 2026, will step down as Chief Executive Officer and transition to Executive Chairman ● President (August 2015 to December 2018) ● Chief Operating Officer (August 2015 to April 2017) ● President of the Europe Group (January 2013 to August 2015) ● President of the Northwest Europe and Nordics business unit (October 2008 to January 2013) ● President of the Mexico Division (December 2005 to October 2008) ● President of the South Latin Division (December 2003 to December 2005) ● Joined the Company as Director, Learning Strategy for the Latin America Group, and went on to serve in a series of operational roles of increasing responsibility in Latin America (1996) | Current Public Company Boards: ● Pfizer Inc. (since 2020) Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Extensive strategic and financial experience acquired through various leadership positions in the Company, managing complex financial transactions, mergers and acquisitions, business strategy and international operations. Relevant Senior Leadership / Chief Executive Officer Experience Chief Executive Officer of the Company since May 2017 and Chairman of the Board since April 2019. Previously served as President and Chief Operating Officer of the Company and as President of the Company’s Europe Group. Innovation/Digital and Technology Experience As CEO, has overseen the deployment of generative artificial intelligence technologies to supplement how the Company’s products are developed and brought to market and to help drive the Company’s marketing and digital transformation. As President of the Europe Group, implemented innovative strategies to improve the Company’s execution and brand portfolio. During his tenure in Latin America, was instrumental in developing and executing a successful brand, pack, price and channel strategy, which has now been replicated in various forms throughout the Company’s global system. Broad International Exposure / Emerging Market Experience Over 25 years of Coca-Cola system experience, including extensive experience in international markets, such as Latin America and Europe. Member of the Board of Directors of the Special Olympics, the US-China Business Council, the Consumer Goods Forum and Pfizer Inc. Extensive Knowledge of the Company’s Business and/or Industry Since joining the Company in 1996, has held a multitude of operational roles within the Coca-Cola system, including as Chairman of the Board, Chief Executive Officer, President, and Chief Operating Officer. | |

  38. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 22 | 2026 Proxy Statement |

  39. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  40. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | CAROLINE J. TSAY AGE: 44 | INDEPENDENT DIRECTOR SINCE: 2018 COMMITTEES: Audit | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Technology Company Advisor / Limited Partner of Venture Capital Funds (since December 2022) Compute Software, Inc., an enterprise cloud optimization software company ● Chief Executive Officer and Director (2017 to 2022) Hewlett Packard Enterprise Company (“HPE”), an information technology company ● Vice President and General Manager of Software (2013 to 2016) Yahoo! Inc., a digital media company ● Held several product leadership positions across the consumer search, e-commerce and advertising businesses (2007 to 2013) | Current Public Company Boards: ● Morningstar, Inc. (since 2017) ● NICE Ltd. (since 2025) ● Semrush Holdings, Inc. (since 2025) Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience Provided strategic direction and managed profit and loss as Chief Executive Officer of Compute Software, Inc. and, in her position at HPE, was responsible for growing enterprise software sales. Relevant Senior Leadership / Chief Executive Officer Experience Served as Chief Executive Officer of Compute Software, Inc. and served as Vice President and General Manager of Software at HPE. Marketing Experience At Compute Software, Inc., was responsible for developing an enterprise software platform for customers running on the cloud. At HPE, was responsible for engaging customers and partners through several new digital experiences, digital marketing and specialized sales models to drive growth in new customers and revenue. At Yahoo! Inc., held leadership positions across the consumer search, e-commerce and advertising businesses. Innovation/Digital and Technology Experience Advises technology companies. At Compute Software, Inc., was responsible for developing the artificial intelligence and decision-sciences-based software platform that dynamically optimizes cloud resource decisions and maximizes business value for companies running on the cloud. At HPE, created a new business and platform for offering customers enterprise software, including DevOps, Cybersecurity, Big Data and Application Development software. At Yahoo! Inc., was Senior Director of Product Management for Yahoo! Search and E-Commerce. Prior to Yahoo! Inc., spent three years at International Business Machines Corporation as a senior consultant focused on providing supply chain solutions to clients in the retail, high tech, and travel industries. Risk Oversight/Management Expertise Extensive experience overseeing risk associated with the development and growth of enterprise software and consumer internet businesses at Compute Software, Inc., and in her product leadership roles with HPE and Yahoo! Inc. Risk oversight experience through service on the Audit Committee of Morningstar, Inc. and as Chair of the Business Advisory Committee at Rosetta Stone Inc. Assesses risk as a limited partner of venture capital funds. | |

  41. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 23 | 2026 Proxy Statement |

  42. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  43. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | | DAVID B. WEINBERG AGE: 74 | INDEPENDENT DIRECTOR SINCE: 2015 LEAD INDEPENDENT DIRECTOR SINCE: 2024 COMMITTEES: Audit; Corporate Governance and Sustainability; Executive | | CAREER HIGHLIGHTS | PUBLIC BOARD MEMBERSHIPS | | Judd Enterprises, Inc., a private, investment management office with diverse interests in a variety of asset classes ● Chairman and Chief Executive Officer (since 1996) Digital Bandwidth LLC, a private, early-stage technology investing affiliate of Judd Enterprises, Inc. ● President (since 1996) Mayer, Brown & Platt (now Mayer Brown), a leading international law firm ● Partner in the corporate, securities and investment management practice (1989 to 1996) | Current Public Company Boards: ● None Previous Public Company Boards (Past Five Years): ● None | | KEY QUALIFICATIONS AND EXPERIENCES | | | High Level of Strategic and Financial Experience In his position at Judd Enterprises, Inc., oversees substantial assets in a wide variety of asset classes. Significant experience in reviewing financial statements as an investor and as a securities lawyer when structuring transactions. Serves on the Investment Committee of the Board of Trustees of Northwestern University. Relevant Senior Leadership / Chief Executive Officer Experience Since 1996, has served as Chairman and Chief Executive Officer of Judd Enterprises, Inc. and President of Digital Bandwidth LLC. Innovation/Digital and Technology Experience Extensive entrepreneurial experience at Digital Bandwidth LLC, overseeing investments in early-stage companies focusing on technologies, including wireless networks, speech recognition, cybersecurity and radio frequency identification tags. Broad International Exposure / Emerging Market Experience At Judd Enterprises, Inc., oversees international investments. As a partner of the Mayer, Brown & Platt law firm, structured cross-border investment management transactions. Serves on the Investment Committee of the Board of Trustees of Northwestern University, overseeing substantial exposure to emerging markets. Exposure to international issues as a member of the Council on Foreign Relations and the International Council of the Belfer Center for Science and International Affairs of the Kennedy School of Government at Harvard University. Served for eight years on the Board of Trustees of the Brookings Institution, a think tank whose mission includes improving governance at the global level, and co-chaired its foreign policy leadership council. Risk Oversight/Management Expertise Extensive risk oversight and management experience overseeing a private investment management office at Judd Enterprises, Inc. As a partner of the Mayer, Brown & Platt law firm, advised clients on a broad range of regulatory and transactional matters. Additional risk oversight experience through former service on the Executive, Audit and Finance Committees and current service on the Investment Committee of the Board of Trustees of Northwestern University. | |

  44. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | The Coca-Cola Company | 24 | 2026 Proxy Statement |

  45. BIOGRAPHICAL INFORMATION ABOUT OUR DIRECTOR NOMINEES

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  46. DIRECTOR COMPENSATION

    DIRECTOR COMPENSATION The Corporate Governance and Sustainability Committee is responsible for reviewing and making recommendations to the Board regarding all matters pertaining to compensation paid to Directors for Board, Lead Independent Director, committee and committee chair service. Director compensation is provided under The Coca-Cola Company Directors’ Plan (the “Directors’ Plan”). Directors who also serve as employees of the Company do not receive payment for service as Directors. In making non-employee Director compensation recommendations, the Corporate Governance and Sustainability Committee takes various factors into consideration, including, but not limited to, the responsibilities of Directors generally and committee chairs specifically and the form and amount of compensation paid by comparable companies to their directors. The Corporate Governance and Sustainability Committee’s charter also authorizes the Committee to engage consultants or advisors, if and when it deems appropriate, in connection with its review and analysis of Director compensation. The Board reviews the recommendations of the Corporate Governance and Sustainability Committee and determines the form and amount of Director compensation. No changes have been made to Director compensation since 2020.

  47. DIRECTOR COMPENSATION

    | The Coca-Cola Company | 38 | 2026 Proxy Statement |

  48. DIRECTOR COMPENSATION

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  49. 2025 Annual Director Compensation

    2025 Annual Director Compensation

  50. 2025 Annual Director Compensation

    | 1BAnnual Retainers 2BAdditional Compensation $30,000 Lead Independent Director $30,000 Chair of Audit Committee $25,000 Chair of Talent and Compensation Committee 3B$20,000 Chairs of all other Committees | Cash retainers are paid on a quarterly basis. Under the Directors’ Plan, non-employee Directors have the option of deferring all or a portion of their cash compensation into share units that are paid out in cash after leaving the Board. The $200,000 annual equity retainer is credited in deferred share units. The number of share units awarded is equal to the number of shares of Common Stock that could be purchased on the open market for $200,000, or a prorated portion thereof, on April 1 (or the immediately preceding business day if April 1 is not a business day). Share units do not have voting rights but are credited with hypothetical dividends that are reinvested in additional units to the extent dividends on Common Stock are received by shareowners. Share units are paid out in cash on the later of (i) January 15 of the year following the year in which the Director leaves the Board or (ii) six months after the Director leaves the Board. Directors may elect to take their payout in a lump sum or in up to five annual installments. Directors do not receive fees for attending Board or committee meetings. Directors who serve on committees (other than as chair) do not receive additional compensation for committee service. Non-employee Directors are reimbursed for reasonable expenses incurred in connection with Board-related activities. |

  51. 2025 Annual Director Compensation

    | Highlights of Director Compensation Program ● Emphasis on Equity: Aligns the majority of Directors’ compensation with shareowner interests because the value of share units fluctuates up or down depending on the price of our Common Stock. ● Long-Term Focus: Focuses on the long term because share units are not paid until after the Director leaves the Board. ● Market Competitive: In line with peers and equitable based on the work required of directors serving at an entity of the Company’s size and scope. ● No Fees: No fees are paid for Board or committee meeting attendance. ● Stock Ownership Requirements: Since share units are not paid out until after the Director leaves the Board, all Directors hold their annual equity retainers until after retirement from Board service. As a result, after only three years of service, all Directors maintain an equity ownership level of at least five times the annual cash retainer. |

  52. 2025 Annual Director Compensation

    | The Coca-Cola Company | 39 | 2026 Proxy Statement |

  53. 2025 Annual Director Compensation

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  54. 2025 Annual Director Compensation

    The following table details the total compensation of the Company’s non-employee Directors for the year ended December 31, 2025.

  55. 2025 Director Compensation Table

    2025 Director Compensation Table

  56. 2025 Director Compensation Table

    | | | | | | Change in | | | | | | | | | Pension Value | | | | | | | | | and Nonqualified | | | | | Fees | | | Non-Equity | Deferred | | | | | Earned or | Stock | Option | Incentive Plan | Compensation | All Other | | | | Paid in Cash | Awards | Awards | Compensation | Earnings | Compensation | Total | | Name(1) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | | (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | | Herb Allen | $110,000 | $200,000 | $0 | $0 | $0 | $1,229 | $311,229 | | Bela Bajaria | 90,000 | 200,000 | 0 | 0 | 0 | 1,169 | 291,169 | | Ana Botín | 90,000 | 200,000 | 0 | 0 | 0 | 380 | 290,380 | | Christopher C. Davis | 110,000 | 200,000 | 0 | 0 | 0 | 8,655 | 318,655 | | Carolyn Everson | 115,000 | 200,000 | 0 | 0 | 0 | 21,216 | 336,216 | | Thomas S. Gayner | 90,000 | 200,000 | 0 | 0 | 0 | 1,169 | 291,169 | | Maria Elena Lagomasino | 90,000 | 200,000 | 0 | 0 | 0 | 16,811 | 306,811 | | Max Levchin(2) | 36,000 | 80,000 | 0 | 0 | 0 | 508 | 116,508 | | Amity Millhiser | 120,000 | 200,000 | 0 | 0 | 0 | 17,439 | 337,439 | | Caroline J. Tsay | 90,000 | 200,000 | 0 | 0 | 0 | 10,402 | 300,402 | | David B. Weinberg | 120,000 | 200,000 | 0 | 0 | 0 | 3,680 | 323,680 |

  57. 2025 Director Compensation Table

    | (1) Mr. Quincey is a Company employee and therefore receives no compensation under the Directors’ Plan. |

  58. 2025 Director Compensation Table

    | (2) Mr. Levchin joined the Board on October 16, 2025. Therefore, the information reflects his service on the Board following such appointment. |

  59. DIRECTORS AND EXECUTIVE OFFICERS

    DIRECTORS AND EXECUTIVE OFFICERS The following table sets forth information regarding beneficial ownership of Common Stock by each Director, each Director nominee, each individual named in the 2025 Summary Compensation Table on page 64, and our Directors, Director nominees and executive officers as a group, all as of March 2, 2026. Unless otherwise noted, voting power and investment power in Common Stock are exercisable solely by the named person.

  60. DIRECTORS AND EXECUTIVE OFFICERS

    | | Aggregate | Percent of | | | | Number of Shares | Outstanding | | | Name | Beneficially Owned | Shares(1) | Additional Information | | Herb Allen | 19,282,444 | * | Includes 99,054 shares held by Allen & Company LLC, 6,000,000 shares held by Allen & Company Incorporated over which Mr. Allen has sole voting power, 13,000,000 shares held by two family members over which Mr. Allen has sole voting power, 780 shares held by a family trust of which Mr. Allen is one of two trustees and 20,000 shares held by a foundation of which Mr. Allen is one of two directors. Does not include 18,355 share units deferred under the Directors’ Plan, which are settled in cash. | | Bela Bajaria | 2,100 | * | Shares held by family trust of which Ms. Bajaria is one of two trustees. Does not include 4,368 share units deferred under the Directors’ Plan, which are settled in cash. | | Ana Botín | 2,500 | * | Shares held by a Spanish limited company of which Ms. Botín and her husband are the indirect beneficial owners. Does not include 80,512 share units deferred under the Directors’ Plan, which are settled in cash. | | Christopher C. Davis | 20,000 | * | Does not include 45,780 share units deferred under the Directors’ Plan, which are settled in cash. | | Carolyn Everson | 1,582 | * | Does not include 12,013 share units deferred under the Directors’ Plan, which are settled in cash. | | Thomas S. Gayner | 5,200 | * | Does not include 11,301 share units deferred under the Directors’ Plan, which are settled in cash. | | Maria Elena Lagomasino | 23,631 | * | Does not include 123,353 share units deferred under the Directors’ Plan, which are settled in cash. | | Max Levchin | 14,267 | * | Does not include 1,192 share units deferred under the Directors’ Plan, which are settled in cash. | | Amity Millhiser | 400 | * | Shares held by a living trust of which Ms. Millhiser is sole trustee. Does not include 11,902 share units deferred under the Directors’ Plan, which are settled in cash. | | Caroline J. Tsay | 1,104 | * | Shares held by a living trust of which Ms. Tsay is sole trustee. Does not include 35,334 share units deferred under the Directors’ Plan, which are settled in cash. | | David B. Weinberg | 9,248,693 | * | Includes 1,684,210 shares held by family members over which Mr. Weinberg has sole dispositive power. Also includes 3,000,000 shares held by three family trusts, of which Mr. Weinberg is a current or contingent remainder beneficiary and one of three trustees but over which he also has sole dispositive power. Also includes 12,000 shares held by a family trust, of which Mr. Weinberg is neither a trustee nor a beneficiary but over which he has sole dispositive power. Also includes 3,540,000 shares held by two family limited partnerships, over which Mr. Weinberg has sole investment control and shares beneficial ownership interest. Also includes 115,852 shares held by two foundations, over which Mr. Weinberg shares investment power with other family members but over which he also has sole dispositive power, and 168,729 shares held by two foundations, over which other family members have investment power but over which Mr. Weinberg also has sole dispositive power. Does not include 73,476 share units deferred under the Directors’ Plan, which are settled in cash. | | James Quincey | 4,461,496 | * | Includes 44,678 shares held by a family member, 200 shares of restricted stock, 8,944 shares credited to Mr. Quincey under The Coca-Cola Company 401(k) Plan (the “401(k) Plan”) and 3,879,031 shares that may be acquired upon the exercise of options, which are presently exercisable or that will become exercisable on or before May 1, 2026. Does not include 35,443 share units credited under The Coca-Cola Company Supplemental 401(k) Plan (the “Supplemental 401(k) Plan”), which are settled in cash post employment. | | John Murphy | 1,618,783 | * | Includes 2,407 shares held by a family member, 200 shares of restricted stock, 1,122 shares credited to Mr. Murphy under the 401(k) Plan and 1,335,337 shares that may be acquired upon the exercise of options, which are presently exercisable or that will become exercisable on or before May 1, 2026. Does not include 8,944 share units credited under the Supplemental 401(k) Plan, which are settled in cash post employment. | | Manuel Arroyo | 869,679 | * | Includes 770,165 shares that may be acquired upon the exercise of options, which are presently exercisable or that will become exercisable on or before May 1, 2026. | | Henrique Braun | 643,876 | * | Includes 13,504 shares credited to Mr. Braun under the 401(k) Plan and 529,668 shares that may be acquired upon the exercise of options, which are presently exercisable or that will become exercisable on or before May 1, 2026. Does not include 8,962 share units credited under the Supplemental 401(k) Plan, which are settled in cash post employment. | | Jennifer Mann | 673,670 | * | Includes 8,169 shares credited to Ms. Mann under the 401(k) Plan and 458,101 shares that may be acquired upon the exercise of options, which are presently exercisable or that will become exercisable on or before May 1, 2026. Does not include 8,636 share units credited under the Supplemental 401(k) Plan, which are settled in cash post employment. | | All Directors, Director nominees and executive officers as a group (22 persons) | 38,886,151 | * | Includes 400 shares of restricted stock, 74,252 shares credited under the 401(k) Plan and 8,262,901 shares that may be acquired upon the exercise of options, which are presently exercisable or that will become exercisable on or before May 1, 2026. Does not include 95,483 share units credited under the Supplemental 401(k) Plan and 417,586 share units deferred under the Directors’ Plan, all of which will be settled in cash. |

  61. DIRECTORS AND EXECUTIVE OFFICERS

    | * Less than 1% of outstanding shares of Common Stock. |

  62. DIRECTORS AND EXECUTIVE OFFICERS

    | (1) Share units credited under the Directors’ Plan and the Supplemental 401(k) Plan are not included as outstanding shares in calculating these percentages. |

  63. DIRECTORS AND EXECUTIVE OFFICERS

    | The Coca-Cola Company | 44 | 2026 Proxy Statement |

  64. DIRECTORS AND EXECUTIVE OFFICERS

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  65. 2025 Pay for Performance

    2025 Pay for Performance In 2025, the Committee set annual incentive targets at the midpoint of the Company’s publicly stated long-term growth plan, consistent with our historical approach and our commitment to aligning our executives’ interests with those of our shareowners. As shown in the charts below, performance under the annual incentive program met or exceeded both the long-term growth plan and the targets we set, resulting in above-target annual incentive payouts for our executives. For more information, see page 54.

  66. 2025 Pay for Performance

    | * Organic revenues is a non-GAAP financial measure that excludes or has otherwise been adjusted for the impact of acquisitions and divestitures, as applicable, and the impact of fluctuations in foreign currency exchange rates. Organic revenue (non-GAAP) growth is referred to as “net operating revenue growth” in our annual incentive program. Comparable currency neutral operating income is a non-GAAP financial measure that excludes or has otherwise been adjusted for items impacting comparability and the impact of fluctuations in foreign currency exchange rates. Comparable currency neutral operating income (non-GAAP) growth, further adjusted for structural changes, is referred to as “operating income growth” in our annual incentive program. These further structural adjustments to comparable currency neutral operating income (non-GAAP) growth resulted in 14% growth as measured under the annual incentive program for “operating income growth.” See Annex C on page 109 for reconciliations of non-GAAP financial measures to our results as reported under GAAP. For more information on the non-GAAP financial measures chosen by the Committee for our Named Executive Officers’ compensation programs, see page 53. |

  67. 2025 Pay for Performance

    With respect to long-term incentives, performance under the 2023-2025 PSU program reflects the strong momentum the Company has built over the past several years. All financial performance measures in the PSU program exceeded the maximum performance levels. Our sustainability measures reflected threshold performance or below. As a result, the 2023-2025 PSU program delivered an above-target payout. In addition, the relative TSR modifier was applied for the performance period, as the Company’s TSR ranked above the 75th percentile of its TSR comparator group. For more information, see page 56.

  68. Talent and Compensation Committee Year-Round Process

    | ● | Annual incentive awards reported for 2025 were decided in February 2026 and reflect performance throughout 2025 against targets and goals set in February 2025; and |

  69. Talent and Compensation Committee Year-Round Process

    | ● | Long-term incentive awards reported for 2025 were granted in February 2025, with vesting over a three- to four-year period, and are designed to incentivize and reward the individual’s potential to drive future growth for the Company. |

  70. Talent and Compensation Committee Year-Round Process

    | JANUARY - MARCH | | APRIL - JUNE | | ● Reviewed overall robustness and rigor of performance measures and targets ● Finalized performance measures and targets for upcoming performance cycles ● Approved annual and long-term incentive award opportunities for executive officers ● Reviewed key components of talent, leadership and culture strategy | | ● Reviewed results of “say-on-pay” advisory vote ● Conducted shareowner outreach to gather feedback on the “say-on-pay” advisory vote | | | | | | OCTOBER - DECEMBER | | JULY - SEPTEMBER | | ● Reviewed key components related to talent, leadership and culture strategy ● Reviewed risk assessment of compensation programs ● Benchmarked compensation program designs and pay opportunities against the compensation comparator group | | ● Reviewed program designs for the upcoming year ● Evaluated and set compensation comparator group to be used for upcoming year |

  71. ELEMENTS OF EXECUTIVE COMPENSATION

    | | Element | Form | Key Features | | | Base Salary | Cash | Fixed cash compensation based on the market-competitive value of the skills and knowledge required for each role. Base salary is reviewed and adjusted when appropriate to maintain market competitiveness. Increases in base salary are not automatic or guaranteed. | | Performance-Based | Annual Incentive | Cash | Variable cash compensation designed to reward results from the prior year. The 2025 annual incentive program is based on the following: ● Company and operating unit financial measures (net operating revenue growth and operating income growth) ● Individual performance | | | Long-Term Incentive | Stock Options | Equity awards designed to motivate executives and reward potential to drive long-term growth, as well as to align the interests of employees with those of shareowners. Grants for Named Executive Officers are awarded in the form of stock options and PSUs. Performance measures for the PSUs granted in 2025 were as follows: ● Net operating revenue growth ● EPS growth ● Free cash flow ● Relative TSR modifier | | | | Performance Stock Units (PSUs) | |

  72. Annual Incentive Compensation

    Annual Incentive Compensation Annual cash incentives are determined under the Annual Incentive Plan and are designed to reward annual performance and individual contributions that support business results and strategy. Awards for our Named Executive Officers are determined based on a formula with predefined financial measures (the “Business Performance Factor”), aligned with the Company’s long-term growth strategy, as well as each executive’s individual performance (the “Individual Performance Amount”).

  73. Annual Incentive Compensation

    | BASE SALARY | | TARGET PERCENTAGE | | BUSINESS PERFORMANCE FACTOR | | INDIVIDUAL PERFORMANCE AMOUNT | | ANNUAL INCENTIVE AMOUNT |

  74. Business Performance Factor

    Business Performance Factor Actual awards under the Annual Incentive Plan for the Named Executive Officers are primarily driven by the Business Performance Factor, which follows a formulaic calculation utilizing financial performance targets determined at the outset of the performance period. The Committee selects financial performance measures and targets that it believes are consistent with the Company’s strategic goals and which are designed to be challenging but achievable. For 2025, the Committee selected net operating revenue growth and operating income growth as the financial performance measures used to determine the Business Performance Factor. Historically, our philosophy in determining appropriate annual incentive targets has been to set targets at the midpoint of the Company’s publicly stated long-term growth plan of 4% to 6% for organic revenue (non-GAAP) growth and 6% to 8% for comparable currency neutral operating income (non-GAAP) growth. This aligns our compensation programs to our investors’ growth and value creation expectations. Consistent with this practice, for 2025, the Committee set the targets at the midpoint of the Company’s long-term growth plan for both metrics. For Messrs. Quincey, Murphy, Arroyo and Braun, the Committee approved a Business Performance Factor design that was weighted 50% for overall Company net operating revenue growth and 50% for overall Company operating income growth (together, “Overall Company Performance”). For Ms. Mann, who had responsibility for the Company’s North America operating unit (“NAOU”) in 2025, the Committee approved a Business Performance Factor design that was weighted 2/3 for Overall Company Performance and 1/3 for the performance of the NAOU, measured by the net operating revenue growth and operating income growth of the NAOU, each weighted equally. Actual net operating revenue and operating income growth results were rounded to the nearest half percent. The payout for each performance measure was then weighted to determine the final Business Performance Factor. For 2025, the Business Performance Factor could range from 0% to 200% of the target incentive: a minimum threshold must have been achieved, and the maximum performance level was set to be difficult.

  75. Business Performance Factor

    | ** Net operating revenue growth, as outlined in our annual incentive program, is organic, which is a non-GAAP financial measure that excludes or has otherwise been adjusted for the impact of acquisitions, divestitures and structural changes, as applicable, and the impact of fluctuations in foreign currency exchange rates. Operating income growth, as outlined in our annual incentive program, is comparable currency neutral (adjusted for structural changes), which is a non-GAAP financial measure that excludes or has otherwise been adjusted for items impacting comparability, the impact of fluctuations in foreign currency exchange rates, and the impact of structural changes, as applicable. Items impacting comparability include asset impairments, transaction gains/losses, restructuring and other items, and certain tax matters. Structural changes generally refer to acquisitions and divestitures of bottling operations, including the impact of intercompany transactions between our operating segments. Operating income growth of 14%, as measured under our annual incentive program, differs from comparable currency neutral operating income (non-GAAP) growth of 13% (see page 48) due to adjustments for these structural changes. Using these adjusted measures of net operating revenue growth and operating income growth is appropriate because they provide a more consistent comparison against the prior year. |

  76. Business Performance Factor

    | * Effective March 31, 2026, (i) in connection with Mr. Quincey’s transition to Executive Chairman of the Board, his base salary will be $1,200,000 and his target annual incentive will remain 200%; and (ii) in connection with Mr. Braun’s appointment to Chief Executive Officer of the Company, his base salary will be $1,450,000 and his target annual incentive will be 200%. |

  77. Individual Performance Amount

    Individual Performance Amount For the Individual Performance Amount, the Committee considers each Named Executive Officer’s individual contributions to overall Company results and operational measures, achievement of key strategic objectives and contributions toward evolving the Company’s organization and culture. An Individual Performance Amount may be awarded based on an assessment of an executive’s individual performance throughout the year, as guided by the individual’s scorecard. The scorecard provides a framework to clearly define specific action items in support of the Company’s key objectives. The maximum percentage of an individual’s target award that could have been awarded for individual performance in 2025 was 30%. No Named Executive Officer received an Individual Performance Amount for 2025.

  78. Long-Term Incentive Compensation

    Long-Term Incentive Compensation The Company’s long-term incentive compensation programs are designed to reward performance over the longer term and align the interests of employees with those of shareowners. In 2025, all long-term incentive awards were equity-based for our Named Executive Officers.

  79. Long-Term Incentive Awards: Amounts and Performance Measures

    Long-Term Incentive Awards: Amounts and Performance Measures The Committee sets awards for long-term incentive compensation at the executive officer level. In 2025, these awards were informed by market survey data and the pay practices of our compensation comparator group. The Committee does not target a specific percentile ranking against our compensation comparator group and may grant long-term incentive awards based on a variety of factors, including individual performance and to reflect support of the larger Coca-Cola system. Once the value of the 2025 long-term incentive award was determined, the Committee granted the long-term incentive award to our executive officers as a combination of PSUs, with a three-year performance and vesting period, and stock options, with a four-year pro rata vesting period. The Committee determined that PSUs and stock options, rather than RSUs, were the most appropriate equity vehicles for our executive officers, as they put a greater portion of total compensation at risk if the Company does not deliver growth to its shareowners. Due to the rules governing how the grant date fair value of long-term incentive awards must be calculated for GAAP purposes, the 2025 Summary Compensation Table may not reflect the same PSU and stock option values described below.

  80. How PSU Amounts and Targets Were Determined

    How PSU Amounts and Targets Were Determined

  81. How PSU Amounts and Targets Were Determined

    | ● | To determine the number of PSUs awarded, the target dollar value of the PSU grant was divided by a 30-day average closing stock price. |

  82. How PSU Amounts and Targets Were Determined

    | ● | For PSU awards granted in 2025, performance measures were equally weighted among net operating revenue growth, earnings per share growth and free cash flow. Performance targets for growth in these measures were derived from our long-term growth plan and set by the Committee after a detailed review, which included benchmarking performance and evaluating the practices of comparator companies. |

  83. How PSU Amounts and Targets Were Determined

    | ● | For PSU awards granted in 2025, participants would receive 50% of the award at the threshold level of performance per measure, 100% of the award at the target level of performance per measure and 200% of the award at the maximum level of performance per measure, prior to application of the relative TSR modifier. |

  84. PSU Relative TSR Modifier

    PSU Relative TSR Modifier

  85. PSU Relative TSR Modifier

    | ● The number of shares earned from PSU awards will be reduced or increased if TSR over the performance period, relative to a predefined TSR comparator group, falls outside of a predefined range. Specifically, after the performance results are certified, the award will be modified up or down as shown in the graphic to the right, if applicable. ● For awards granted in 2023 and after, the TSR comparator group is comprised of the companies listed in the S&P 500 Consumer Staples Index. ● If there is no change to the PSU payout because the relative TSR modifier is not applicable, PSU payouts can range from 0% to 200%. If the threshold level or greater is achieved for each of the performance measures, and if the relative TSR modifier is applicable, PSU payouts can range from 38% to 250%. | |

  86. PSU Relative TSR Modifier

    | The Coca-Cola Company | 55 | 2026 Proxy Statement |

  87. PSU Relative TSR Modifier

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  88. How Stock Option Award Amounts Were Determined

    How Stock Option Award Amounts Were Determined

  89. How Stock Option Award Amounts Were Determined

    | ● | When determining the number of stock options awarded, a Black-Scholes value is calculated, and floor and ceiling “guardrails” are then calculated based on a 30-day average closing stock price. These guardrails help manage our burn rate and mitigate against excessively high or low Black-Scholes values. |

  90. How Stock Option Award Amounts Were Determined

    | ● | For stock option grants in 2025, our floor guardrail, which valued options at 20% of the 30-day average closing stock price, was used to determine the number of stock options to grant by dividing the target dollar value for the grant by this guardrail value. This resulted in fewer stock options being granted than would have been granted using a pure Black-Scholes model. |

  91. 2025 Long-Term Incentive Awards

    2025 Long-Term Incentive Awards The Committee approved the below long-term incentive awards for the Named Executive Officers in February 2025. For Messrs. Quincey, Murphy and Braun, the Committee allocated the value of the long-term incentive awards equally between PSUs and stock options. All other employees eligible for long-term incentive awards, including Mr. Arroyo and Ms. Mann, were given the opportunity to elect the allocation of their long-term incentive award within predefined parameters. In line with their respective elections, the Committee allocated the value of the long-term incentive awards for Mr. Arroyo as 2/3 PSUs and 1/3 stock options, and equally between PSUs and stock options for Ms. Mann.

  92. 2025 Long-Term Incentive Awards

    | | | 2025‑2027 | | | | 2025 Long-Term | Performance | | | | Incentive Award | Share Units | Options | | Name | ($) | (#) | (#) | | Mr. Quincey | $22,868,364 | 172,970 | 864,850 | | Mr. Murphy | 6,913,669 | 52,293 | 261,466 | | Mr. Arroyo | 3,840,114 | 37,540 | 93,878 | | Mr. Braun | 6,913,669 | 52,293 | 261,466 | | Ms. Mann | 5,318,255 | 40,226 | 201,128 |

  93. Status of PSU Programs

    Status of PSU Programs

  94. 2023-2025 PSUs

    2023-2025 PSUs (1) (2) (3) (4) (5)

  95. 2023-2025 PSUs

    | Weighting | Measure | Threshold (50% earned) | | Target (100% earned) | Maximum (200% earned) | Status (as of December 31, 2025) | | | Compound Annual Growth in Net Operating Revenues | 3.0% | | 5.0% | 7.0% | ● Net operating revenue compound annual growth, EPS compound annual growth and cumulative free cash flow were each above the maximum performance level. ● Packaging was below the threshold performance level. Water was at the threshold performance level. ● Company performance resulted in an initial payout calculation of 183%. In addition, the relative TSR modifier was applied, as total shareowner return was above the 75th percentile for the performance period. ● Final payout was certified in February 2026 at 229%. | | 30% | | | | | | | | | | | | | | | | | Compound Annual Growth in EPS | 6.0% | | 8.0% | 10.0% | | | 30% | | | | | | | | | | | | | | | | | Cumulative Free Cash Flow (in billions) | $26.2 | | $30.2 | $34.2 | | | 30% | | | | | | | | | | | | | | | | | Packaging: Global rPET Usage Rate | 22.5% | | 26.5% | 31.0% | | | 5% | | | | | | | | | | | | | | | | | Water: Watershed Leadership Locations Replenishment Rate | 89.1% | | 95.0% | 105.1% | | | 5% | | | | | | | | | | | | | | |

  96. 2023-2025 PSUs

    | The Coca-Cola Company | 56 | 2026 Proxy Statement |

  97. 2023-2025 PSUs

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  98. 2023-2025 PSUs

    (1) (2) (3) (4) (5)

  99. 2023-2025 PSUs

    | Weighting | Measure | Threshold (50% earned) | | Target (100% earned) | Maximum (200% earned) | Status (as of December 31, 2025) | | | Compound Annual Growth in Net Operating Revenues | 3.0% | | 5.0% | 7.0% | ● Payout is projected to be above target. ● Company performance over the remaining year of the performance period will determine the number of shares earned, if any. ● Results will be certified in February 2027, including applying the relative TSR modifier, if applicable. | | 30% | | | | | | | | | | | | | | | | | Compound Annual Growth in EPS | 6.0% | | 8.0% | 10.0% | | | 30% | | | | | | | | | | | | | | | | | Cumulative Free Cash Flow (in billions) | $28.9 | | $32.9 | $36.9 | | | 30% | | | | | | | | | | | | | | | | | Packaging: Global rPET Usage Rate | 23.5% | | 27.5% | 32.0% | | | 5% | | | | | | | | | | | | | | | | | Water: Watershed Leadership Locations Replenishment Rate | 100.0% | | 110.0% | 115.1% | | | 5% | | | | | | | | | | | | | | |

  100. 2025-2027 PSUs

    2025-2027 PSUs (1) (2) (3) (4)

  101. 2025-2027 PSUs

    | Weighting | Measure | Threshold (50% earned) | | Target (100% earned) | Maximum (200% earned) | Status (as of December 31, 2025) | | | Compound Annual Growth in Net Operating Revenues | 3.0% | | 5.0% | 7.0% | ● Payout is projected to be above target. ● Company performance over the remaining two years of the performance period will determine the number of shares earned, if any. ● Results will be certified in February 2028, including applying the relative TSR modifier, if applicable. | | 1/3 | | | | | | | | | | | | | | | | | Compound Annual Growth in EPS | 6.0% | | 8.0% | 10.0% | | | 1/3 | | | | | | | | | | | | | | | | | Cumulative Free Cash Flow (in billions) | $31.8 | | $35.8 | $39.8 | | | 1/3 | | | | | | | | | | | | | | |

  102. 2025-2027 PSUs

    | (1) Participants receive 50% of the award at the threshold level of performance per measure, 100% of the award at the target level of performance per measure and 200% of the award at the maximum level of performance per measure before the application of the TSR modifier. Results are rounded, and the number of shares is extrapolated on a linear basis between performance levels for net operating revenue growth, EPS growth and cumulative free cash flow. For the environmental sustainability performance measures, if applicable, results are rounded, and the number of shares is not extrapolated between performance levels. |

  103. 2025-2027 PSUs

    | (2) The PSU program provides for comparable currency neutral net operating revenue (non-GAAP) growth to be based on a three-year compound annual growth target tied to Company performance. This measure differs from net operating revenue growth reported under GAAP, primarily due to the impact of currency and items impacting comparability. The calculation of comparable currency neutral net operating revenue (non-GAAP) growth for the 2023-2025 period was adjusted, and the 2024-2026 and 2025-2027 periods will be adjusted, to exclude acquisitions, divestitures and structural changes that are significant to the Company as a whole, if applicable. The 2024-2026 and 2025-2027 periods will also be adjusted to exclude the impact of accounting changes, if applicable, and for any unusual items that are significant to the Company as a whole that are approved by the Committee, if applicable. |

  104. 2025-2027 PSUs

    | (3) The PSU program provides for comparable currency neutral EPS (non-GAAP) growth to be based on a three-year compound annual growth target tied to Company performance. This measure differs from EPS reported under GAAP, primarily due to the impact of currency and items impacting comparability. The calculation of comparable currency neutral EPS (non-GAAP) growth for the 2023-2025 period was adjusted, and the 2024-2026 and 2025-2027 periods will be adjusted, to exclude acquisitions, divestitures and structural changes that are significant to the Company as a whole and impacts resulting from the application of the tax court rulings and/or settlements arising from the 2015 Notice of Deficiency, if applicable. The 2024-2026 and 2025-2027 periods will also be adjusted to exclude the impact of accounting changes, if applicable, and for any unusual items that are significant to the Company as a whole that are approved by the Committee, if applicable. |

  105. 2025-2027 PSUs

    | The Coca-Cola Company | 57 | 2026 Proxy Statement |

  106. 2025-2027 PSUs

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  107. 2025-2027 PSUs

    | (4) The PSU program provides for free cash flow (non-GAAP) to be based on a cumulative three-year absolute target amount tied to Company performance. Free cash flow is a non-GAAP financial measure that represents net cash provided by operating activities less purchases of property, plant and equipment. The net income component of net cash provided by operating activities for the 2023-2025 period was adjusted, and the 2024-2026 and 2025-2027 periods will be adjusted, for the impact of currency. Free cash flow (non-GAAP) for the 2023-2025 period was adjusted, and the 2024-2026 and 2025-2027 periods will be adjusted, to exclude acquisitions, divestitures and structural changes that are significant to the Company as a whole and impacts resulting from the application of the tax court rulings and/or settlements arising from the 2015 Notice of Deficiency, if applicable. The 2024-2026 and 2025-2027 periods will be adjusted for the impact of accounting changes and certain cash payments for pension plan contributions, if applicable, and for any unusual items that are significant to the Company as a whole that are approved by the Committee, if applicable. |

  108. 2025-2027 PSUs

    | (5) The PSU program provides for the environmental sustainability performance measure to be equally weighted based on the achievement of predefined goals related to the Company’s water security strategy (watershed leadership locations replenishment rate) and its packaging strategy (global rPET usage rate), both of which strategies were in place for the 2023-2025 period and are expected to be in place for the remainder of the 2024-2026 period. “Watershed leadership locations replenishment rate” is the ratio of replenish project volumetric benefits (located within “leadership locations” minors basins and/or their water supply watersheds) divided by the replenishment required in the “leadership locations” (its total water use less its beneficial wastewater discharge). “Leadership locations” or “high-risk locations” is a Company designation for locations of Coca-Cola system manufacturing facilities that satisfy the criteria of a water risk assessment. “Global rPET usage rate” is defined as the percent of rPET (recycled polyethylene terephthalate) procured for use in our global primary consumer PET packaging (non-refillable PET bottles and refillable PET bottles). The environmental sustainability calculations for the 2023-2025 period were adjusted, and the 2024-2026 period will be adjusted, to exclude acquisitions, divestitures and structural changes that are significant to the Company as a whole, if applicable. The 2024-2026 period will also be adjusted for any unusual items that are significant to the Company as a whole that are approved by the Committee, if applicable. |

  109. Other Long-Term Incentive Awards

    Other Long-Term Incentive Awards The vast majority of equity awards are granted as part of the long-term incentive awards in February of each year; however, the Committee may, during the course of the year, determine to grant additional equity awards, which typically have been limited and in the form of time-based RSUs or performance-based awards. From time to time, we establish additional performance-based programs related to specific performance goals to motivate and reward for specific initiatives. No Named Executive Officer received such an award in 2025.

  110. Policies and Practices Related to the Grant of Certain Equity Awards

    Policies and Practices Related to the Grant of Certain Equity Awards The Company grants equity awards, including stock options. Neither the Board of Directors nor the Talent and Compensation Committee takes material nonpublic information into account when determining the timing or terms of equity awards, nor does the Company time the disclosure of material nonpublic information for the purpose of affecting the value of executive compensation.

  111. Equity Scorecard

    | We adhere to strong equity governance under The Coca-Cola Company 2024 Equity Plan (the “2024 Equity Plan”). We maintain an annual burn rate of 0.4% or less, which provides greater certainty as to the availability of shares used for equity awards. To manage dilution, it is our intention to use the proceeds from stock option exercises by employees to repurchase shares over time, although such proceeds may at times be used for other corporate purposes. As a result, actual dilution is expected to continue to be less than 1% per year. This approach provides us the flexibility to consider share repurchases in the context of our overall capital allocation strategy. The adjacent chart illustrates our historical burn rate. | Historical Burn Rate | | | |

  112. 2025 Equity Scorecard

    | Category | 2025 | | Actual Burn Rate The total number of shares underlying equity awards granted in the year, as a percentage of Common Stock outstanding. | 0.14% | | Actual Dilution A measure of how much the equity issued to employees reduces the value of existing shares.(1) | 0.04% | | Overhang The total number of shares underlying equity awards already granted from the 2024 Equity Plan and other plans in place prior to adoption of the 2024 Equity Plan, plus those available for future grants, on a fully diluted basis. | 5.80% |

  113. Compensation Comparator Group

    Compensation Comparator Group We use a comparator group of companies when making certain compensation decisions. This comparator group is used as a reference point, but compensation paid at other companies is only one factor in the decision-making process. As noted above, our employees operate in the much larger Coca-Cola system, but when comparing size with comparator companies, we utilize only the net operating revenues and market capitalization of the Company. In collaboration with the Committee’s compensation consultant, Meridian Compensation Partners, LLC (“Meridian”), we routinely review the selection criteria and companies in our comparator group. The table below shows our criteria for choosing the compensation comparator group and how such group is used.

  114. Compensation Comparator Group

    | Compensation Comparator Group Considerations | | | | How We Chose the Compensation Comparator Group ● Comparable size to the Company based on net operating revenues and market capitalization ● Major global presence with sales and operations outside of the United States ● Large consumer products business ● Market-leading brands or category positions as defined by Interbrand ● Financially strong companies ● Available compensation data | How We Use the Compensation Comparator Group* ● As an input in developing base salary ranges, annual incentive targets and long-term incentive award ranges ● To evaluate share utilization by reviewing overhang levels and annual burn rate ● To benchmark the form, mix and design of equity incentives awarded to employees ● To benchmark share ownership guidelines ● To assess the competitiveness of total direct compensation awarded to executive officers ● To assess talent and recruitment practices ● To compare Company performance and validate whether executive compensation programs are aligned with Company performance ● As an input in designing compensation plans, benefits and perquisites | | | 2025 Compensation Comparator Group** | | | | ● Abbott Laboratories ● Archer-Daniels-Midland Company ● Colgate-Palmolive Company ● Danone S.A. ● Intel Corporation ● Johnson & Johnson | ● Kimberly-Clark Corporation ● The Kraft Heinz Company ● McDonald’s Corporation ● Mondelēz International, Inc. ● Nestlé S.A. ● NIKE, Inc. | ● PepsiCo, Inc. ● Pfizer Inc. ● Philip Morris International Inc. ● The Procter & Gamble Company ● Starbucks Corporation ● Unilever PLC | | * Since some of the comparator group companies are not U.S.-based, a subgroup of the companies may be used for some purposes when data is not publicly available for the non-U.S.-based companies. ** In 2025, in collaboration with Meridian, the Committee approved the following updates to the compensation comparator group to be effective in 2026: the addition of Anheuser-Busch InBev SA/NV and the removal of Danone S.A. and Intel Corporation. | | |

  115. Role of the Compensation Consultant

    Role of the Compensation Consultant

  116. Compensation Consultant Independence

    Compensation Consultant Independence The Committee is authorized by its charter to employ independent compensation consultants and other advisors. In 2025, the Committee engaged Meridian to serve as its independent consultant with respect to executive compensation programs. Meridian reports directly to the Committee. In accordance with the Committee’s Independent Compensation Consultant Policy (the “ICC Policy”), prior to the retention of a compensation consultant (or any other external advisor), and annually thereafter, the Committee assesses the independence of the compensation consultant. Under the ICC Policy, a consultant is considered independent if:

  117. Compensation Consultant Independence

    | ● | The individual consultant and any consulting firm or organization that employs the consultant are independent of the Company; |

  118. Compensation Consultant Independence

    | ● | The individual consultant does not provide services or products of any kind to the Company or its affiliates or to their management, other than in its capacity as an advisor to the Board and its committees; and |

  119. Compensation Consultant Independence

    | ● | The consulting firm or individual consultant does not provide any other services to the Company without the prior written consent of the Committee. |

  120. Compensation Consultant Independence

    | The Coca-Cola Company | 60 | 2026 Proxy Statement |

  121. Compensation Consultant Independence

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  122. Compensation Consultant Independence

    The Committee assessed Meridian’s independence under the ICC Policy, including considering the following factors specified in the NYSE listing standards: (i) the provision of other services by the consulting firm to the Company; (ii) the amount of fees paid as a percentage of the total revenue of the consulting firm; (iii) the policies and procedures of the consulting firm that are designed to prevent conflicts of interest; (iv) any business or personal relationship of the consultant with a member of the Committee; (v) any stock of the Company owned by the consultant; and (vi) any business or personal relationship of the consultant or consulting firm with an executive officer of the Company. Meridian provided the Committee with confirmation of its independent status under the ICC Policy. Based on this evaluation, the Committee has determined that Meridian met the criteria for independence.

  123. Compensation Consultant Independence

    | COMPENSATION CONSULTANT DUTIES | | ● Reports directly to the Committee with regular interface with the Committee Chair ● Attends all meetings of the Committee, including executive sessions without management present ● Reviews the Company’s executive compensation strategy and programs to ensure appropriateness and market competitiveness ● Provides research, data analyses, survey information and design expertise in developing compensation programs for executives and incentive programs for eligible employees ● Regularly updates the Committee on market trends, changing practices, and legislation pertaining to executive compensation and benefits ● Advises the Committee on the appropriate comparator group for compensation and benefit programs |

  124. Risk Considerations

    | ● | The Company’s incentive compensation programs contain appropriate risk mitigation features, including award caps, multiple performance measures, clawback features and ranges of awards. In addition, the share ownership and retention guidelines mitigate risk. |

  125. Risk Considerations

    | ● | In 2025, the Company conducted, and both the compensation consultant and the Committee reviewed, a global risk assessment of our compensation programs. The risk assessment included conducting a global inventory of incentive plans and programs and considered factors such as the plan measures, number of participants, maximum payments and risk mitigation factors. Management and the Committee do not believe that any of the Company’s compensation programs create risks that are reasonably likely to have a material adverse impact on the Company. As such, the Company did not make any material adjustments to its compensation policies and practices as a result of the global risk assessment. |

  126. Share Retention Policy

    | ● | Executive officers who have not yet met their share ownership objective must retain 50% of the shares (after paying taxes) obtained from option exercises or from the release of performance shares or restricted stock awards until the earlier of the date on which the share ownership objective is met or separation from the Company. |

  127. Clawback Policy

    | ● | In addition, under certain other circumstances, the Company’s incentive compensation, including equity compensation, is subject to recoupment. These clawback provisions apply while an individual is employed and, if an employee separates from employment, until the later of one year from separation and payment of the applicable compensation. These clawback provisions allow the Company to recoup payments if an employee or former employee engages in certain prohibited activities, which include violation of any Company policy (including the Company’s Code of Business Conduct), actions that result in reputational harm to the Company, disclosure of confidential information or trade secrets, acceptance of employment with competitors or solicitation of Company employees. These provisions apply regardless of whether these actions result in an accounting restatement. |

  128. Change in Control

    Change in Control

  129. Change in Control

    | ● | The Company has change in control provisions in its annual and long-term incentive plans and some of its retirement plans in which the Named Executive Officers participate. Equity plans include “double-trigger” change in control provisions. |

  130. Change in Control

    | ● | Change in control provisions apply equally to all plan participants. There are no special change in control agreements or arrangements with any of the Named Executive Officers, and we do not provide a tax gross-up for any change in control situation. |

  131. Change in Control

    | ● | The change in control provisions are intended to address the concern that, in the event the Company is considering a change in control transaction, the employees involved in considering the transaction might otherwise be motivated to act in their own interests rather than the interests of the shareowners. |

  132. Change in Control

    | ● | For a more detailed discussion of change in control provisions, see the Payments on Termination or Change in Control section beginning on page 73. |

  133. 2025 Summary Compensation Table

    2025 Summary Compensation Table

  134. 2025 Summary Compensation Table

    | | | | | | | | Change in | | | | | | | | | | | Pension | | | | | | | | | | | Value and | | | | | | | | | | Non-Equity | Nonqualified | | | | | | | | | | Incentive | Deferred | | | | | | | | Stock | Option | Plan | Compensation | All Other | | | | | Salary | Bonus | Awards | Awards | Compensation | Earnings | Compensation | Total | | Name and Principal Position(1) | Year | ($) | ($) | ($) | ($) | ($) | ($) | ($) | ($) | | (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | (j) | | James Quincey(2) | 2025 | $1,675,000 | $0 | $12,516,109 | $10,352,255 | $5,025,000 | $1,108,486 | $531,315 | $31,208,165 | | Chairman of the Board and | 2024 | 1,656,250 | 0 | 9,549,022 | 8,588,282 | 6,365,000 | 996,674 | 847,056 | 28,002,284 | | Chief Executive Officer | 2023 | 1,600,000 | 0 | 8,299,550 | 7,217,020 | 6,080,000 | 921,282 | 625,056 | 24,742,908 | | John Murphy | 2025 | 1,141,900 | 0 | 3,783,921 | 3,129,748 | 2,594,219 | 853,963 | 251,955 | 11,755,706 | | President and | 2024 | 1,097,980 | 0 | 3,103,416 | 2,791,195 | 3,159,624 | 818,601 | 232,001 | 11,202,817 | | Chief Financial Officer | 2023 | 1,055,750 | 0 | 3,227,606 | 2,806,614 | 3,038,100 | 725,785 | 272,290 | 11,126,145 | | Manuel Arroyo(3) | 2025 | 734,992 | 0 | 2,716,394 | 1,123,720 | 1,384,899 | 321,641 | 412,241 | 6,693,887 | | Executive Vice President and | 2024 | 717,168 | 0 | 2,227,878 | 1,002,166 | 1,719,809 | 299,775 | 7,117,056 | 13,083,851 | | Chief Marketing Officer | 2023 | 689,585 | 0 | 1,844,338 | 1,603,782 | 1,653,665 | 276,429 | 587,344 | 6,655,143 | | Henrique Braun(4) | 2025 | 1,050,000 | 0 | 3,783,921 | 3,129,748 | 2,756,250 | 479,430 | 443,253 | 11,642,602 | | Executive Vice President and | 2024 | 726,250 | 0 | 1,671,066 | 1,502,946 | 1,837,500 | 297,443 | 324,601 | 6,359,806 | | Chief Operating Officer | 2023 | 700,000 | 0 | 1,613,831 | 1,403,312 | 1,662,500 | 321,024 | 1,246,446 | 6,947,113 | | Jennifer Mann | 2025 | 857,520 | 0 | 2,910,753 | 2,407,502 | 1,368,000 | 343,398 | 118,260 | 8,005,433 | | Executive Vice President and | 2024 | 723,060 | 0 | 1,312,964 | 1,180,884 | 1,460,160 | 183,736 | 110,252 | 4,971,056 | | President, North America operating unit | 2023 | 695,250 | 0 | 1,152,704 | 1,002,361 | 1,333,800 | 264,308 | 65,504 | 4,513,927 |

  135. 2025 Summary Compensation Table

    | (1) Principal position reflects position held as of December 31, 2025. |

  136. 2025 Summary Compensation Table

    | (2) Effective March 31, 2026, Mr. Quincey will serve as Executive Chairman of the Board. |

  137. 2025 Summary Compensation Table

    | (3) Effective March 31, 2026, Mr. Arroyo will serve as Executive Vice President and Chief Marketing and Customer Commercial Officer. |

  138. 2025 Summary Compensation Table

    | (4) Effective March 31, 2026, Mr. Braun will serve as Chief Executive Officer. |

  139. Change in Pension Value and Nonqualified Deferred Compensation Earnings (Column (h))

    Change in Pension Value and Nonqualified Deferred Compensation Earnings (Column (h)) The amounts reported for each year in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column are comprised of changes in the actuarial present value of the accumulated pension benefits of each of the Named Executive Officers under the applicable pension plan during such year. Pension values may fluctuate significantly from year to year depending on a number of factors, including age, years of service, average annual earnings and the assumptions used to determine the present value, such as the discount rate. The assumptions used by the Company in calculating the change in pension value are described on page 71. The Company cautions that the values reported in the Change in Pension Value and Nonqualified Deferred Compensation Earnings column are theoretical, as those amounts are calculated pursuant to SEC requirements and are based on assumptions used in preparing the Company’s audited financial statements for the applicable fiscal years. The Company’s retirement plans utilize a different method of calculating actuarial present value for the purpose of determining a lump sum payment, if any. The change in pension value from year to year as reported in the table is subject to market volatility and may not represent the value that a Named Executive Officer will actually accrue or receive under the Company’s retirement plans during any given year. None of the Named Executive Officers received above-market or preferential earnings (as these terms are defined by the SEC) on their nonqualified deferred compensation accounts. The material provisions of the Company’s retirement plans and deferred compensation plans in which the Named Executive Officers participate are described in the Summary of Plans in Annex B beginning on page 106.

  140. Change in Pension Value and Nonqualified Deferred Compensation Earnings (Column (h))

    | The Coca-Cola Company | 65 | 2026 Proxy Statement |

  141. Change in Pension Value and Nonqualified Deferred Compensation Earnings (Column (h))

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  142. 2025 Grants of Plan-Based Awards

    2025 Grants of Plan-Based Awards

  143. 2025 Grants of Plan-Based Awards

    | | | | | | | | | | Exercise | Closing | Grant Date | | | | | | | | | | All Other Option | or | Price | Fair | | | | Estimated Future Payouts Under | | | Estimated Future Payouts Under | | | Awards: Number | Base Price | on | Value of Stock | | | | Non-Equity Incentive Plan Awards | | | Equity Incentive Plan Awards | | | of Securities | of Option | Grant | and Option | | | | Threshold | Target | Maximum | Threshold | Target | Maximum | Underlying Options | Awards | Date | Awards | | Name | Grant Date | ($) | ($) | ($) | (#) | (#) | (#) | (#) | ($/Sh) | ($/Sh) | ($) | | (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (j) | (k) | | (l) | | James Quincey | — | $0 | $3,350,000 | $6,700,000 | | | | | | | | | | 2/27/2025 | | | | 86,485 | 172,970 | 345,940 | | | | $12,516,109 | | | 2/27/2025 | | | | | | | 864,850 | $70.98 | $70.87 | 10,352,255 | | John Murphy | — | 0 | 1,729,479 | 3,458,958 | | | | | | | | | | 2/27/2025 | | | | 26,146 | 52,293 | 104,586 | | | | 3,783,921 | | | 2/27/2025 | | | | | | | 261,466 | 70.98 | 70.87 | 3,129,748 | | Manuel Arroyo | — | 0 | 923,266 | 1,846,532 | | | | | | | | | | 2/27/2025 | | | | 18,770 | 37,540 | 75,080 | | | | 2,716,394 | | | 2/27/2025 | | | | | | | 93,878 | 70.98 | 70.87 | 1,123,720 | | Henrique Braun | — | 0 | 1,837,500 | 3,675,000 | | | | | | | | | | 2/27/2025 | | | | 26,146 | 52,293 | 104,586 | | | | 3,783,921 | | | 2/27/2025 | | | | | | | 261,466 | 70.98 | 70.87 | 3,129,748 | | Jennifer Mann | — | 0 | 900,000 | 1,800,000 | | | | | | | | | | 2/27/2025 | | | | 20,113 | 40,226 | 80,452 | | | | 2,910,753 | | | 2/27/2025 | | | | | | | 201,128 | 70.98 | 70.87 | 2,407,502 |

  144. 2025 Outstanding Equity Awards at Fiscal Year-End

    2025 Outstanding Equity Awards at Fiscal Year-End

  145. 2025 Outstanding Equity Awards at Fiscal Year-End

    | | Option Awards | | | | Stock Awards | | | | | | | | | | | | Equity Incentive | Equity Incentive | | | | | | | | | Plan Awards: | Plan Awards: | | | Number of | Number of | | | Number of | Market Value | Number of | Market or Payout | | | Securities | Securities | | | Shares or | of Shares or | Unearned Shares, | Value of Unearned | | | Underlying | Underlying | Option | | Units of Stock | Units of Stock | Units or Other | Shares, Units or | | | Unexercised | Unexercised | Exercise | Option | That Have Not | That Have Not | Rights That Have | Other Rights That | | | Options (#) | Options (#) | Price | Expiration | Vested | Vested | Not Vested | Have Not Vested | | Name | Exercisable | Unexercisable | ($) | Date | (#) | ($) | (#) | ($) | | (a) | (b) | (c) | (e) | (f) | (g) | (h)* | (i) | (j)* | | James Quincey | 337,824(1) | | $40.8900 | 2/15/2027 | 335,913(10) | $23,483,678 | 680,114(11) | $47,546,770 | | | 444,296(2) | | 44.4750 | 2/15/2028 | | | | | | | 527,087(3) | | 45.4350 | 2/21/2029 | | | | | | | 486,651(4) | | 59.4850 | 2/20/2030 | | | | | | | 554,597(5) | | 50.4383 | 2/18/2031 | | | | | | | 511,794(6) | 170,599(6) | 61.3400 | 2/17/2032 | | | | | | | 366,718(7) | 366,719(7) | 60.0200 | 2/25/2033 | | | | | | | 208,859(8) | 626,577(8) | 60.2750 | 2/28/2034 | | | | | | | | 864,850(9) | 70.9775 | 2/27/2035 | | | | | | John Murphy | 99,437(1) | | 40.8900 | 2/15/2027 | 130,633(12) | 9,132,553 | 213,192(13) | 14,904,253 | | | 152,483(2) | | 44.4750 | 2/15/2028 | | | | | | | 193,265(3) | | 45.4350 | 2/21/2029 | | | | | | | 162,217(4) | | 59.4850 | 2/20/2030 | | | | | | | 184,866(5) | | 50.4383 | 2/18/2031 | | | | | | | 170,598(6) | 56,866(6) | 61.3400 | 2/17/2032 | | | | | | | 142,612(7) | 142,613(7) | 60.0200 | 2/25/2033 | | | | | | | 67,879(8) | 203,638(8) | 60.2750 | 2/28/2034 | | | | | | | | 261,466(9) | 70.9775 | 2/27/2035 | | | | | | Manuel Arroyo | 57,581(2) | | 44.4750 | 2/15/2028 | 74,647(14) | 5,218,572 | 153,046(15) | 10,699,446 | | | 115,959(3) | | 45.4350 | 2/21/2029 | | | | | | | 126,824(4) | | 59.4850 | 2/20/2030 | | | | | | | 151,254(5) | | 50.4383 | 2/18/2031 | | | | | | | 93,072(6) | 31,024(6) | 61.3400 | 2/17/2032 | | | | | | | 81,493(7) | 81,493(7) | 60.0200 | 2/25/2033 | | | | | | | 24,371(8) | 73,116(8) | 60.2750 | 2/28/2034 | | | | | | | | 93,878(9) | 70.9775 | 2/27/2035 | | | | | | Henrique Braun | 55,500(1) | | 40.8900 | 2/15/2027 | 65,317(16) | 4,566,311 | 163,066(17) | 11,399,944 | | | 38,387(2) | | 44.4750 | 2/15/2028 | | | | | | | 43,081(3) | | 45.4350 | 2/21/2029 | | | | | | | 38,342(4) | | 59.4850 | 2/20/2030 | | | | | | | 53,779(5) | | 50.4383 | 2/18/2031 | | | | | | | 41,365(6) | 13,789(6) | 61.3400 | 2/17/2032 | | | | | | | 71,306(7) | 71,307(7) | 60.0200 | 2/25/2033 | | | | | | | 36,550(8) | 109,651(8) | 60.2750 | 2/28/2034 | | | | | | | | 261,466(9) | 70.9775 | 2/27/2035 | | | | | | Jennifer Mann | 80,820(3) | | 45.4350 | 2/21/2029 | 46,654(18) | 3,261,581 | 126,400(19) | 8,836,624 | | | 70,786(4) | | 59.4850 | 2/20/2030 | | | | | | | 67,224(5) | | 50.4383 | 2/18/2031 | | | | | | | 41,365(6) | 13,789(6) | 61.3400 | 2/17/2032 | | | | | | | 50,993(7) | 50,933(7) | 60.0200 | 2/25/2033 | | | | | | | 28,718(8) | 86,154(8) | 60.2750 | 2/28/2034 | | | | | | | | 201,128(9) | 70.9775 | 2/27/2035 | | | | |

  146. 2025 Outstanding Equity Awards at Fiscal Year-End

    | * Market values in columns (h) and (j) were determined by multiplying the number of shares of stock or units, as applicable, by $69.91, the closing price of Common Stock on December 31, 2025, the last trading day of the year. |

  147. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (1) These options were granted on February 16, 2017. The options vested 25% on the first, second, third and fourth anniversaries of the grant date. |

  148. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (2) These options were granted on February 15, 2018. The options vested 25% on the first, second, third and fourth anniversaries of the grant date. |

  149. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (3) These options were granted on February 21, 2019. The options vested 25% on the first, second, third and fourth anniversaries of the grant date. |

  150. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (4) These options were granted on February 20, 2020. The options vested 25% on the first, second, third and fourth anniversaries of the grant date. |

  151. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (5) These options were granted on February 18, 2021. The options vested 25% on the first, second, third and fourth anniversaries of the grant date. |

  152. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (6) These options were granted on February 17, 2022. The options vest 25% on the first, second, third and fourth anniversaries of the grant date. |

  153. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (7) These options were granted on February 27, 2023. The options vest 25% on February 29, 2024, February 28, 2025, February 27, 2026 and February 26, 2027. |

  154. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (8) These options were granted on February 28, 2024. The options vest 25% on February 28, 2025, February 27, 2026, February 26, 2027 and February 29, 2028. |

  155. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (9) These options were granted on February 27, 2025. The options vest 25% on February 27, 2026, February 26, 2027, February 29, 2028 and February 28, 2029. |

  156. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (10) Reflects 335,913 PSUs earned upon satisfaction of the performance measures under the 2023-2025 PSU program. |

  157. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (11) Reflects 334,174 PSUs for the 2024-2026 PSU program at the maximum award level and 345,940 PSUs for the 2025-2027 PSU program at the maximum award level. |

  158. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (12) Reflects 130,633 PSUs earned upon satisfaction of the performance measures under the 2023-2025 PSU program. |

  159. 2025 Outstanding Equity Awards at Fiscal Year-End

    | The Coca-Cola Company | 69 | 2026 Proxy Statement |

  160. 2025 Outstanding Equity Awards at Fiscal Year-End

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  161. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (13) Reflects 108,606 PSUs for the 2024-2026 PSU program at the maximum award level and 104,586 PSUs for the 2025-2027 PSU program at the maximum award level. |

  162. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (14) Reflects 74,647 PSUs earned upon satisfaction of the performance measures under the 2023-2025 PSU program. |

  163. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (15) Reflects 77,966 PSUs for the 2024-2026 PSU program at the maximum award level and 75,080 PSUs for the 2025-2027 PSU program at the maximum award level. |

  164. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (16) Reflects 65,317 PSUs earned upon satisfaction of the performance measures under the 2023-2025 PSU program. |

  165. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (17) Reflects 58,480 PSUs for the 2024-2026 PSU program at the maximum award level and 104,586 PSUs for the 2025-2027 PSU program at the maximum award level. |

  166. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (18) Reflects 46,654 PSUs earned upon satisfaction of the performance measures under the 2023-2025 PSU program. |

  167. 2025 Outstanding Equity Awards at Fiscal Year-End

    | (19) Reflects 45,948 PSUs for the 2024-2026 PSU program at the maximum award level and 80,452 PSUs for the 2025-2027 PSU program at the maximum award level. |

  168. 2025 Option Exercises and Stock Vested

    2025 Option Exercises and Stock Vested

  169. 2025 Option Exercises and Stock Vested

    | | Option Awards | | Stock Awards | | | | Number of Shares | Value Realized | Number of Shares | Value Realized | | | Acquired on Exercise | on Exercise | Acquired on Vesting | on Vesting | | Name | (#) | ($) | (#) | ($) | | (a) | (b) | (c) | (d) | (e) | | James Quincey | 266,403 | $7,605,114 | 259,310 | $18,169,852 | | John Murphy | 38,751 | 1,107,465 | 86,436 | 6,056,571 | | Manuel Arroyo | 0 | 0 | 94,285 | 6,606,550 | | Henrique Braun | 50,545 | 1,385,757 | 41,904 | 2,936,213 | | Jennifer Mann | 0 | 0 | 41,904 | 2,936,213 |

  170. 2025 Pension Benefits

    2025 Pension Benefits

  171. 2025 Pension Benefits

    | | | Number of | Present Value of | Payments During | | | | Years Credited | Accumulated Benefit | Last Fiscal Year | | Name | Plan Name | Service (#) | ($) | ($) | | (a) | (b) | (c) | (d) | (e) | | James Quincey | Mobile Plan | 11.1(1) | $2,786,125 | $0 | | | TCCC Pension Plan | 11.6 | 359,061 | 0 | | | TCCC Supplemental Pension Plan | —(2) | 4,797,059 | 0 | | John Murphy | Mobile Plan | 32.5(3) | 9,262,169 | 0 | | | TCCC Pension Plan | 5.0 | 149,982 | 0 | | | TCCC Supplemental Pension Plan | —(2) | 1,343,567 | 0 | | Manuel Arroyo | Mobile Plan | 8.4(4) | 1,704,268 | 0 | | Henrique Braun | TCCC Pension Plan | 29.8 | 848,391 | 0 | | | TCCC Supplemental Pension Plan | —(2) | 1,892,397 | 0 | | Jennifer Mann | TCCC Pension Plan | 28.2 | 670,798 | 0 | | | TCCC Supplemental Pension Plan | —(2) | 1,581,672 | 0 |

  172. 2025 Pension Benefits

    | (1) In May 2017, Mr. Quincey stopped participating in an international service program and localized to the United States. As a result, he began participating again in the TCCC Pension Plan and the TCCC Supplemental Pension Plan (each as defined below) and stopped accruing benefits in the Mobile Plan. Mr. Quincey’s total years of service with the Company is 29.3 years. He participated in the Coca-Cola UK Stakeholder Pension Plan (the “UK Savings Plan”) for a portion of this time. |

  173. 2025 Pension Benefits

    | (2) The same years of service apply to both the TCCC Pension Plan and the TCCC Supplemental Pension Plan, as these plans work in tandem. |

  174. 2025 Pension Benefits

    | (3) In January 2021, Mr. Murphy stopped participating in an international service program and localized to the United States. As a result, he began participating in the TCCC Pension Plan and the TCCC Supplemental Pension Plan and stopped accruing benefits in the Mobile Plan. |

  175. 2025 Pension Benefits

    | (4) Mr. Arroyo had a prior period of employment with the Company for which his benefits in the Mobile Plan were fully distributed. The service shown reflects service from 2017 when he rejoined the Company and began participating again in the Mobile Plan. Mr. Arroyo’s total years of service with the Company is 27.9 years. He participated in a savings plan in Spain (the “Spanish Savings Plan”) for a portion of this time. |

  176. 2025 Pension Benefits

    The Company provides retirement benefits from various plans to its employees, including the Named Executive Officers. Due to the Company’s global operations, it maintains different plans to address different market conditions, various legal and tax requirements, and different groups of employees. In 2025, all of the Named Executive Officers except for Mr. Arroyo participated in or had a benefit under The Coca-Cola Company Pension Plan (the “TCCC Pension Plan”) and The Coca-Cola Company Supplemental Pension Plan (the “TCCC Supplemental Pension Plan”). In 2025, Mr. Arroyo participated in the Mobile Plan. Messrs. Quincey and Murphy have a benefit under the Mobile Plan for the period they were covered under an international service program. Additional details of these plans are described in the Summary of Plans in Annex B beginning on page 106. The table above reflects the present value of accumulated benefits for each of the Named Executive Officers under the applicable plans. Compensation used for determining pension benefits under the TCCC Pension Plan, the TCCC Supplemental Pension Plan and the Mobile Plan generally includes only base salary and annual cash incentives. The amounts reflected for each plan represent the present value of the maximum benefit payable under the applicable plans. In some cases, the payments may be reduced for early retirement or by benefits paid by other Company-sponsored retirement plans, statutory payments or Social Security. The Company generally does not grant additional years of benefit service, and no Named Executive Officer has been credited with additional years of benefit service. The discount rate assumption used by the Company in calculating the present value of accumulated benefits was 5.33% for the TCCC Pension Plan and 5.24% for the TCCC Supplemental Pension Plan. For information on additional assumptions used by the Company in calculating the present value of accumulated benefits, see Note 14 to the Company’s consolidated financial statements in the Form 10-K. The calculations assume that the Named Executive Officer continues to live at least until the earliest age at which an unreduced benefit is payable. The Company’s retirement plans utilize a different method of calculating actuarial present value for the purpose of determining a lump sum payment, if any. The traditional pension benefit under the TCCC Supplemental Pension Plan is paid in the form of an annuity if the employee has reached at least age 55 with 10 years of service (or reached at least age 60 with any amount of service) at the time of his or her separation from the Company. Therefore, Messrs. Quincey and Braun are required to take the traditional pension benefit portion of their TCCC Supplemental Pension Plan benefit in the form of an annuity.

  177. 2025 Pension Benefits

    | The Coca-Cola Company | 71 | 2026 Proxy Statement |

  178. 2025 Pension Benefits

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  179. 2025 Nonqualified Deferred Compensation

    2025 Nonqualified Deferred Compensation The following table provides information on the Named Executive Officers’ participation in The Coca-Cola Company Deferred Compensation Plan (the “Deferred Compensation Plan”) and the Supplemental 401(k) Plan, as applicable. These plans either allow eligible employees to defer part of their base salary and annual incentive on a voluntary basis or make employees whole when the Company matching contribution is limited under the tax-qualified plan. The Company matching contribution under the Supplemental 401(k) Plan is provided at the same rate as the Company matching contribution under the 401(k) Plan. The Company does not match any additional voluntary deferrals. Additional details of the Deferred Compensation Plan and the Supplemental 401(k) Plan are described in the Summary of Plans in Annex B beginning on page 106.

  180. 2025 Nonqualified Deferred Compensation

    | | | Executive | Registrant | Aggregate | Aggregate | Aggregate | | | | Contributions | Contributions | Earnings | Withdrawals/ | Balance | | | | in Last FY | in Last FY | in Last FY | Distributions | at Last FYE | | Name | Plan Name | ($) | ($) | ($) | ($) | ($) | | (a) | | (b) | (c) | (d) | (e) | (f) | | James Quincey | Deferred Compensation Plan | N/A | N/A | N/A | N/A | N/A | | | Supplemental 401(k) Plan | N/A | $269,150 | $304,624 | $0 | $2,477,800 | | John Murphy | Deferred Compensation Plan | N/A | N/A | N/A | N/A | N/A | | | Supplemental 401(k) Plan | N/A | 138,303 | 69,021 | 0 | 625,254 | | Manuel Arroyo | Deferred Compensation Plan | N/A | N/A | N/A | N/A | N/A | | Henrique Braun | Deferred Compensation Plan | N/A | N/A | N/A | N/A | N/A | | | Supplemental 401(k) Plan | N/A | 88,813 | 74,498 | 0 | 626,546 | | Jennifer Mann | Deferred Compensation Plan | N/A | N/A | N/A | N/A | N/A | | | Supplemental 401(k) Plan | N/A | 68,869 | 73,622 | 0 | 603,713 |

  181. PAYMENTS ON TERMINATION OR CHANGE IN CONTROL

    PAYMENTS ON TERMINATION OR CHANGE IN CONTROL

  182. Quantification of Payments Upon Termination or Change in Control

    Quantification of Payments Upon Termination or Change in Control The following table and footnotes describe the potential payments to the Named Executive Officers upon termination of employment or a change in control of the Company as of December 31, 2025. The table does not include the following:

  183. Quantification of Payments Upon Termination or Change in Control

    | ● | compensation or benefits previously earned by the Named Executive Officers or equity awards that are fully vested; |

  184. Quantification of Payments Upon Termination or Change in Control

    | ● | the value of pension benefits that are disclosed in the 2025 Pension Benefits table beginning on page 71, except for any pension enhancement triggered by the event, if applicable; |

  185. Quantification of Payments Upon Termination or Change in Control

    | ● | the amounts payable under deferred compensation plans that are disclosed in the 2025 Nonqualified Deferred Compensation table on page 72; or |

  186. Quantification of Payments Upon Termination or Change in Control

    | ● | the value of any benefits (such as retiree health coverage, life insurance and disability coverage) provided on the same basis to substantially all other employees in the country in which the relevant Named Executive Officer works. |

  187. Quantification of Payments Upon Termination or Change in Control

    | | Voluntary | Involuntary | | | Change in | | | Separation | Termination | Death | Disability | Control | | | ($) | ($) | ($) | ($) | ($) | | | (a) | (b) | (c) | (d) | (e) | | Mr. Quincey | | | | | | | Severance Payments | $0 | $3,350,000 | $0 | $0 | $0 | | Annual Incentive(1) | 0 | 0 | 0 | 0 | 3,350,000 | | Stock Options(2) | 11,125,954 | 11,125,954 | 11,125,954 | 11,125,954 | 11,125,954 | | PSUs and Restricted Stock Units(3) | 0 | 0 | 34,028,273 | 0 | 43,089,098 | | Pension Enhancement | 0 | 0 | 0 | 0 | 0 | | TOTAL | 11,125,954 | 14,475,954 | 45,154,227 | 11,125,954 | 57,565,052 | | Mr. Murphy | | | | | | | Severance Payments | 0 | 2,305,972 | 0 | 0 | 0 | | Annual Incentive(1) | 0 | 0 | 0 | 0 | 1,729,479 | | Stock Options(2) | 3,859,836 | 3,859,836 | 3,859,836 | 3,859,836 | 3,859,836 | | PSUs and Restricted Stock Units(3) | 0 | 0 | 11,440,142 | 0 | 15,412,918 | | Pension Enhancement | 0 | 0 | 0 | 0 | 0 | | TOTAL | 3,859,836 | 6,165,808 | 15,299,978 | 3,859,836 | 21,002,233 | | Mr. Arroyo | | | | | | | Severance Payments | 0 | 1,477,226 | 0 | 0 | 0 | | Annual Incentive(1) | 0 | 0 | 0 | 0 | 923,266 | | Stock Options(2) | 0 | 0 | 1,776,314 | 1,776,314 | 1,776,314 | | PSUs and Restricted Stock Units(3) | 0 | 0 | 7,628,579 | 0 | 9,727,068 | | Pension Enhancement | 0 | 0 | 0 | 0 | 0 | | TOTAL | 0 | 1,477,226 | 9,404,893 | 1,776,314 | 12,426,648 | | Mr. Braun | | | | | | | Severance Payments | 0 | 2,100,000 | 0 | 0 | 0 | | Annual Incentive(1) | 0 | 0 | 0 | 0 | 1,837,500 | | Stock Options(2) | 0 | 0 | 1,879,885 | 1,879,885 | 1,879,885 | | PSUs and Restricted Stock Units(3) | 0 | 0 | 7,694,015 | 0 | 8,510,424 | | Pension Enhancement | 0 | 0 | 0 | 0 | 0 | | TOTAL | 0 | 2,100,000 | 9,573,900 | 1,879,885 | 12,227,809 | | Ms. Mann | | | | | | | Severance Payments | 0 | 1,800,000 | 0 | 0 | 0 | | Annual Incentive(1) | 0 | 0 | 0 | 0 | 900,000 | | Stock Options(2) | 0 | 0 | 1,451,993 | 1,451,993 | 1,451,993 | | PSUs and Restricted Stock Units(3) | 0 | 0 | 5,842,588 | 0 | 6,340,418 | | Pension Enhancement | 0 | 0 | 0 | 0 | 572,188 | | TOTAL | 0 | 1,800,000 | 7,294,581 | 1,451,993 | 9,264,599 |

  188. Quantification of Payments Upon Termination or Change in Control

    | (1) Except upon a change in control, no amounts are included for the Annual Incentive Plan because the Named Executive Officers would be entitled to the same payment regardless of whether the event occurred. Upon a change in control, the target annual incentive amount is guaranteed (subject to proration if the participant leaves before the end of the year). |

  189. Quantification of Payments Upon Termination or Change in Control

    | (2) Represents the intrinsic value of the acceleration of vesting of any stock options that vest upon the event. Intrinsic value is the difference between the exercise price of the stock option and the closing price of Common Stock, which was $69.91 on December 31, 2025, the last trading day of the year. |

  190. Quantification of Payments Upon Termination or Change in Control

    | (3) No amounts are included for the 2023-2025, 2024-2026, or 2025-2027 PSU programs for Voluntary Separation, Involuntary Termination and Disability because the PSUs remain subject to performance requirements even after the event. See page 56 for the status of these PSU programs. |

  191. Quantification of Payments Upon Termination or Change in Control

    | The Coca-Cola Company | 76 | 2026 Proxy Statement |

  192. Quantification of Payments Upon Termination or Change in Control

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  193. PAY RATIO DISCLOSURE

    PAY RATIO DISCLOSURE As required by SEC rules, we are providing the information below to explain the relationship between the annual total compensation of Mr. Quincey, who served as the Company’s Chief Executive Officer in 2025, and the annual total compensation of the median employee of the Company, excluding our CEO. We identified the median employee using our employee population as of October 1, 2025. The median annual total compensation disclosed below is based on the Company’s global workforce and is not designed to capture the median compensation of the Company’s U.S. employees. In addition, employees in flexible, part-time roles, such as certain employees at retail stores operated by Costa Limited, our coffee business, lower the annual total compensation for our median employee. Our compensation philosophy is to pay competitively to market and provide fair compensation regardless of the locale. The compensation approach used to determine compensation for our broader workforce is the same approach we use when setting CEO pay, including consideration of pay competitiveness and the use of performance-based incentives that reward exceptional business performance in each jurisdiction consistent with market practice. For more information regarding our compensation philosophy, see page 50. For 2025, the median annual total compensation of all employees (other than the CEO) of the Company and its consolidated subsidiaries was $17,947. Mr. Quincey’s annual total compensation for 2025, as reported under the “Total” column (column (j)) in the 2025 Summary Compensation Table, was $31,208,165. Based on this information, for 2025, the ratio of the compensation of the CEO to the median annual total compensation of all other employees was estimated to be 1,739 to 1. To identify, and to determine the annual total compensation of, the median employee, we used the following methodology:

  194. PAY RATIO DISCLOSURE

    | ● | We collected the payroll data of all employees globally, whether employed on a full-time, part-time, temporary or seasonal basis as of October 1, 2025. We did not make any cost-of-living adjustments to compensation. |

  195. PAY RATIO DISCLOSURE

    | ● | We annualized the compensation of all permanent full-time and part-time employees who were hired by the Company and its consolidated subsidiaries between January 1 and October 1, 2025. |

  196. PAY RATIO DISCLOSURE

    | ● | We applied an exchange rate as of October 1, 2025 to convert all foreign currencies into U.S. dollars. |

  197. PAY RATIO DISCLOSURE

    | ● | We used total base pay as of October 1, 2025 as our consistently applied compensation measure. We identified all employees within 5% of the median and, from this group, used statistical sampling to select an employee as a reasonable representative of our median employee. |

  198. PAY RATIO DISCLOSURE

    Using this methodology, we determined that our median employee was a part-time, hourly barista employed in the United Kingdom by Costa Limited, with an annual total compensation of $17,947 for 2025, calculated in accordance with the requirements of Item 402(c)(2)(x) of Regulation S-K. This calculation includes base pay and an employer retirement contribution. We believe our pay ratio presented above is a reasonable estimate. The SEC rules for identifying the median employee and calculating the pay ratio allow companies to use different methodologies, exemptions, estimates and assumptions that reflect their employee populations and compensation practices. As a result, our pay ratio may not be comparable to the pay ratio reported by other companies.

  199. PAY RATIO DISCLOSURE

    | The Coca-Cola Company | 78 | 2026 Proxy Statement |

  200. PAY RATIO DISCLOSURE

    | Our Company | Voting Roadmap | Governance | Share Ownership | Compensation | Audit Matters | Shareowner Proposals | Annexes |

  201. PAY VERSUS PERFORMANCE DISCLOSURE

    PAY VERSUS PERFORMANCE DISCLOSURE This disclosure has been prepared in accordance with the SEC’s pay versus performance rules in Item 402(v) of Regulation S-K under the 1934 Act (“Item 402(v)”) and does not necessarily reflect value actually realized by the Named Executive Officers or the Talent and Compensation Committee’s methods for evaluating compensation decisions in light of Company or individual performance. For discussion of how the Talent and Compensation Committee seeks to align pay with performance when making compensation decisions, please review the Compensation Discussion and Analysis beginning on page 48. The following tables and related disclosures provide information about (i) the total compensation (“SCT Total”) of our principal executive officer (“PEO”) and our non-PEO Named Executive Officers (such non-PEO Named Executive Officers, collectively, the “Other NEOs”) as presented in the Summary Compensation Table on page 64, (ii) the “compensation actually paid” (“CAP”) to our PEO and our Other NEOs, as calculated pursuant to Item 402(v), (iii) certain financial performance measures, and (iv) the relationship of CAP to those financial performance measures.

  202. PAY VERSUS PERFORMANCE DISCLOSURE

    | | | | Average | | | | | | | | | | Summary | Average | | | | | | | | | Compensation | Compensation | | | | | | | | | Table Total | Actually Paid | Value of Initial Fixed $100 | | | | | | Summary | | for non-PEO | to non-PEO | Investment on | | | | | | Compensation | Compensation | Named | Named | 12/31/2020 Based on | | Net | | | | Table Total for | Actually Paid to | Executive | Executive | Total | Peer Group Total | Income | Organic | | | PEO | PEO | Officers | Officers | Shareholder | Shareholder | ($) | Revenue Growth | | Year | ($) | ($) | ($) | ($) | Return | Return | (millions) | (non-GAAP) | | (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | | 2025 | $31,208,165 | $61,649,669 | $9,524,407 | $16,403,251 | $148 | $113 | $13,137 | 5.0% | | 2024 | 28,002,284 | 40,592,982 | 8,904,383 | 11,638,291 | 128 | 112 | 10,649 | 12.0% | | 2023 | 24,742,908 | 19,275,773 | 7,310,582 | 7,294,876 | 118 | 117 | 10,703 | 11.5% | | 2022 | 22,822,519 | 54,495,284 | 7,731,933 | 16,456,021 | 123 | 122 | 9,571 | 16.0% | | 2021 | 24,883,878 | 60,511,538 | 8,668,505 | 15,571,959 | 111 | 113 | 9,804 | 15.5% |

  203. Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually Paid to Other NEOs (Column (e))

    Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually Paid to Other NEOs (Column (e)) The table below describes the adjustments, each of which is required by SEC rules, to calculate CAP from the SCT Total of our PEO (column (b)) and our Other NEOs (column (d)). The SCT Total and CAP do not reflect the actual amount of compensation earned by or paid to our executives during the applicable years, but rather are amounts determined in accordance with Item 402(v).

  204. Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually Paid to Other NEOs (Column (e))

    | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | | Adjustments | PEO | Other NEOs* | PEO | Other NEOs* | PEO | Other NEOs* | PEO | Other NEOs* | PEO | Other NEOs* | | SCT Total | $31,208,165 | $9,524,407 | $28,002,284 | $8,904,383 | $24,742,908 | $7,310,582 | $22,822,519 | $7,731,933 | $24,883,878 | $8,668,505 | | Adjustments for defined benefit pension plans | | | | | | | | | | | | (Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year | (1,108,486) | (499,608) | (996,674) | (399,889) | (921,282) | (396,887) | (490,035) | (405,368) | (293,215) | (170,695) | | Add: Service cost for the covered fiscal year | 238,135 | 124,299 | 397,604 | 147,204 | 375,082 | 117,939 | 221,266 | 101,864 | 214,384 | 186,283 | | Add: Prior service cost for the covered fiscal year | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | Adjustments for stock awards and option awards** | | | | | | | | | | | | (Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year | (22,868,364) | (5,746,427) | (18,137,304) | (3,698,129) | (15,516,570) | (3,663,637) | (14,133,339) | (4,064,153) | (16,472,735) | (3,982,125) | | Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end | 28,513,032 | 7,188,633 | 31,822,084 | 6,597,859 | 21,893,789 | 5,169,372 | 24,679,920 | 7,158,191 | 39,672,363 | 8,896,040 | | Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end | 20,961,576 | 4,754,685 | (1,032,728) | (25,576) | (7,851,512) | (1,141,326) | 19,902,921 | 5,525,189 | 15,006,128 | 3,307,124 | | Add: Vesting date fair value of awards granted and vested during the covered fiscal year | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year | 4,705,611 | 1,057,262 | 537,716 | 112,439 | (3,446,642) | (101,167) | 1,492,032 | 408,365 | (2,499,265) | (494,044) | | (Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (839,129) | | Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | CAP Amounts (as calculated) | $61,649,669 | $16,403,251 | $40,592,982 | $11,638,291 | $19,275,773 | $7,294,876 | $54,495,284 | $16,456,021 | $60,511,538 | $15,571,959 |

  205. Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually Paid to Other NEOs (Column (e))

    | * Amounts presented are averages for the entire group of Other NEOs in each respective year. |

  206. Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually Paid to Other NEOs (Column (e))

    | ** To determine the value of stock options included in CAP, the lattice valuation model was used, which differs from the Black-Scholes valuation model that was used at grant date. The lattice valuation model was deemed most appropriate because it is better able to value stock options at varying levels of stock price relative to the option exercise price and is consistent with valuation methodologies permitted under GAAP. |

  207. Relationship Between Compensation Actually Paid and Performance

    Relationship Between Compensation Actually Paid and Performance The graphs below show the relationship of CAP to our PEO and Other NEOs to (i) the Company’s organic revenue (non-GAAP) growth, (ii) the Company’s consolidated net income and (iii) TSR of both the Company and the Dow Jones U.S. Food & Beverage Total Return Index (“Peer Group TSR”). CAP, as calculated in accordance with Item 402(v), reflects, among other items, adjustments to the fair value of equity awards during the years presented. Factors impacting the fair value of equity awards include the price of our Common Stock at year end, as well as the projected and actual achievement of performance goals. These adjustments contributed to the change in CAP reported year-over-year.

  208. Relationship Between Compensation Actually Paid and Performance

    | The Coca-Cola Company | 82 | 2026 Proxy Statement |

  209. Company Documents, Communications, Shareowner Proposals and Director Nominees

    Company Documents, Communications, Shareowner Proposals and Director Nominees