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PEPSICO INC. 2023-2024 Proxy Voting Records

Compiled from SEC Form N-PX filings and PEPSICO INC.’s Form 8-K (Item 5.07 on EDGAR). Page generated 02 October 2026.

45Reported items
1,622Asset managers
34,872Fund votes
2024-05-01Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore PEPSICO INC. in the interactive database Compare manager voting policies

Official 2023-2024 meeting results reported by PEPSICO INC.

These tallies are PEPSICO INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.

PEPSICO INC. — official shareholder meeting results, meeting held 2024-05-01
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Segun Agbaje	992,587,294	5,844,363	3,290,130	--	180,213,992	Majority: yes
Elect Director: Jennifer Bailey	994,399,501	4,293,659	3,028,627	--	180,213,992	Majority: yes
Elect Director: Cesar Conde	953,874,248	44,579,459	3,268,080	--	180,213,992	Majority: yes
Elect Director: Ian Cook	953,553,268	44,954,817	3,213,702	--	180,213,992	Majority: yes
Elect Director: Edith W. Cooper	992,624,109	6,028,107	3,069,571	--	180,213,992	Majority: yes
Elect Director: Susan M. Diamond	992,923,590	5,712,787	3,085,410	--	180,213,992	Majority: yes
Elect Director: Dina Dublon	959,868,064	38,761,955	3,091,768	--	180,213,992	Majority: yes
Elect Director: Michelle Gass	993,493,679	5,104,039	3,124,069	--	180,213,992	Majority: yes
Elect Director: Ramon L. Laguarta	924,777,433	69,970,707	6,973,647	--	180,213,992	Majority: yes
Elect Director: Dave J. Lewis	993,610,225	4,916,597	3,194,965	--	180,213,992	Majority: yes
Elect Director: David C. Page, MD	981,671,677	16,776,735	3,273,375	--	180,213,992	Majority: yes
Elect Director: Robert C. Pohlad	961,311,025	37,291,829	3,118,933	--	180,213,992	Majority: yes
Elect Director: Daniel Vasella, MD	946,402,520	52,026,331	3,292,936	--	180,213,992	Majority: yes
Elect Director: Darren Walker	979,013,353	19,436,522	3,271,912	--	180,213,992	Majority: yes
Elect Director: Alberto Weisser	961,094,583	36,993,363	3,633,841	--	180,213,992	Majority: yes
(2) The shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for PepsiCo for fiscal year 2024:	1,105,513,902	73,973,820	2,448,057	--	--	Majority: yes
(3) The shareholders approved, on an advisory basis, PepsiCo's executive compensation:	889,447,400	102,710,531	9,563,856	--	180,213,992	Majority: yes
(4) The shareholders approved the Amended and Restated PepsiCo, Inc. Long-Term Incentive Plan:	942,110,924	50,972,522	8,638,341	--	180,213,992	Majority: yes
(5) The shareholders voted against a shareholder proposal regarding shareholder ratification of excessive golden parachutes:	65,453,445	927,884,864	8,383,478	--	180,213,992	Majority: no
(6) The shareholders voted against a shareholder proposal regarding a report on gender-based compensation gaps and associated risks:	18,365,513	965,634,403	17,721,871	--	180,213,992	Majority: no
(7) The shareholders voted against a shareholder proposal regarding a director election resignation bylaw:	176,880,527	812,849,879	11,991,381	--	180,213,992	Majority: no
(8) The shareholders voted against a shareholder proposal regarding a third-party assessment on non-sugar sweetener risks:	112,324,772	868,039,261	21,357,754	--	180,213,992	Majority: no
(9) The shareholders voted against a shareholder proposal regarding a report on risks related to biodiversity and nature loss:	178,018,946	790,567,899	33,134,942	--	180,213,992	Majority: no
(10) The shareholders voted against a shareholder proposal regarding a third-party racial equity audit:	196,593,851	786,489,111	18,638,825	--	180,213,992	Majority: no
(11) The shareholders voted against a shareholder proposal regarding a report on risks created by the Company's diversity, equity and inclusion efforts:	27,063,961	954,327,466	20,330,360	--	180,213,992	Majority: no
(12) The shareholders voted against a shareholder proposal regarding a global transparency report:	146,027,052	831,047,798	24,646,937	--	180,213,992	Majority: no

Source: PEPSICO INC., Form 8-K — read the filing on EDGAR.

How asset managers voted at the PEPSICO INC. 2023-2024 meeting

Each item below shows how the 1,622 asset managers that disclosed a PEPSICO INC. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of PEPSICO INC.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.

1. Advisory approval of the Company's executive compensation.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 41 wordings of this item as funds reported it.

90% Majority: yes · of votes cast

FOR 90%10%

FOR: 889,447,400AGAINST: 102,710,531

PEPSICO INC.’s own tally for this item (“(3) The shareholders approved, on an advisory basis, PepsiCo's executive compensation:”): 889,447,400 for, 102,710,531 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 65% for, 7% against (72% of the company cast a for/against vote).

The 1,486 asset managers below cast 95% of the shares they voted on this item FOR (891,509,299 for, 51,505,054 against).

FOR 94%

FOR: 891,509,299 (94.4%)AGAINST: 51,505,054 (5.5%)ABSTAIN: 740,610 (0.1%)NOT VOTED: 132,377 (0.0%)UNKNOWN: 67,426 (0.0%)NO VOTE: 144 (0.0%)

Largest asset managers voting on “Advisory approval of the Company's executive compensation.” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	142,137,913	0	For
BlackRock	88,427,032	6,129	For
OAK RIDGE INVESTMENTS LLC	49,000,000	0	For
State Street	48,369,581	471,283	For
Charles Schwab	38,358,113	0	For
Fidelity	37,200,563	0	For
Baron Financial Group, LLC	31,000,000	0	For
GEODE CAPITAL MANAGEMENT, LLC	28,794,593	0	For
Wellington	11,588,805	0	For
JPMorgan	11,497,397	39	For
Invesco	11,365,687	0	For
T. Rowe Price	10,555,755	210,546	For
Capital Research Global Investors	10,625,085	0	For
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	9,860,276	0	For
Northern Trust	9,658,362	37,077	For
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM	9,404,096	0	For
FUNDSMITH INVESTMENT SERVICES LTD.	0	8,029,459	Against
Nuveen	7,962,621	0	For
FRANKLIN ADVISERS INC	7,900,280	0	For
BANK OF AMERICA NA	7,775,379	0	For
MELLON INVESTMENTS Corp	7,721,121	0	For
Legal & General Investment Management Ltd	0	7,642,375	Against
Capital Group	6,964,299	17,954	For
Dimensional	6,400,005	0	For
TIAA	6,208,608	0	For

Showing the 25 largest of 1,486 asset managers. See all 1,486 in the interactive database.

2. Shareholder Proposal - Shareholder Ratification of Excessive Golden Parachutes.

COMPENSATIONMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 15 wordings of this item as funds reported it.

7% Majority: no · of votes cast

AGAINST 93%

FOR: 65,453,445AGAINST: 927,884,864

PEPSICO INC.’s own tally for this item (“(5) The shareholders voted against a shareholder proposal regarding shareholder ratification of excessive golden parachutes:”): 65,453,445 for, 927,884,864 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 5% for, 67% against (72% of the company cast a for/against vote).

The 278 asset managers below cast 0.8% of the shares they voted on this item FOR (2,214,887 for, 305,173,421 against).

AGAINST 99.2%

FOR: 2,214,887 (0.7%)AGAINST: 305,173,421 (99.2%)ABSTAIN: 194,809 (0.1%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,310 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Shareholder Ratification of Excessive Golden Parachutes.” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	0	135,882,107	Against
Fidelity	0	31,686,605	Against
Charles Schwab	0	19,140,095	Against
State Street	468	13,265,532	Against
JPMorgan	0	9,761,599	Against
Capital Group	0	6,933,295	Against
TIAA	0	6,028,110	Against
MFS	0	5,879,265	Against
Dimensional	0	5,577,447	Against
Invesco	0	5,184,369	Against
Jensen Quality Growth Fund Inc	0	3,716,000	Against
INVESTMENT CO OF AMERICA	0	3,571,607	Against
FRANKLIN MANAGED TRUST	0	3,223,083	Against
Franklin Custodian Funds	0	3,115,845	Against
T. Rowe Price	0	3,025,525	Against
Columbia Threadneedle	0	2,881,045	Against
ProShares	0	2,673,526	Against
American Century	0	2,227,103	Against
WisdomTree	0	2,095,447	Against
AMG FUNDS	0	1,945,000	Against
Jackson National	0	1,932,926	Against
First Trust	0	1,851,690	Against
Victory Capital	0	1,634,313	Against
CITY NATIONAL ROCHDALE FUNDS	0	1,448,969	Against
DIAMOND HILL FUNDS	0	1,402,735	Against

Showing the 25 largest of 278 asset managers. See all 278 in the interactive database.

3. Approval of the amended and restated PepsiCo, Inc. Long-Term Incentive Plan.

CAPITAL STRUCTUREMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 14 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 942,110,924AGAINST: 50,972,522

PEPSICO INC.’s own tally for this item (“(4) The shareholders approved the Amended and Restated PepsiCo, Inc. Long-Term Incentive Plan:”): 942,110,924 for, 50,972,522 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 69% for, 4% against (72% of the company cast a for/against vote).

The 263 asset managers below cast 99.7% of the shares they voted on this item FOR (347,861,199 for, 980,332 against).

FOR 99.6%

FOR: 347,861,199 (99.6%)AGAINST: 980,332 (0.3%)ABSTAIN: 240,854 (0.1%)UNKNOWN: 58,697 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Approval of the amended and restated PepsiCo, Inc. Long-Term Incentive Plan.” at PEPSICO INC., 2023-2024
Asset manager	For	Vote
Vanguard	135,882,107	For
BlackRock	39,703,550	For
Fidelity	31,686,605	For
Charles Schwab	19,140,095	For
State Street	13,266,000	For
JPMorgan	9,761,599	For
Capital Group	6,933,295	For
TIAA	6,028,110	For
MFS	5,879,265	For
Dimensional	5,577,447	For
Invesco	5,184,369	For
Jensen Quality Growth Fund Inc	3,716,000	For
INVESTMENT CO OF AMERICA	3,571,607	For
FRANKLIN MANAGED TRUST	3,223,083	For
Franklin Custodian Funds	3,115,845	For
T. Rowe Price	3,025,525	For
Columbia Threadneedle	2,881,045	For
ProShares	2,673,526	For
American Century	2,227,103	For
MASTER INVESTMENT PORTFOLIO	2,177,405	For
WisdomTree	2,095,447	For
AMG FUNDS	1,945,000	For
Jackson National	1,932,926	For
First Trust	1,851,690	For
Victory Capital	1,634,313	For

Showing the 25 largest of 263 asset managers. See all 263 in the interactive database.

4. Shareholder Proposal - Report on Gender- Based Compensation Gaps and Associated Risks.

DIVERSITY, EQUITY, AND INCLUSIONMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

2% Majority: no · of votes cast

AGAINST 98%

FOR: 18,365,513AGAINST: 965,634,403

PEPSICO INC.’s own tally for this item (“(6) The shareholders voted against a shareholder proposal regarding a report on gender-based compensation gaps and associated risks:”): 18,365,513 for, 965,634,403 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 1% for, 70% against (72% of the company cast a for/against vote).

The 254 asset managers below cast 0.6% of the shares they voted on this item FOR (1,804,809 for, 346,189,166 against).

AGAINST 99.0%

FOR: 1,804,809 (0.5%)AGAINST: 346,189,166 (99.1%)ABSTAIN: 1,298,013 (0.4%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 6,960 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Report on Gender- Based Compensation Gaps and Associated Risks.” at PEPSICO INC., 2023-2024
Asset manager	Against	Vote
Vanguard	135,882,107	Against
BlackRock	39,703,550	Against
Fidelity	31,686,605	Against
Charles Schwab	19,140,095	Against
State Street	13,266,000	Against
JPMorgan	9,761,599	Against
Capital Group	6,933,295	Against
TIAA	6,028,110	Against
MFS	5,879,265	Against
Dimensional	5,577,447	Against
Invesco	5,184,369	Against
Jensen Quality Growth Fund Inc	3,716,000	Against
INVESTMENT CO OF AMERICA	3,571,607	Against
FRANKLIN MANAGED TRUST	3,223,083	Against
Franklin Custodian Funds	3,115,845	Against
T. Rowe Price	3,025,525	Against
Columbia Threadneedle	2,881,045	Against
ProShares	2,673,526	Against
American Century	2,227,103	Against
MASTER INVESTMENT PORTFOLIO	2,177,405	Against
WisdomTree	2,095,447	Against
AMG FUNDS	1,945,000	Against
Jackson National	1,932,926	Against
First Trust	1,851,690	Against
Victory Capital	1,634,313	Against

Showing the 25 largest of 254 asset managers. See all 254 in the interactive database.

5. Ratification of appointment of KPMG LLP as our independent registered public accounting firm for fiscal year 2024.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 8 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 1,105,513,902AGAINST: 73,973,820

PEPSICO INC.’s own tally for this item (“(2) The shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for PepsiCo for fiscal year 2024:”): 1,105,513,902 for, 73,973,820 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 80% for, 5% against (86% of the company cast a for/against vote).

The 250 asset managers below cast 99.0% of the shares they voted on this item FOR (347,367,654 for, 3,270,950 against).

FOR 99.0%

FOR: 347,367,654 (99.0%)AGAINST: 3,270,950 (0.9%)ABSTAIN: 171,545 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Ratification of appointment of KPMG LLP as our independent registered public accounting firm for fiscal year 2” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	134,460,407	1,421,700	For
BlackRock	39,703,550	0	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,532	468	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 250 asset managers. See all 250 in the interactive database.

6. Shareholder Proposal - Report on Risks Created by the Company's Diversity, Equity and Inclusion Efforts.

DIVERSITY, EQUITY, AND INCLUSIONMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 13 wordings of this item as funds reported it.

3% Majority: no · of votes cast

AGAINST 97%

FOR: 27,063,961AGAINST: 954,327,466

PEPSICO INC.’s own tally for this item (“(11) The shareholders voted against a shareholder proposal regarding a report on risks created by the Company's diversity, equity and inclusion efforts:”): 27,063,961 for, 954,327,466 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 2% for, 69% against (71% of the company cast a for/against vote).

The 246 asset managers below cast 0.2% of the shares they voted on this item FOR (647,299 for, 346,015,016 against).

AGAINST 99.0%

FOR: 647,299 (0.2%)AGAINST: 346,015,016 (99.0%)ABSTAIN: 2,729,074 (0.8%)UNKNOWN: 16,911 (0.0%)NOT VOTED: 4,810 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Report on Risks Created by the Company's Diversity, Equity and Inclusion Efforts.” at PEPSICO INC., 2023-2024
Asset manager	Against	Vote
Vanguard	135,882,107	Against
BlackRock	39,703,550	Against
Fidelity	31,686,605	Against
Charles Schwab	19,140,095	Against
State Street	13,266,000	Against
JPMorgan	9,761,599	Against
Capital Group	6,933,295	Against
TIAA	6,028,110	Against
MFS	5,879,265	Against
Dimensional	5,577,447	Against
Invesco	5,184,369	Against
Jensen Quality Growth Fund Inc	3,716,000	Against
INVESTMENT CO OF AMERICA	3,571,607	Against
FRANKLIN MANAGED TRUST	3,223,083	Against
Franklin Custodian Funds	3,115,845	Against
T. Rowe Price	3,025,525	Against
Columbia Threadneedle	2,881,045	Against
ProShares	2,673,526	Against
American Century	2,227,103	Against
MASTER INVESTMENT PORTFOLIO	2,177,405	Against
WisdomTree	2,095,447	Against
AMG FUNDS	1,945,000	Against
Jackson National	1,932,926	Against
First Trust	1,851,690	Against
Victory Capital	1,634,313	Against

Showing the 25 largest of 246 asset managers. See all 246 in the interactive database.

7. Shareholder Proposal - Third-Party Racial Equity Audit.

DIVERSITY, EQUITY, AND INCLUSIONMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

20% Majority: no · of votes cast

FOR 20%AGAINST 80%

FOR: 196,593,851AGAINST: 786,489,111

PEPSICO INC.’s own tally for this item (“(10) The shareholders voted against a shareholder proposal regarding a third-party racial equity audit:”): 196,593,851 for, 786,489,111 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 14% for, 57% against (72% of the company cast a for/against vote).

The 245 asset managers below cast 6% of the shares they voted on this item FOR (19,494,433 for, 327,078,172 against).

AGAINST 94%

FOR: 19,494,433 (5.6%)AGAINST: 327,078,172 (93.6%)ABSTAIN: 2,729,049 (0.8%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,810 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Third-Party Racial Equity Audit.” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	205,599	135,676,508	Against
BlackRock	27,236	39,676,314	Against
Fidelity	0	31,686,605	Against
Charles Schwab	0	19,140,095	Against
State Street	2,805	13,263,195	Against
JPMorgan	0	9,761,599	Against
Capital Group	0	6,933,295	Against
TIAA	0	6,028,110	Against
MFS	0	5,879,265	Against
Dimensional	0	5,577,447	Against
Invesco	0	5,184,369	Against
Jensen Quality Growth Fund Inc	0	3,716,000	Against
INVESTMENT CO OF AMERICA	0	3,571,607	Against
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	0	3,025,525	Against
Columbia Threadneedle	0	2,881,045	Against
ProShares	0	2,673,526	Against
American Century	0	2,227,103	Against
MASTER INVESTMENT PORTFOLIO	0	2,177,405	Against
WisdomTree	0	2,095,447	Against
AMG FUNDS	0	1,945,000	Against
Jackson National	40,000	1,892,926	Against
First Trust	0	1,851,690	Against
Victory Capital	1,622,862	11,451	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

8. Election of Directors: Segun Agbaje

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 992,587,294AGAINST: 5,844,363

PEPSICO INC.’s own tally for this item (“Elect Director: Segun Agbaje”): 992,587,294 for, 5,844,363 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 72% for, 0.5% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.9% of the shares they voted on this item FOR (349,070,253 for, 23,755 against).

FOR 99.9%

FOR: 349,070,253 (99.9%)AGAINST: 23,755 (0.0%)ABSTAIN: 173,982 (0.0%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Segun Agbaje” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,520	480	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

9. Election of Directors: Jennifer Bailey

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 994,399,501AGAINST: 4,293,659

PEPSICO INC.’s own tally for this item (“Elect Director: Jennifer Bailey”): 994,399,501 for, 4,293,659 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 72% for, 0.4% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.9% of the shares they voted on this item FOR (349,057,475 for, 37,678 against).

FOR 99.9%

FOR: 349,057,475 (99.9%)AGAINST: 37,678 (0.0%)ABSTAIN: 173,965 (0.0%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Jennifer Bailey” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,520	480	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

10. Election of Directors: Cesar Conde

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 953,874,248AGAINST: 44,579,459

PEPSICO INC.’s own tally for this item (“Elect Director: Cesar Conde”): 953,874,248 for, 44,579,459 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 69% for, 3% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.8% of the shares they voted on this item FOR (348,574,737 for, 474,494 against).

FOR 99.7%

FOR: 348,574,737 (99.8%)AGAINST: 474,494 (0.1%)ABSTAIN: 173,981 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Cesar Conde” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,687,601	15,949	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,264,833	1,167	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

11. Election of Directors: Ian Cook

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 953,553,268AGAINST: 44,954,817

PEPSICO INC.’s own tally for this item (“Elect Director: Ian Cook”): 953,553,268 for, 44,954,817 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 69% for, 3% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.7% of the shares they voted on this item FOR (348,288,169 for, 761,067 against).

FOR 99.7%

FOR: 348,288,169 (99.7%)AGAINST: 761,067 (0.2%)ABSTAIN: 173,976 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Ian Cook” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,687,601	15,949	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,264,364	1,636	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

12. Election of Directors: Edith W. Cooper

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 10 wordings of this item as funds reported it.

99.3% Majority: yes · of votes cast

FOR 99.3%

FOR: 992,624,109AGAINST: 6,028,107

PEPSICO INC.’s own tally for this item (“Elect Director: Edith W. Cooper”): 992,624,109 for, 6,028,107 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 72% for, 0.5% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.9% of the shares they voted on this item FOR (349,057,384 for, 37,767 against).

FOR 99.9%

FOR: 349,057,384 (99.9%)AGAINST: 37,767 (0.0%)ABSTAIN: 173,967 (0.0%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Edith W. Cooper” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,520	480	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

13. Election of Directors: Susan M. Diamond

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 10 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 992,923,590AGAINST: 5,712,787

PEPSICO INC.’s own tally for this item (“Elect Director: Susan M. Diamond”): 992,923,590 for, 5,712,787 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 72% for, 0.5% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.9% of the shares they voted on this item FOR (349,057,406 for, 37,743 against).

FOR 99.9%

FOR: 349,057,406 (99.9%)AGAINST: 37,743 (0.0%)ABSTAIN: 173,969 (0.0%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Susan M. Diamond” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,520	480	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

14. Election of Directors: Dina Dublon

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 959,868,064AGAINST: 38,761,955

PEPSICO INC.’s own tally for this item (“Elect Director: Dina Dublon”): 959,868,064 for, 38,761,955 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 70% for, 3% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.8% of the shares they voted on this item FOR (348,361,184 for, 688,059 against).

FOR 99.7%

FOR: 348,361,184 (99.7%)AGAINST: 688,059 (0.2%)ABSTAIN: 173,969 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Dina Dublon” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,052	948	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

15. Election of Directors: Michelle Gass

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 993,493,679AGAINST: 5,104,039

PEPSICO INC.’s own tally for this item (“Elect Director: Michelle Gass”): 993,493,679 for, 5,104,039 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 72% for, 0.4% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.9% of the shares they voted on this item FOR (349,057,446 for, 17,437 against).

FOR 99.9%

FOR: 349,057,446 (99.9%)AGAINST: 17,437 (0.0%)ABSTAIN: 194,234 (0.1%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Michelle Gass” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,520	480	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

16. Election of Directors: Ramon L. Laguarta

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 10 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%7%

FOR: 924,777,433AGAINST: 69,970,707

PEPSICO INC.’s own tally for this item (“Elect Director: Ramon L. Laguarta”): 924,777,433 for, 69,970,707 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 67% for, 5% against (72% of the company cast a for/against vote).

The 245 asset managers below cast 99.8% of the shares they voted on this item FOR (348,633,099 for, 415,843 against).

FOR 99.8%

FOR: 348,633,099 (99.8%)AGAINST: 415,843 (0.1%)ABSTAIN: 174,271 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Ramon L. Laguarta” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,455	545	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

17. Election of Directors: Dave J. Lewis

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 993,610,225AGAINST: 4,916,597

PEPSICO INC.’s own tally for this item (“Elect Director: Dave J. Lewis”): 993,610,225 for, 4,916,597 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 72% for, 0.4% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.9% of the shares they voted on this item FOR (349,077,745 for, 17,397 against).

FOR 99.9%

FOR: 349,077,745 (99.9%)AGAINST: 17,397 (0.0%)ABSTAIN: 173,976 (0.0%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Dave J. Lewis” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,520	480	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

18. Election of Directors: David C. Page

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 981,671,677AGAINST: 16,776,735

PEPSICO INC.’s own tally for this item (“Elect Director: David C. Page, MD”): 981,671,677 for, 16,776,735 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 71% for, 1% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.9% of the shares they voted on this item FOR (348,894,563 for, 154,667 against).

FOR 99.8%

FOR: 348,894,563 (99.9%)AGAINST: 154,667 (0.0%)ABSTAIN: 173,982 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: David C. Page” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,520	480	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

19. Election of Directors: Robert C. Pohlad

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 10 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 961,311,025AGAINST: 37,291,829

PEPSICO INC.’s own tally for this item (“Elect Director: Robert C. Pohlad”): 961,311,025 for, 37,291,829 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 70% for, 3% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.7% of the shares they voted on this item FOR (348,103,811 for, 945,435 against).

FOR 99.6%

FOR: 348,103,811 (99.7%)AGAINST: 945,435 (0.3%)ABSTAIN: 173,966 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Robert C. Pohlad” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,687,601	15,949	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,264,833	1,167	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

20. Election of Directors: Daniel Vasella

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 946,402,520AGAINST: 52,026,331

PEPSICO INC.’s own tally for this item (“Elect Director: Daniel Vasella, MD”): 946,402,520 for, 52,026,331 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 69% for, 4% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.7% of the shares they voted on this item FOR (348,062,759 for, 986,470 against).

FOR 99.6%

FOR: 348,062,759 (99.7%)AGAINST: 986,470 (0.3%)ABSTAIN: 173,983 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Daniel Vasella” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,687,601	15,949	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,264,364	1,636	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

21. Election of Directors: Darren Walker

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 979,013,353AGAINST: 19,436,522

PEPSICO INC.’s own tally for this item (“Elect Director: Darren Walker”): 979,013,353 for, 19,436,522 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 71% for, 1% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.8% of the shares they voted on this item FOR (348,740,272 for, 354,864 against).

FOR 99.8%

FOR: 348,740,272 (99.8%)AGAINST: 354,864 (0.1%)ABSTAIN: 173,982 (0.0%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Darren Walker” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,687,601	15,949	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,264,833	1,167	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

22. Election of Directors: Alberto Weisser

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 9 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 961,094,583AGAINST: 36,993,363

PEPSICO INC.’s own tally for this item (“Elect Director: Alberto Weisser”): 961,094,583 for, 36,993,363 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 70% for, 3% against (73% of the company cast a for/against vote).

The 245 asset managers below cast 99.8% of the shares they voted on this item FOR (348,608,944 for, 440,259 against).

FOR 99.8%

FOR: 348,608,944 (99.8%)AGAINST: 440,259 (0.1%)ABSTAIN: 174,009 (0.0%)UNKNOWN: 57,032 (0.0%)NOT VOTED: 4,281 (0.0%)

Largest asset managers voting on “Election of Directors: Alberto Weisser” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	135,882,107	0	For
BlackRock	39,697,750	5,800	For
Fidelity	31,686,605	0	For
Charles Schwab	19,140,095	0	For
State Street	13,265,052	948	For
JPMorgan	9,761,599	0	For
Capital Group	6,933,295	0	For
TIAA	6,028,110	0	For
MFS	5,879,265	0	For
Dimensional	5,577,447	0	For
Invesco	5,184,369	0	For
Jensen Quality Growth Fund Inc	3,716,000	0	For
INVESTMENT CO OF AMERICA	3,571,607	0	For
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	3,115,845	0	For
T. Rowe Price	3,025,525	0	For
Columbia Threadneedle	2,881,045	0	For
ProShares	2,673,526	0	For
American Century	2,227,103	0	For
MASTER INVESTMENT PORTFOLIO	2,177,405	0	For
WisdomTree	2,095,447	0	For
AMG FUNDS	1,945,000	0	For
Jackson National	1,932,926	0	For
First Trust	1,851,690	0	For
Victory Capital	1,634,313	0	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

23. Shareholder Proposal - Third-Party Assessment on Non-Sugar Sweetener Risks.

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCEMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 7 wordings of this item as funds reported it.

11% Majority: no · of votes cast

11%AGAINST 89%

FOR: 112,324,772AGAINST: 868,039,261

PEPSICO INC.’s own tally for this item (“(8) The shareholders voted against a shareholder proposal regarding a third-party assessment on non-sugar sweetener risks:”): 112,324,772 for, 868,039,261 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 8% for, 63% against (71% of the company cast a for/against vote).

The 245 asset managers below cast 2% of the shares they voted on this item FOR (8,294,810 for, 339,833,191 against).

AGAINST 97%

FOR: 8,294,810 (2.4%)AGAINST: 339,833,191 (97.2%)ABSTAIN: 1,301,158 (0.4%)UNKNOWN: 51,247 (0.0%)NOT VOTED: 4,810 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Third-Party Assessment on Non-Sugar Sweetener Risks.” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	0	135,882,107	Against
BlackRock	15,949	39,687,601	Against
Fidelity	0	31,686,605	Against
Charles Schwab	0	19,140,095	Against
State Street	2,805	13,263,195	Against
JPMorgan	0	9,761,599	Against
Capital Group	0	6,933,295	Against
TIAA	0	6,028,110	Against
MFS	0	5,879,265	Against
Dimensional	0	5,577,447	Against
Invesco	0	5,184,369	Against
Jensen Quality Growth Fund Inc	0	3,716,000	Against
INVESTMENT CO OF AMERICA	0	3,571,607	Against
FRANKLIN MANAGED TRUST	0	3,223,083	Against
Franklin Custodian Funds	2,500,000	615,845	For
T. Rowe Price	0	3,025,525	Against
Columbia Threadneedle	0	2,881,045	Against
ProShares	0	2,673,526	Against
American Century	0	2,227,103	Against
MASTER INVESTMENT PORTFOLIO	0	2,177,405	Against
WisdomTree	0	2,095,447	Against
AMG FUNDS	0	1,945,000	Against
Jackson National	40,000	1,892,926	Against
First Trust	0	1,851,690	Against
Victory Capital	1,622,862	11,451	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

24. Shareholder Proposal - Report on Risks Related to Biodiversity and Nature Loss.

ENVIRONMENT OR CLIMATEMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 7 wordings of this item as funds reported it.

18% Majority: no · of votes cast

FOR 18%AGAINST 82%

FOR: 178,018,946AGAINST: 790,567,899

PEPSICO INC.’s own tally for this item (“(9) The shareholders voted against a shareholder proposal regarding a report on risks related to biodiversity and nature loss:”): 178,018,946 for, 790,567,899 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 13% for, 58% against (70% of the company cast a for/against vote).

The 245 asset managers below cast 3% of the shares they voted on this item FOR (11,207,127 for, 335,918,666 against).

AGAINST 96%

FOR: 11,207,127 (3.2%)AGAINST: 335,918,666 (96.1%)ABSTAIN: 2,343,486 (0.7%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,810 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Report on Risks Related to Biodiversity and Nature Loss.” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
Vanguard	0	135,882,107	0	Against
BlackRock	15,949	39,687,601	0	Against
Fidelity	401,873	31,284,732	0	Against
Charles Schwab	0	19,140,095	0	Against
State Street	2,805	13,263,195	0	Against
JPMorgan	0	9,761,599	0	Against
Capital Group	0	6,933,295	0	Against
TIAA	0	6,028,110	0	Against
MFS	0	5,879,265	0	Against
Dimensional	0	5,577,447	0	Against
Invesco	0	5,184,369	0	Against
Jensen Quality Growth Fund Inc	0	3,716,000	0	Against
INVESTMENT CO OF AMERICA	0	3,571,607	0	Against
FRANKLIN MANAGED TRUST	0	3,223,083	0	Against
Franklin Custodian Funds	2,500,000	615,845	0	For
T. Rowe Price	0	3,025,525	0	Against
Columbia Threadneedle	0	2,881,045	0	Against
ProShares	0	2,673,526	0	Against
American Century	0	2,227,103	0	Against
MASTER INVESTMENT PORTFOLIO	0	2,177,405	0	Against
WisdomTree	0	2,095,447	0	Against
AMG FUNDS	0	1,945,000	0	Against
Jackson National	40,000	1,892,926	0	Against
First Trust	0	1,851,690	0	Against
Victory Capital	1,622,862	0	11,451	For

Showing the 25 largest of 245 asset managers. See all 245 in the interactive database.

25. Shareholder Proposal - Director Election Resignation Bylaw.

CORPORATE GOVERNANCEMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 6 wordings of this item as funds reported it.

18% Majority: no · of votes cast

FOR 18%AGAINST 82%

FOR: 176,880,527AGAINST: 812,849,879

PEPSICO INC.’s own tally for this item (“(7) The shareholders voted against a shareholder proposal regarding a director election resignation bylaw:”): 176,880,527 for, 812,849,879 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 13% for, 59% against (72% of the company cast a for/against vote).

The 244 asset managers below cast 11% of the shares they voted on this item FOR (39,566,100 for, 309,497,272 against).

11%AGAINST 89%

FOR: 39,566,100 (11.3%)AGAINST: 309,497,272 (88.6%)ABSTAIN: 204,021 (0.1%)UNKNOWN: 11,126 (0.0%)NOT VOTED: 4,310 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Director Election Resignation Bylaw.” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Vote
Vanguard	205,599	135,676,508	Against
BlackRock	29,922	39,673,628	Against
Fidelity	4,206,098	27,480,507	Against
Charles Schwab	19,140,095	0	For
State Street	468	13,265,532	Against
JPMorgan	0	9,761,599	Against
Capital Group	0	6,933,295	Against
TIAA	0	6,028,110	Against
MFS	0	5,879,265	Against
Dimensional	0	5,577,447	Against
Invesco	0	5,184,369	Against
Jensen Quality Growth Fund Inc	0	3,716,000	Against
INVESTMENT CO OF AMERICA	0	3,571,607	Against
FRANKLIN MANAGED TRUST	3,223,083	0	For
Franklin Custodian Funds	615,845	2,500,000	Against
T. Rowe Price	0	3,025,525	Against
Columbia Threadneedle	0	2,881,045	Against
ProShares	0	2,673,526	Against
American Century	0	2,227,103	Against
MASTER INVESTMENT PORTFOLIO	0	2,177,405	Against
WisdomTree	0	2,095,447	Against
AMG FUNDS	1,945,000	0	For
Jackson National	0	1,932,926	Against
First Trust	0	1,851,690	Against
Victory Capital	0	1,634,313	Against

Showing the 25 largest of 244 asset managers. See all 244 in the interactive database.

26. Shareholder Proposal - Global Transparency Report.

OTHER SOCIAL ISSUESMajority of the votes cast: no

Meeting held 2024-05-01.

Combines 6 wordings of this item as funds reported it.

15% Majority: no · of votes cast

FOR 15%AGAINST 85%

FOR: 146,027,052AGAINST: 831,047,798

PEPSICO INC.’s own tally for this item (“(12) The shareholders voted against a shareholder proposal regarding a global transparency report:”): 146,027,052 for, 831,047,798 against, per its Form 8-K (Item 5.07). FOR was not more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 11% for, 60% against (71% of the company cast a for/against vote).

The 236 asset managers below cast 3% of the shares they voted on this item FOR (8,835,154 for, 295,415,715 against).

AGAINST 96%

FOR: 8,835,154 (2.9%)AGAINST: 295,415,715 (96.2%)ABSTAIN: 2,720,616 (0.9%)UNKNOWN: 51,247 (0.0%)NOT VOTED: 4,810 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Global Transparency Report.” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
Vanguard	0	135,882,107	0	Against
Fidelity	0	31,686,605	0	Against
Charles Schwab	0	19,140,095	0	Against
State Street	2,805	13,263,195	0	Against
JPMorgan	0	9,761,599	0	Against
Capital Group	0	6,933,295	0	Against
TIAA	0	6,028,110	0	Against
MFS	0	5,879,265	0	Against
Dimensional	0	5,577,447	0	Against
Invesco	0	5,184,369	0	Against
Jensen Quality Growth Fund Inc	0	3,716,000	0	Against
INVESTMENT CO OF AMERICA	0	3,571,607	0	Against
FRANKLIN MANAGED TRUST	0	3,223,083	0	Against
Franklin Custodian Funds	2,500,000	615,845	0	For
T. Rowe Price	0	3,025,525	0	Against
Columbia Threadneedle	0	2,881,045	0	Against
ProShares	0	2,673,526	0	Against
American Century	0	2,227,103	0	Against
WisdomTree	0	2,095,447	0	Against
AMG FUNDS	0	1,945,000	0	Against
Jackson National	40,000	1,892,926	0	Against
First Trust	0	1,851,690	0	Against
Victory Capital	1,622,862	11,451	0	For
CITY NATIONAL ROCHDALE FUNDS	0	1,448,969	0	Against
DIAMOND HILL FUNDS	0	0	1,402,735	Abstain

Showing the 25 largest of 236 asset managers. See all 236 in the interactive database.

27. Advisory Vote to Ratify Named Executive Officers' Compensation

SECTION 14A SAY-ON-PAY VOTESCOMPENSATIONMajority of the votes cast: yes

Meeting held 2024-05-01.

90% Majority: yes · of votes cast

FOR 90%10%

FOR: 889,447,400AGAINST: 102,710,531

The 51 asset managers below cast 96% of the shares they voted on this item FOR (25,433,016 for, 1,149,594 against).

FOR 96%

FOR: 25,433,016 (95.6%)AGAINST: 1,149,594 (4.3%)ABSTAIN: 8,900 (0.0%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
JPMorgan	10,849,535	0	0	For
NORDEA INVESTMENT MANAGEMENT AB	3,742,307	0	0	For
APG Asset Management US Inc.	3,612,139	0	0	For
TD ASSET MANAGEMENT INC	1,632,657	0	0	For
ADAGE CAPITAL PARTNERS GP, L.L.C.	1,220,379	0	0	For
RWC Asset Management LLP	1,210,000	0	0	For
STOREBRAND ASSET MANAGEMENT AS	1,057,770	0	0	For
Tredje AP-fonden	552,627	0	0	For
Troy Asset Management Ltd	443,537	0	0	For
FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND	0	396,108	0	Against
Desjardins Global Asset Management Inc.	0	367,896	0	Against
Cardano Risk Management B.V.	0	361,239	0	Against
Empower	264,094	0	0	For
iA Global Asset Management Inc.	156,751	0	0	For
Swiss Life Asset Management Ltd	151,664	0	0	For
Metzler Asset Management GmbH	122,668	0	0	For
Ninety One UK Ltd	104,990	0	0	For
Wesleyan Assurance Society	64,300	0	0	For
Vinva Investment Management Ltd	56,677	0	0	For
OSSIAM	38,410	0	0	For
Regime de rentes du Mouvement Desjardins	0	23,951	0	Against
Brighthouse	21,359	0	0	For
Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma	15,991	0	0	For
Union Investment Privatfonds GmbH	15,699	0	0	For
Symmetry Panoramic Trust	4,328	0	8,900	Abstain

Showing the 25 largest of 51 asset managers. See all 51 in the interactive database.

28. SECTION 14A EXECUTIVE COMPENSATION

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2024-05-01.

90% Majority: yes · of votes cast

FOR 90%10%

FOR: 889,447,400AGAINST: 102,710,531

The 33 asset managers below cast 99% of the shares they voted on this item FOR (184,240 for, 2,724 against).

FOR 98%

FOR: 184,240 (98.3%)AGAINST: 2,724 (1.5%)ABSTAIN: 482 (0.3%)

Largest asset managers voting on “SECTION 14A EXECUTIVE COMPENSATION” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
Penobscot Investment Management Company, Inc.	52,321	0	0	For
Granite Investment Partners, LLC	37,397	0	0	For
GRIMES & COMPANY, INC.	23,130	0	0	For
Ramsay, Stattman, Vela & Price, Inc.	21,758	0	0	For
Brookmont Capital Management	15,314	0	0	For
GYL FINANCIAL SYNERGIES, LLC	10,008	0	0	For
BALLAST ADVISORS LLC	7,547	0	0	For
VALUED ADVISERS TRUST	4,000	0	0	For
Baker Avenue Asset Management, LP	3,028	0	0	For
Lido Advisors, LLC	2,065	0	0	For
TOWNSEND ASSET MANAGEMENT CORP /NC/ /ADV	1,988	0	0	For
PEDDOCK CAPITAL ADVISORS, LLC	1,522	0	0	For
Campion Asset Management	0	1,145	0	Against
WOODARD & CO ASSET MANAGEMENT GROUP INC /ADV	0	1,062	0	Against
Waverly Advisors, LLC	896	0	0	For
ZIMMERMANN INVESTMENT MANAGEMENT & PLANNING LLC	869	0	0	For
ASPIRIANT, LLC	270	0	452	Abstain
Palisades Hudson Asset Management, L.P.	556	0	0	For
O'Brien Wealth Partners LLC	0	517	0	Against
Hedges Asset Management LLC	300	0	0	For
Mirae Asset Global Investments (USA) LLC	269	0	0	For
ESL Trust Services, LLC	250	0	0	For
Barnett & Company, Inc.	241	0	0	For
BOSUN ASSET MANAGEMENT, LLC	205	0	0	For
FORUM FUNDS II	200	0	0	For

Showing the 25 largest of 33 asset managers. See all 33 in the interactive database.

29. Submit Severance Agreement (Change-in-Control) to Shareholder Vote

COMPENSATION

Meeting held 2024-05-01.

5% fund support · no official result

AGAINST 95%

The 14 asset managers below cast 5% of the shares they voted on this item FOR (2,041,845 for, 42,435,927 against).

FOR: 2,041,845 (4.6%)AGAINST: 42,435,927 (95.4%)ABSTAIN: 8,900 (0.0%)

Largest asset managers voting on “Submit Severance Agreement (Change-in-Control) to Shareholder Vote” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
BlackRock	0	39,703,550	0	Against
MASTER INVESTMENT PORTFOLIO	0	2,177,405	0	Against
RWC Asset Management LLP	2,040,670	0	0	For
Empower	0	264,094	0	Against
iA Global Asset Management Inc.	0	156,751	0	Against
Wesleyan Assurance Society	0	64,300	0	Against
Managed Account Series	0	21,370	0	Against
Brighthouse	0	21,359	0	Against
Symmetry Panoramic Trust	0	4,328	8,900	Abstain
Vontobel Holding Ltd.	0	6,000	0	Against
Tidal Trust III	0	5,792	0	Against
Hanson & Doremus Investment Management	0	5,492	0	Against
Douglass Winthrop Advisors, LLC	0	5,486	0	Against
Warren Street Wealth Advisors, LLC	1,175	0	0	For

30. Amend Omnibus Stock Plan

COMPENSATIONMajority of the votes cast: yes

Meeting held 2024-05-01.

95% Majority: yes · of votes cast

FOR 95%

FOR: 942,110,924AGAINST: 50,972,522

The 12 asset managers below cast 99.0% of the shares they voted on this item FOR (2,575,447 for, 23,951 against).

FOR 99%

FOR: 2,575,447 (98.7%)AGAINST: 23,951 (0.9%)ABSTAIN: 8,900 (0.3%)

Largest asset managers voting on “Amend Omnibus Stock Plan” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
RWC Asset Management LLP	2,040,670	0	0	For
Empower	264,094	0	0	For
iA Global Asset Management Inc.	156,751	0	0	For
Wesleyan Assurance Society	64,300	0	0	For
Regime de rentes du Mouvement Desjardins	0	23,951	0	Against
Brighthouse	21,359	0	0	For
Symmetry Panoramic Trust	4,328	0	8,900	Abstain
Vontobel Holding Ltd.	6,000	0	0	For
Tidal Trust III	5,792	0	0	For
Hanson & Doremus Investment Management	5,492	0	0	For
Douglass Winthrop Advisors, LLC	5,486	0	0	For
Warren Street Wealth Advisors, LLC	1,175	0	0	For

31. Amend Stock Compensation Plan

COMPENSATIONMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 2 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 942,110,924AGAINST: 50,972,522

The 10 asset managers below cast 100% of the shares they voted on this item FOR (45,739 for, 0 against).

FOR 100%

FOR: 45,739 (100.0%)

Largest asset managers voting on “Amend Stock Compensation Plan” at PEPSICO INC., 2023-2024
Asset manager	For	Vote
GRIMES & COMPANY, INC.	23,130	For
HARBOUR INVESTMENT MANAGEMENT LLC	16,730	For
VALUED ADVISERS TRUST	4,000	For
ZIMMERMANN INVESTMENT MANAGEMENT & PLANNING LLC	869	For
Mirae Asset Global Investments (USA) LLC	269	For
ESL Trust Services, LLC	250	For
BOSUN ASSET MANAGEMENT, LLC	205	For
FORUM FUNDS II	200	For
Sculati Wealth Management, LLC	50	For
Simplify Exchange Traded Funds	36	For

32. Issue Transparency Report on Global Public Policy and Political Influence

OTHER SOCIAL ISSUES

Meeting held 2024-05-01.

0.7% fund support · no official result

AGAINST 99.3%

The 9 asset managers below cast 0.7% of the shares they voted on this item FOR (271,329 for, 42,007,924 against).

FOR: 271,329 (0.6%)AGAINST: 42,007,924 (99.3%)ABSTAIN: 8,900 (0.0%)

Largest asset managers voting on “Issue Transparency Report on Global Public Policy and Political Influence” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
BlackRock	22,129	39,681,421	0	Against
MASTER INVESTMENT PORTFOLIO	0	2,177,405	0	Against
Empower	162,053	102,041	0	For
RWC Asset Management LLP	80,180	0	0	For
Managed Account Series	0	21,370	0	Against
Brighthouse	0	21,359	0	Against
Symmetry Panoramic Trust	0	4,328	8,900	Abstain
Tidal Trust III	5,792	0	0	For
Warren Street Wealth Advisors, LLC	1,175	0	0	For

33. S/H Proposal - Create a Non-Discriminatory Sexual Orientation Policy

DIVERSITY, EQUITY, AND INCLUSION

Meeting held 2024-05-01.

Combines 4 wordings of this item as funds reported it.

64% fund support · no official result

ABSTAIN 94%

The 7 asset managers below cast 64% of the shares they voted on this item FOR (869 for, 486 against).

FOR: 869 (3.9%)AGAINST: 486 (2.2%)ABSTAIN: 20,730 (93.7%)NOT VOTED: 29 (0.1%)

Largest asset managers voting on “S/H Proposal - Create a Non-Discriminatory Sexual Orientation Policy” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	16,730	Abstain
VALUED ADVISERS TRUST	0	0	4,000	Abstain
ZIMMERMANN INVESTMENT MANAGEMENT & PLANNING LLC	869	0	0	For
ESL Trust Services, LLC	0	250	0	Against
FORUM FUNDS II	0	200	0	Against
Simplify Exchange Traded Funds	0	36	0	Against
DOCK STREET ASSET MANAGEMENT INC	0	0	0	Not Voted

34. Advisory approval of the Company's executive compensation.

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-05-07 (outside the 2023-2024 season's 1 July to 30 June window; reported in this season's filings).

Combines 3 wordings of this item as funds reported it.

87% Majority: yes · of votes cast

FOR 87%13%

FOR: 866,270,459AGAINST: 131,062,509

PEPSICO INC.’s own tally for this item (“(3) The shareholders approved, on an advisory basis, PepsiCo's executive compensation:”): 866,270,459 for, 131,062,509 against, per its Form 8-K (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 1,374,785,980 outstanding shares: 63% for, 10% against (73% of the company cast a for/against vote).

The 5 asset managers below cast 100% of the shares they voted on this item FOR (9,027 for, 0 against).

FOR 100%

FOR: 9,027 (100.0%)

Largest asset managers voting on “Advisory approval of the Company's executive compensation.” at PEPSICO INC., 2023-2024
Asset manager	For	Vote
Argyle Capital Management, LLC	3,325	For
First County Bank /CT/	3,019	For
Meixler Investment Management, Ltd.	1,290	For
Freedom Day Solutions, LLC	1,134	For
Weil Company, Inc.	259	For

35. S/H Proposal - Corporate Governance

CORPORATE GOVERNANCE

Meeting held 2024-05-01.

Combines 2 wordings of this item as funds reported it.

33% fund support · no official result

ABSTAIN 99%

The 6 asset managers below cast 33% of the shares they voted on this item FOR (450 for, 905 against).

FOR: 450 (0.4%)AGAINST: 905 (0.7%)ABSTAIN: 124,380 (98.9%)

Largest asset managers voting on “S/H Proposal - Corporate Governance” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	100,380	Abstain
VALUED ADVISERS TRUST	0	0	24,000	Abstain
ZIMMERMANN INVESTMENT MANAGEMENT & PLANNING LLC	0	869	0	Against
ESL Trust Services, LLC	250	0	0	For
FORUM FUNDS II	200	0	0	For
Simplify Exchange Traded Funds	0	36	0	Against

36. S/H Proposal - Add Women & Minorities to Board

DIVERSITY, EQUITY, AND INCLUSION

Meeting held 2024-05-01.

Combines 2 wordings of this item as funds reported it.

0% fund support · no official result

ABSTAIN 94%

The 6 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 1,355 against).

AGAINST: 1,355 (6.1%)ABSTAIN: 20,730 (93.9%)

Largest asset managers voting on “S/H Proposal - Add Women & Minorities to Board” at PEPSICO INC., 2023-2024
Asset manager	Against	Abstain	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	0	16,730	Abstain
VALUED ADVISERS TRUST	0	4,000	Abstain
ZIMMERMANN INVESTMENT MANAGEMENT & PLANNING LLC	869	0	Against
ESL Trust Services, LLC	250	0	Against
FORUM FUNDS II	200	0	Against
Simplify Exchange Traded Funds	36	0	Against

37. Election of Directors (Majority Voting)

DIRECTOR ELECTIONS

Meeting held 2024-05-01.

All nominees (reported as one line). These filers reported the election of directors as a single line covering every nominee. It is not attributed to any one director, and no share total is shown for it.

Combines 2 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 6 asset managers below cast 100% of the shares they voted on this item FOR.

FOR: 100.0%

Largest asset managers voting on “Election of Directors (Majority Voting)” at PEPSICO INC., 2023-2024
Asset manager	For	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	250,950	For
VALUED ADVISERS TRUST	60,000	For
ZIMMERMANN INVESTMENT MANAGEMENT & PLANNING LLC	869	For
ESL Trust Services, LLC	250	For
FORUM FUNDS II	200	For
Simplify Exchange Traded Funds	36	For

38. Say on pay

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2024-05-01.

Combines 2 wordings of this item as funds reported it.

90% Majority: yes · of votes cast

FOR 90%10%

FOR: 889,447,400AGAINST: 102,710,531

The 5 asset managers below cast 100% of the shares they voted on this item FOR (350,861 for, 0 against).

FOR 100%

FOR: 350,861 (100.0%)

Largest asset managers voting on “Say on pay” at PEPSICO INC., 2023-2024
Asset manager	For	Vote
Empower	345,345	For
Wallace Capital Management Inc.	2,231	For
CAPITAL MANAGEMENT CORP /VA	1,691	For
Gladius Capital Management LP	1,494	For
ArchPoint Investors	100	For

39. Shareholder Proposal Regarding Severance Approval Policy

SECTION 14A SAY-ON-PAY VOTES

Meeting held 2024-05-01.

0% fund support · no official result

AGAINST 100%

The 3 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 27,663 against).

AGAINST: 27,663 (100.0%)

Largest asset managers voting on “Shareholder Proposal Regarding Severance Approval Policy” at PEPSICO INC., 2023-2024
Asset manager	Against	Vote
Union Investment Privatfonds GmbH	15,699	Against
Union Investment Institutional GmbH	11,395	Against
Virtus	569	Against

40. Annual

DIRECTOR ELECTIONS

Meeting held 2024-05-01.

30% fund support · no official result

FOR 30%AGAINST 70%

The 2 asset managers below cast 30% of the shares they voted on this item FOR (130,043 for, 310,499 against).

FOR: 130,043 (29.5%)AGAINST: 310,499 (70.5%)

Largest asset managers voting on “Annual” at PEPSICO INC., 2023-2024
Asset manager	For	Against	Abstain	Withheld	Vote
Colony Group, LLC	126,697	310,499	0	0	Against
PERRITT CAPITAL MANAGEMENT INC	3,346	0	0	0	For

Showing the 40 reported items with the widest manager coverage, of 45 in total. View every item.

Largest PEPSICO INC. shareholders voting in 2023-2024

Ranked by the number of PEPSICO INC. shares each manager voted on the most widely held ballot item of the 2023-2024 meeting, shown as a share of the 1,374,785,980 shares outstanding at the time of that meeting.

Top PEPSICO INC. shareholders by shares voted, 2023-2024
#	Asset manager	% of shares outstanding
1	Vanguard	10.34%
2	BlackRock	6.43%
3	OAK RIDGE INVESTMENTS LLC	3.56%
4	State Street	3.55%
5	Charles Schwab	2.80%
6	Fidelity	2.71%
7	Baron Financial Group, LLC	2.25%
8	GEODE CAPITAL MANAGEMENT, LLC	2.09%
9	Wellington	0.84%
10	JPMorgan	0.84%

Reported PEPSICO INC. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

PEPSICO INC. beneficial owners on record for the 2023-2024 proxy season
Holder	% outstanding	Disclosure
The Vanguard Group	9.55%	DEF14A
BlackRock, Inc.	8.14%	DEF14A
State Street	3.96%	13F
JPMorgan Chase	2.30%	13F
Geode Capital	2.12%	13F
Morgan Stanley	1.81%	13F
Charles Schwab	1.48%	13F
Northern Trust	1.14%	13F
Norges Bank	1.03%	13F
BNY Mellon	1.03%	13F

Percentages above are of 1,374,785,980 shares outstanding, as reported by PEPSICO INC. on its Form 10-Q dated 2024-04-16 (see the filing on EDGAR). This is the count contemporaneous with the 2023-2024 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.

About this page

Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from PEPSICO INC.’s 10-Q dated 2024-04-16. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At PEPSICO INC.'s shareholder meeting held 2024-05-01, in the 2023-2024 proxy season, 1,622 asset managers reported how they voted in their SEC Form N-PX filings, covering 34,872 separate fund positions. Their filings are grouped here into 45 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — Advisory approval of the Company's executive compensation. — FOR was 90% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: PEPSICO INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission (filing date not recorded for this item).

PEPSICO INC. proxy season coverage: 2023-2024 (this page) · 2024-2025 · 2025-2026.