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PEPSICO INC. 2024-2025 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.

42Reported items
1,666Asset managers
27,125Fund votes
2025-05-07Meeting date

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

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

Official 2024-2025 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 2025-05-07
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Segun Agbaje	997,084,816	6,133,424	3,366,147	--	175,136,261	Majority: yes
Elect Director: Jennifer Bailey	998,902,880	4,515,713	3,165,794	--	175,136,261	Majority: yes
Elect Director: Cesar Conde	942,521,900	60,710,229	3,352,258	--	175,136,261	Majority: yes
Elect Director: Ian Cook	960,434,436	43,384,316	2,765,635	--	175,136,261	Majority: yes
Elect Director: Edith W. Cooper	998,937,777	4,996,549	2,650,061	--	175,136,261	Majority: yes
Elect Director: Susan M. Diamond	998,681,181	4,749,332	3,153,874	--	175,136,261	Majority: yes
Elect Director: Dina Dublon	958,176,375	45,833,155	2,574,857	--	175,136,261	Majority: yes
Elect Director: Michelle Gass	998,350,647	5,018,248	3,215,492	--	175,136,261	Majority: yes
Elect Director: Ramon L. Laguarta	919,746,560	80,092,770	6,745,057	--	175,136,261	Majority: yes
Elect Director: Dave J. Lewis	998,640,991	5,187,989	2,755,407	--	175,136,261	Majority: yes
Elect Director: David C. Page, MD	984,600,756	15,804,729	6,178,902	--	175,136,261	Majority: yes
Elect Director: Robert C. Pohlad	944,200,821	59,628,054	2,755,512	--	175,136,261	Majority: yes
Elect Director: Daniel Vasella, MD	950,671,462	53,055,825	2,857,100	--	175,136,261	Majority: yes
Elect Director: Darren Walker	981,718,608	20,245,677	4,620,102	--	175,136,261	Majority: yes
Elect Director: Alberto Weisser	954,913,134	47,944,475	3,726,778	--	175,136,261	Majority: yes
(2) The shareholders ratified the appointment of KPMG LLP as the independent registered public accounting firm for PepsiCo for fiscal year 2025:	1,093,424,839	85,680,360	2,615,449	--	--	Majority: yes
(3) The shareholders approved, on an advisory basis, PepsiCo's executive compensation:	866,270,459	131,062,509	9,251,419	--	175,136,261	Majority: yes
(4) The shareholders voted against a shareholder proposal regarding a third-party assessment on non-sugar sweetener risks:	111,189,815	875,831,227	19,563,345	--	175,136,261	Majority: no
(5) The shareholders voted against a shareholder proposal regarding a third-party racial equity audit:	176,085,051	811,996,840	18,502,496	--	175,136,261	Majority: no
(6) The shareholders voted against a shareholder proposal regarding a report on risks related to biodiversity and nature loss:	174,760,012	815,059,599	16,764,776	--	175,136,261	Majority: no
(7) The shareholders voted against a shareholder proposal regarding sustainable packaging policies for plastics:	154,283,732	835,765,524	16,535,131	--	175,136,261	Majority: no

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

How asset managers voted at the PEPSICO INC. 2024-2025 meeting

Each item below shows how the 1,666 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 2025-05-07.

Combines 37 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 1,371,079,540 outstanding shares: 63% for, 10% against (73% of the company cast a for/against vote).

The 1,505 asset managers below cast 90% of the shares they voted on this item FOR (785,982,591 for, 85,058,832 against).

FOR 90%10%

FOR: 785,982,591 (90.2%)AGAINST: 85,058,832 (9.8%)ABSTAIN: 327,493 (0.0%)NOT VOTED: 164,737 (0.0%)UNKNOWN: 34,550 (0.0%)0: 467 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Advisory approval of the Company's executive compensation.” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	138,869,597	7,788,009	For
BlackRock	88,640,664	38,287	For
Charles Schwab	51,559,613	0	For
State Street	45,454,048	465,652	For
Fidelity	37,087,590	881,372	For
GEODE CAPITAL MANAGEMENT, LLC	32,093,030	0	For
Northern Trust	14,644,042	157,796	For
Legal & General Investment Management Ltd	13,817	14,350,847	Against
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	12,837,005	0	For
Invesco	12,798,692	0	For
Capital Research Global Investors	11,388,308	0	For
FRANKLIN ADVISERS INC	11,074,706	0	For
T. Rowe Price	10,480,429	85,472	For
Wellington	0	9,900,902	Against
JPMorgan	0	9,685,231	Against
BANK OF AMERICA NA	8,291,294	0	For
Capital Group	7,651,419	9,524	For
Nuveen	7,241,618	0	For
Dimensional	7,069,554	0	For
Fisher Asset Management, LLC	6,952,371	0	For
MELLON INVESTMENTS Corp	6,545,257	0	For
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM	6,463,686	0	For
UBS	5,860,977	147,826	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For

Showing the 25 largest of 1,505 asset managers. See all 1,505 in the interactive database.

2. Ratification of appointment of KPMG LLP as our independent registered public accounting firm for fiscal year 2025.

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 10 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%7%

FOR: 1,093,424,839AGAINST: 85,680,360

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 2025:”): 1,093,424,839 for, 85,680,360 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 1,371,079,540 outstanding shares: 80% for, 6% against (86% of the company cast a for/against vote).

The 252 asset managers below cast 99.0% of the shares they voted on this item FOR (354,955,056 for, 3,555,309 against).

FOR 99%

FOR: 354,955,056 (99.0%)AGAINST: 3,555,309 (1.0%)ABSTAIN: 68,427 (0.0%)UNKNOWN: 31,555 (0.0%)WITHHOLD/ABSTAIN: 11 (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., 2024-2025
Asset manager	For	Against	Vote
Vanguard	136,192,693	1,395,268	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,531	333	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	2,025,087	0	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 252 asset managers. See all 252 in the interactive database.

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

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

Meeting held 2025-05-07.

Combines 9 wordings of this item as funds reported it.

18% Majority: no · of votes cast

FOR 18%AGAINST 82%

FOR: 176,085,051AGAINST: 811,996,840

PEPSICO INC.’s own tally for this item (“(5) The shareholders voted against a shareholder proposal regarding a third-party racial equity audit:”): 176,085,051 for, 811,996,840 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 1,371,079,540 outstanding shares: 13% for, 59% against (72% of the company cast a for/against vote).

The 245 asset managers below cast 3% of the shares they voted on this item FOR (11,141,703 for, 343,890,122 against).

AGAINST 96%

FOR: 11,141,703 (3.1%)AGAINST: 343,890,122 (95.9%)ABSTAIN: 3,529,131 (1.0%)UNKNOWN: 31,555 (0.0%)NOT VOTED: 300 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Third-Party Racial Equity Audit.” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	0	137,587,961	0	Against
BlackRock	37,412	41,656,149	0	Against
Fidelity	0	33,850,315	0	Against
Charles Schwab	0	25,705,493	0	Against
State Street	2,737	11,590,127	0	Against
JPMorgan	0	8,668,122	0	Against
Capital Group	0	7,630,830	0	Against
Dimensional	0	6,133,735	0	Against
Franklin Custodian Funds	498,893	5,500,000	0	Against
MFS	0	5,889,321	0	Against
TIAA	0	5,619,213	0	Against
Invesco	0	3,587,338	0	Against
INVESTMENT CO OF AMERICA	0	3,567,556	0	Against
WisdomTree	0	3,181,494	0	Against
ProShares	0	3,118,906	0	Against
American Century	0	2,900,012	0	Against
T. Rowe Price	0	2,778,845	0	Against
FRANKLIN MANAGED TRUST	2,510,000	0	0	For
Columbia Threadneedle	0	0	2,491,035	Abstain
MASTER INVESTMENT PORTFOLIO	0	2,127,223	0	Against
Jackson National	0	2,025,087	0	Against
First Trust	0	2,000,968	0	Against
Jensen Quality Growth Fund Inc	0	1,889,000	0	Against
AMG FUNDS	0	1,683,500	0	Against
Victory Capital	0	1,527,241	0	Against

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

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

OTHER SOCIAL ISSUESMajority of the votes cast: no

Meeting held 2025-05-07.

Combines 8 wordings of this item as funds reported it.

11% Majority: no · of votes cast

11%AGAINST 89%

FOR: 111,189,815AGAINST: 875,831,227

PEPSICO INC.’s own tally for this item (“(4) The shareholders voted against a shareholder proposal regarding a third-party assessment on non-sugar sweetener risks:”): 111,189,815 for, 875,831,227 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 1,371,079,540 outstanding shares: 8% for, 64% against (72% of the company cast a for/against vote).

The 244 asset managers below cast 0.9% of the shares they voted on this item FOR (2,969,633 for, 354,551,782 against).

AGAINST 99%

FOR: 2,969,633 (0.8%)AGAINST: 354,551,782 (98.9%)ABSTAIN: 1,038,186 (0.3%)UNKNOWN: 31,555 (0.0%)NOT VOTED: 300 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Third-Party Assessment on Non-Sugar Sweetener Risks.” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	0	137,587,961	Against
BlackRock	30,156	41,663,405	Against
Fidelity	0	33,850,315	Against
Charles Schwab	0	25,705,493	Against
State Street	2,737	11,590,127	Against
JPMorgan	0	8,668,122	Against
Capital Group	0	7,630,830	Against
Dimensional	0	6,133,735	Against
Franklin Custodian Funds	0	5,998,893	Against
MFS	0	5,889,321	Against
TIAA	0	5,619,213	Against
Invesco	0	3,587,338	Against
INVESTMENT CO OF AMERICA	0	3,567,556	Against
WisdomTree	0	3,181,494	Against
ProShares	0	3,118,906	Against
American Century	0	2,900,012	Against
T. Rowe Price	0	2,778,845	Against
FRANKLIN MANAGED TRUST	0	2,510,000	Against
Columbia Threadneedle	0	2,491,035	Against
MASTER INVESTMENT PORTFOLIO	0	2,127,223	Against
Jackson National	0	2,025,087	Against
First Trust	0	2,000,968	Against
Jensen Quality Growth Fund Inc	0	1,889,000	Against
AMG FUNDS	0	1,683,500	Against
Victory Capital	0	1,527,241	Against

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

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

ENVIRONMENT OR CLIMATEMajority of the votes cast: no

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

18% Majority: no · of votes cast

FOR 18%AGAINST 82%

FOR: 174,760,012AGAINST: 815,059,599

PEPSICO INC.’s own tally for this item (“(6) The shareholders voted against a shareholder proposal regarding a report on risks related to biodiversity and nature loss:”): 174,760,012 for, 815,059,599 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 1,371,079,540 outstanding shares: 13% for, 59% against (72% of the company cast a for/against vote).

The 244 asset managers below cast 1% of the shares they voted on this item FOR (5,186,932 for, 352,366,261 against).

AGAINST 98%

FOR: 5,186,932 (1.4%)AGAINST: 352,366,261 (98.3%)ABSTAIN: 1,037,962 (0.3%)NOT VOTED: 300 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Report on Risks Related to Biodiversity and Nature Loss.” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	0	137,587,961	Against
BlackRock	30,156	41,663,405	Against
Fidelity	620,994	33,229,321	Against
Charles Schwab	0	25,705,493	Against
State Street	2,737	11,590,127	Against
JPMorgan	0	8,668,122	Against
Capital Group	0	7,630,830	Against
Dimensional	193,918	5,939,817	Against
Franklin Custodian Funds	0	5,998,893	Against
MFS	0	5,889,321	Against
TIAA	0	5,619,213	Against
Invesco	0	3,587,338	Against
INVESTMENT CO OF AMERICA	0	3,567,556	Against
WisdomTree	0	3,181,494	Against
ProShares	0	3,118,906	Against
American Century	0	2,900,012	Against
T. Rowe Price	0	2,778,845	Against
FRANKLIN MANAGED TRUST	0	2,510,000	Against
Columbia Threadneedle	0	2,491,035	Against
MASTER INVESTMENT PORTFOLIO	0	2,127,223	Against
Jackson National	0	2,025,087	Against
First Trust	0	2,000,968	Against
Jensen Quality Growth Fund Inc	0	1,889,000	Against
AMG FUNDS	0	1,683,500	Against
Victory Capital	0	1,527,241	Against

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

6. Shareholder Proposal - Sustainable Packaging Policies for Plastics.

ENVIRONMENT OR CLIMATEMajority of the votes cast: no

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

16% Majority: no · of votes cast

FOR 16%AGAINST 84%

FOR: 154,283,732AGAINST: 835,765,524

PEPSICO INC.’s own tally for this item (“(7) The shareholders voted against a shareholder proposal regarding sustainable packaging policies for plastics:”): 154,283,732 for, 835,765,524 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 1,371,079,540 outstanding shares: 11% for, 61% against (72% of the company cast a for/against vote).

The 244 asset managers below cast 3% of the shares they voted on this item FOR (9,639,569 for, 347,886,364 against).

AGAINST 97%

FOR: 9,639,569 (2.7%)AGAINST: 347,886,364 (97.0%)ABSTAIN: 1,037,944 (0.3%)UNKNOWN: 27,279 (0.0%)NOT VOTED: 300 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Shareholder Proposal - Sustainable Packaging Policies for Plastics.” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	0	137,587,961	Against
BlackRock	30,156	41,663,405	Against
Fidelity	0	33,850,315	Against
Charles Schwab	0	25,705,493	Against
State Street	2,737	11,590,127	Against
JPMorgan	0	8,668,122	Against
Capital Group	0	7,630,830	Against
Dimensional	193,918	5,939,817	Against
Franklin Custodian Funds	0	5,998,893	Against
MFS	0	5,889,321	Against
TIAA	5,619,213	0	For
Invesco	0	3,587,338	Against
INVESTMENT CO OF AMERICA	0	3,567,556	Against
WisdomTree	0	3,181,494	Against
ProShares	0	3,118,906	Against
American Century	0	2,900,012	Against
T. Rowe Price	0	2,778,845	Against
FRANKLIN MANAGED TRUST	0	2,510,000	Against
Columbia Threadneedle	0	2,491,035	Against
MASTER INVESTMENT PORTFOLIO	0	2,127,223	Against
Jackson National	0	2,025,087	Against
First Trust	0	2,000,968	Against
Jensen Quality Growth Fund Inc	0	1,889,000	Against
AMG FUNDS	0	1,683,500	Against
Victory Capital	0	1,527,241	Against

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

7. Election of Directors: Segun Agbaje

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

99.3% Majority: yes · of votes cast

FOR 99.3%

FOR: 997,084,816AGAINST: 6,133,424

PEPSICO INC.’s own tally for this item (“Elect Director: Segun Agbaje”): 997,084,816 for, 6,133,424 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 1,371,079,540 outstanding shares: 73% for, 0.5% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.9% of the shares they voted on this item FOR (358,514,774 for, 1,411 against).

FOR 99.9%

FOR: 358,514,774 (100.0%)AGAINST: 1,411 (0.0%)ABSTAIN: 66,395 (0.0%)UNKNOWN: 2,995 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Segun Agbaje” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Vanguard	137,587,961	For
BlackRock	41,693,561	For
Fidelity	33,850,315	For
Charles Schwab	25,705,493	For
State Street	11,592,864	For
JPMorgan	8,668,122	For
Capital Group	7,630,830	For
Dimensional	6,133,735	For
Franklin Custodian Funds	5,998,893	For
MFS	5,889,321	For
TIAA	5,619,213	For
Invesco	3,587,338	For
INVESTMENT CO OF AMERICA	3,567,556	For
WisdomTree	3,181,494	For
ProShares	3,118,906	For
American Century	2,900,012	For
T. Rowe Price	2,778,845	For
FRANKLIN MANAGED TRUST	2,510,000	For
Columbia Threadneedle	2,491,035	For
MASTER INVESTMENT PORTFOLIO	2,127,223	For
Jackson National	2,025,087	For
First Trust	2,000,968	For
Jensen Quality Growth Fund Inc	1,889,000	For
AMG FUNDS	1,683,500	For
Victory Capital	1,527,241	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

8. Election of Directors: Jennifer Bailey

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 998,902,880AGAINST: 4,515,713

PEPSICO INC.’s own tally for this item (“Elect Director: Jennifer Bailey”): 998,902,880 for, 4,515,713 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 1,371,079,540 outstanding shares: 73% for, 0.4% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.9% of the shares they voted on this item FOR (358,514,908 for, 1,292 against).

FOR 99.9%

FOR: 358,514,908 (100.0%)AGAINST: 1,292 (0.0%)ABSTAIN: 66,380 (0.0%)UNKNOWN: 2,995 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Jennifer Bailey” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Vanguard	137,587,961	For
BlackRock	41,693,561	For
Fidelity	33,850,315	For
Charles Schwab	25,705,493	For
State Street	11,592,864	For
JPMorgan	8,668,122	For
Capital Group	7,630,830	For
Dimensional	6,133,735	For
Franklin Custodian Funds	5,998,893	For
MFS	5,889,321	For
TIAA	5,619,213	For
Invesco	3,587,338	For
INVESTMENT CO OF AMERICA	3,567,556	For
WisdomTree	3,181,494	For
ProShares	3,118,906	For
American Century	2,900,012	For
T. Rowe Price	2,778,845	For
FRANKLIN MANAGED TRUST	2,510,000	For
Columbia Threadneedle	2,491,035	For
MASTER INVESTMENT PORTFOLIO	2,127,223	For
Jackson National	2,025,087	For
First Trust	2,000,968	For
Jensen Quality Growth Fund Inc	1,889,000	For
AMG FUNDS	1,683,500	For
Victory Capital	1,527,241	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

9. Election of Directors: Cesar Conde

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 942,521,900AGAINST: 60,710,229

PEPSICO INC.’s own tally for this item (“Elect Director: Cesar Conde”): 942,521,900 for, 60,710,229 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 1,371,079,540 outstanding shares: 69% for, 4% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 97% of the shares they voted on this item FOR (348,190,524 for, 10,294,107 against).

FOR 97%

FOR: 348,190,524 (97.1%)AGAINST: 10,294,107 (2.9%)ABSTAIN: 66,394 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Cesar Conde” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	137,587,961	0	For
BlackRock	41,693,561	0	For
Fidelity	32,968,943	881,372	For
Charles Schwab	25,705,493	0	For
State Street	11,592,864	0	For
JPMorgan	0	8,668,122	Against
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	1,889,360	135,727	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

10. Election of Directors: Ian Cook

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 960,434,436AGAINST: 43,384,316

PEPSICO INC.’s own tally for this item (“Elect Director: Ian Cook”): 960,434,436 for, 43,384,316 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 1,371,079,540 outstanding shares: 70% for, 3% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.8% of the shares they voted on this item FOR (358,008,586 for, 476,094 against).

FOR 99.8%

FOR: 358,008,586 (99.8%)AGAINST: 476,094 (0.1%)ABSTAIN: 66,345 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Ian Cook” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	137,587,961	0	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,531	333	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	2,025,087	0	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

11. Election of Directors: Edith W. Cooper

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 998,937,777AGAINST: 4,996,549

PEPSICO INC.’s own tally for this item (“Elect Director: Edith W. Cooper”): 998,937,777 for, 4,996,549 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 1,371,079,540 outstanding shares: 73% for, 0.4% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.9% of the shares they voted on this item FOR (358,483,459 for, 1,327 against).

FOR 99.9%

FOR: 358,483,459 (100.0%)AGAINST: 1,327 (0.0%)ABSTAIN: 97,794 (0.0%)UNKNOWN: 2,995 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Edith W. Cooper” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Vanguard	137,587,961	For
BlackRock	41,693,561	For
Fidelity	33,850,315	For
Charles Schwab	25,705,493	For
State Street	11,592,864	For
JPMorgan	8,668,122	For
Capital Group	7,630,830	For
Dimensional	6,133,735	For
Franklin Custodian Funds	5,998,893	For
MFS	5,889,321	For
TIAA	5,619,213	For
Invesco	3,587,338	For
INVESTMENT CO OF AMERICA	3,567,556	For
WisdomTree	3,181,494	For
ProShares	3,118,906	For
American Century	2,900,012	For
T. Rowe Price	2,778,845	For
FRANKLIN MANAGED TRUST	2,510,000	For
Columbia Threadneedle	2,491,035	For
MASTER INVESTMENT PORTFOLIO	2,127,223	For
Jackson National	2,025,087	For
First Trust	2,000,968	For
Jensen Quality Growth Fund Inc	1,889,000	For
AMG FUNDS	1,683,500	For
Victory Capital	1,527,241	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

12. Election of Directors: Susan M. Diamond

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 998,681,181AGAINST: 4,749,332

PEPSICO INC.’s own tally for this item (“Elect Director: Susan M. Diamond”): 998,681,181 for, 4,749,332 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 1,371,079,540 outstanding shares: 73% for, 0.4% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.9% of the shares they voted on this item FOR (358,514,891 for, 1,310 against).

FOR 99.9%

FOR: 358,514,891 (100.0%)AGAINST: 1,310 (0.0%)ABSTAIN: 66,378 (0.0%)UNKNOWN: 2,995 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Susan M. Diamond” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Vanguard	137,587,961	For
BlackRock	41,693,561	For
Fidelity	33,850,315	For
Charles Schwab	25,705,493	For
State Street	11,592,864	For
JPMorgan	8,668,122	For
Capital Group	7,630,830	For
Dimensional	6,133,735	For
Franklin Custodian Funds	5,998,893	For
MFS	5,889,321	For
TIAA	5,619,213	For
Invesco	3,587,338	For
INVESTMENT CO OF AMERICA	3,567,556	For
WisdomTree	3,181,494	For
ProShares	3,118,906	For
American Century	2,900,012	For
T. Rowe Price	2,778,845	For
FRANKLIN MANAGED TRUST	2,510,000	For
Columbia Threadneedle	2,491,035	For
MASTER INVESTMENT PORTFOLIO	2,127,223	For
Jackson National	2,025,087	For
First Trust	2,000,968	For
Jensen Quality Growth Fund Inc	1,889,000	For
AMG FUNDS	1,683,500	For
Victory Capital	1,527,241	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

13. Election of Directors: Dina Dublon

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 958,176,375AGAINST: 45,833,155

PEPSICO INC.’s own tally for this item (“Elect Director: Dina Dublon”): 958,176,375 for, 45,833,155 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 1,371,079,540 outstanding shares: 70% for, 3% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.7% of the shares they voted on this item FOR (357,613,073 for, 871,622 against).

FOR 99.7%

FOR: 357,613,073 (99.7%)AGAINST: 871,622 (0.2%)ABSTAIN: 66,330 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Dina Dublon” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	137,587,961	0	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,531	333	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	2,025,087	0	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

14. Election of Directors: Ramon L. Laguarta

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

92% Majority: yes · of votes cast

FOR 92%8%

FOR: 919,746,560AGAINST: 80,092,770

PEPSICO INC.’s own tally for this item (“Elect Director: Ramon L. Laguarta”): 919,746,560 for, 80,092,770 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 1,371,079,540 outstanding shares: 67% for, 6% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.9% of the shares they voted on this item FOR (358,234,004 for, 250,693 against).

FOR 99.9%

FOR: 358,234,004 (99.9%)AGAINST: 250,693 (0.1%)ABSTAIN: 66,328 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Ramon L. Laguarta” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	137,587,961	0	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,778	86	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	2,025,087	0	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

15. Election of Directors: Dave J. Lewis

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 998,640,991AGAINST: 5,187,989

PEPSICO INC.’s own tally for this item (“Elect Director: Dave J. Lewis”): 998,640,991 for, 5,187,989 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 1,371,079,540 outstanding shares: 73% for, 0.4% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.8% of the shares they voted on this item FOR (358,103,064 for, 413,172 against).

FOR 99.8%

FOR: 358,103,064 (99.9%)AGAINST: 413,172 (0.1%)ABSTAIN: 66,344 (0.0%)UNKNOWN: 2,995 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Dave J. Lewis” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Vanguard	137,587,961	For
BlackRock	41,693,561	For
Fidelity	33,850,315	For
Charles Schwab	25,705,493	For
State Street	11,592,864	For
JPMorgan	8,668,122	For
Capital Group	7,630,830	For
Dimensional	6,133,735	For
Franklin Custodian Funds	5,998,893	For
MFS	5,889,321	For
TIAA	5,619,213	For
Invesco	3,587,338	For
INVESTMENT CO OF AMERICA	3,567,556	For
WisdomTree	3,181,494	For
ProShares	3,118,906	For
American Century	2,900,012	For
T. Rowe Price	2,778,845	For
FRANKLIN MANAGED TRUST	2,510,000	For
Columbia Threadneedle	2,491,035	For
MASTER INVESTMENT PORTFOLIO	2,127,223	For
Jackson National	2,025,087	For
First Trust	2,000,968	For
Jensen Quality Growth Fund Inc	1,889,000	For
AMG FUNDS	1,683,500	For
Victory Capital	1,527,241	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

16. Election of Directors: David C. Page

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 984,600,756AGAINST: 15,804,729

PEPSICO INC.’s own tally for this item (“Elect Director: David C. Page, MD”): 984,600,756 for, 15,804,729 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 1,371,079,540 outstanding shares: 72% for, 1% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.8% of the shares they voted on this item FOR (357,817,255 for, 667,145 against).

FOR 99.7%

FOR: 357,817,255 (99.8%)AGAINST: 667,145 (0.2%)ABSTAIN: 66,625 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: David C. Page” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Vanguard	137,587,961	For
BlackRock	41,693,561	For
Fidelity	33,850,315	For
Charles Schwab	25,705,493	For
State Street	11,592,864	For
JPMorgan	8,668,122	For
Capital Group	7,630,830	For
Dimensional	6,133,735	For
Franklin Custodian Funds	5,998,893	For
MFS	5,889,321	For
TIAA	5,619,213	For
Invesco	3,587,338	For
INVESTMENT CO OF AMERICA	3,567,556	For
WisdomTree	3,181,494	For
ProShares	3,118,906	For
American Century	2,900,012	For
T. Rowe Price	2,778,845	For
FRANKLIN MANAGED TRUST	2,510,000	For
Columbia Threadneedle	2,491,035	For
MASTER INVESTMENT PORTFOLIO	2,127,223	For
Jackson National	2,025,087	For
First Trust	2,000,968	For
Jensen Quality Growth Fund Inc	1,889,000	For
AMG FUNDS	1,683,500	For
Victory Capital	1,527,241	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

17. Election of Directors: Robert C. Pohlad

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

94% Majority: yes · of votes cast

FOR 94%

FOR: 944,200,821AGAINST: 59,628,054

PEPSICO INC.’s own tally for this item (“Elect Director: Robert C. Pohlad”): 944,200,821 for, 59,628,054 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 1,371,079,540 outstanding shares: 69% for, 4% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 97% of the shares they voted on this item FOR (348,969,114 for, 9,515,567 against).

FOR 97%

FOR: 348,969,114 (97.3%)AGAINST: 9,515,567 (2.7%)ABSTAIN: 66,344 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Robert C. Pohlad” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	129,799,952	7,788,009	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,864	0	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	2,025,087	0	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

18. Election of Directors: Daniel Vasella

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 7 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 950,671,462AGAINST: 53,055,825

PEPSICO INC.’s own tally for this item (“Elect Director: Daniel Vasella, MD”): 950,671,462 for, 53,055,825 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 1,371,079,540 outstanding shares: 69% for, 4% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.8% of the shares they voted on this item FOR (357,903,105 for, 581,567 against).

FOR 99.8%

FOR: 357,903,105 (99.8%)AGAINST: 581,567 (0.2%)ABSTAIN: 66,352 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Daniel Vasella” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	137,587,961	0	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,531	333	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	2,025,087	0	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

19. Election of Directors: Darren Walker

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 981,718,608AGAINST: 20,245,677

PEPSICO INC.’s own tally for this item (“Elect Director: Darren Walker”): 981,718,608 for, 20,245,677 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 1,371,079,540 outstanding shares: 72% for, 1% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 98% of the shares they voted on this item FOR (352,000,807 for, 6,515,276 against).

FOR 98%

FOR: 352,000,807 (98.2%)AGAINST: 6,515,276 (1.8%)ABSTAIN: 66,497 (0.0%)UNKNOWN: 2,995 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Darren Walker” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	137,587,961	0	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,864	0	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	0	6,133,735	Against
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	1,998,298	26,789	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

20. Election of Directors: Alberto Weisser

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 954,913,134AGAINST: 47,944,475

PEPSICO INC.’s own tally for this item (“Elect Director: Alberto Weisser”): 954,913,134 for, 47,944,475 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 1,371,079,540 outstanding shares: 70% for, 3% against (73% of the company cast a for/against vote).

The 243 asset managers below cast 99.8% of the shares they voted on this item FOR (357,997,092 for, 487,519 against).

FOR 99.8%

FOR: 357,997,092 (99.8%)AGAINST: 487,519 (0.1%)ABSTAIN: 66,414 (0.0%)UNKNOWN: 34,550 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Alberto Weisser” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Vanguard	137,587,961	0	For
BlackRock	41,693,561	0	For
Fidelity	33,850,315	0	For
Charles Schwab	25,705,493	0	For
State Street	11,592,531	333	For
JPMorgan	8,668,122	0	For
Capital Group	7,630,830	0	For
Dimensional	6,133,735	0	For
Franklin Custodian Funds	5,998,893	0	For
MFS	5,889,321	0	For
TIAA	5,619,213	0	For
Invesco	3,587,338	0	For
INVESTMENT CO OF AMERICA	3,567,556	0	For
WisdomTree	3,181,494	0	For
ProShares	3,118,906	0	For
American Century	2,900,012	0	For
T. Rowe Price	2,778,845	0	For
FRANKLIN MANAGED TRUST	2,510,000	0	For
Columbia Threadneedle	2,491,035	0	For
MASTER INVESTMENT PORTFOLIO	2,127,223	0	For
Jackson National	2,025,087	0	For
First Trust	2,000,968	0	For
Jensen Quality Growth Fund Inc	1,889,000	0	For
AMG FUNDS	1,683,500	0	For
Victory Capital	1,527,241	0	For

Showing the 25 largest of 243 asset managers. See all 243 in the interactive database.

21. Election of Directors: Michelle Gass

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-05-07.

Combines 6 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 998,350,647AGAINST: 5,018,248

PEPSICO INC.’s own tally for this item (“Elect Director: Michelle Gass”): 998,350,647 for, 5,018,248 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 1,371,079,540 outstanding shares: 73% for, 0.4% against (73% of the company cast a for/against vote).

The 242 asset managers below cast 99.8% of the shares they voted on this item FOR (358,070,491 for, 413,148 against).

FOR 99.8%

FOR: 358,070,491 (99.9%)AGAINST: 413,148 (0.1%)ABSTAIN: 97,841 (0.0%)UNKNOWN: 2,995 (0.0%)WITHHOLD/ABSTAIN: 11 (0.0%)

Largest asset managers voting on “Election of Directors: Michelle Gass” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Vanguard	137,587,961	For
BlackRock	41,693,561	For
Fidelity	33,850,315	For
Charles Schwab	25,705,493	For
State Street	11,592,864	For
JPMorgan	8,668,122	For
Capital Group	7,630,830	For
Dimensional	6,133,735	For
Franklin Custodian Funds	5,998,893	For
MFS	5,889,321	For
TIAA	5,619,213	For
Invesco	3,587,338	For
INVESTMENT CO OF AMERICA	3,567,556	For
WisdomTree	3,181,494	For
ProShares	3,118,906	For
American Century	2,900,012	For
T. Rowe Price	2,778,845	For
FRANKLIN MANAGED TRUST	2,510,000	For
Columbia Threadneedle	2,491,035	For
MASTER INVESTMENT PORTFOLIO	2,127,223	For
Jackson National	2,025,087	For
First Trust	2,000,968	For
Jensen Quality Growth Fund Inc	1,889,000	For
AMG FUNDS	1,683,500	For
Victory Capital	1,527,241	For

Showing the 25 largest of 242 asset managers. See all 242 in the interactive database.

22. Advisory Vote to Ratify Named Executive Officers' Compensation

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

Meeting held 2025-05-07.

Combines 2 wordings of this item as funds reported it.

87% Majority: yes · of votes cast

FOR 87%13%

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

The 66 asset managers below cast 43% of the shares they voted on this item FOR (15,724,273 for, 20,864,439 against).

FOR 43%AGAINST 57%

FOR: 15,724,273 (42.9%)AGAINST: 20,864,439 (56.9%)ABSTAIN: 49,256 (0.1%)

Largest asset managers voting on “Advisory Vote to Ratify Named Executive Officers' Compensation” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
JPMorgan	0	20,216,549	0	Against
APG Asset Management US Inc.	4,191,685	0	0	For
NORDEA INVESTMENT MANAGEMENT AB	3,386,053	0	0	For
FAYEZ SAROFIM & CO	2,523,273	0	0	For
TD ASSET MANAGEMENT INC	1,180,333	0	0	For
ADAGE CAPITAL PARTNERS GP, L.L.C.	1,163,379	0	0	For
STOREBRAND ASSET MANAGEMENT AS	1,082,742	0	0	For
Cardano Risk Management B.V.	0	411,830	0	Against
Troy Asset Management Ltd	286,464	0	0	For
Waverton Investment Management Ltd	246,732	0	0	For
GuideStone	218,461	0	0	For
Swiss Life Asset Management Ltd	212,581	0	0	For
Empower	189,245	0	0	For
iA Global Asset Management Inc.	176,948	0	0	For
TD Waterhouse Canada Inc.	131,676	0	0	For
Desjardins Global Asset Management Inc.	0	124,648	0	Against
Ninety One UK Ltd	95,031	0	0	For
Vinva Investment Management Ltd	81,989	0	0	For
RWC Asset Management LLP	81,112	0	0	For
Metzler Asset Management GmbH	74,461	0	0	For
Erste Asset Management GmbH	68,010	0	0	For
Sone Capital Management, LLC	14,997	0	48,378	Abstain
HC CAPITAL TRUST	0	57,885	0	Against
Jasper Ridge Partners, L.P.	49,000	0	0	For
WHITENER CAPITAL MANAGEMENT, INC.	47,041	0	0	For

Showing the 25 largest of 66 asset managers. See all 66 in the interactive database.

23. SECTION 14A EXECUTIVE COMPENSATION

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

Meeting held 2025-05-07.

87% Majority: yes · of votes cast

FOR 87%13%

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

The 36 asset managers below cast 61% of the shares they voted on this item FOR (552,773 for, 358,222 against).

FOR 59%AGAINST 38%

FOR: 552,773 (59.0%)AGAINST: 358,222 (38.3%)NOT VOTED: 25,301 (2.7%)A: 200 (0.0%)

Largest asset managers voting on “SECTION 14A EXECUTIVE COMPENSATION” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
Focus Partners Wealth	164,584	316,702	Against
VANTAGE WEALTH	127,931	0	For
MATTERN CAPITAL MANAGEMENT, LLC	55,995	0	For
EAGLE GLOBAL ADVISORS LLC	51,567	0	For
COURIER CAPITAL LLC	0	39,288	Against
Wallington Asset Management, LLC	33,940	0	For
OLD SECOND NATIONAL BANK OF AURORA	28,071	0	For
LEAVELL INVESTMENT MANAGEMENT, INC.	0	0	Not Voted
BUTENSKY & COHEN FINANCIAL SECURITY, INC	22,236	0	For
HARBOUR INVESTMENT MANAGEMENT LLC	13,995	0	For
River Street Advisors LLC	11,198	0	For
Blue Fin Capital, Inc.	9,515	0	For
Inlet Private Wealth, LLC	6,300	0	For
Ballew Advisors, Inc	5,881	0	For
MQS Management LLC	4,759	0	For
MCMORGAN & CO LLC	3,808	0	For
Baker Avenue Asset Management, LP	3,122	0	For
BOURNE LENT ASSET MANAGEMENT INC	2,115	0	For
Claret Asset Management Corp	1,688	0	For
PEDDOCK CAPITAL ADVISORS, LLC	1,402	0	For
Campion Asset Management	0	1,145	Against
WOODARD & CO ASSET MANAGEMENT GROUP INC /ADV	0	1,087	Against
VOISARD ASSET MANAGEMENT GROUP, INC.	1,049	0	For
IMA Advisory Services, Inc.	747	0	For
Blue Edge Capital, LLC	650	0	For

Showing the 25 largest of 36 asset managers. See all 36 in the interactive database.

24. Advisory approval of the Company's executive compensation

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

Meeting held 2024-05-01 (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

Combines 3 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 1,371,079,540 outstanding shares: 65% for, 7% against (72% of the company cast a for/against vote).

The 11 asset managers below cast 98% of the shares they voted on this item FOR (402,506 for, 7,995 against).

FOR 98%

FOR: 402,506 (98.1%)AGAINST: 7,995 (1.9%)

Largest asset managers voting on “Advisory approval of the Company's executive compensation” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
VAUGHAN DAVID INVESTMENTS LLC/IL	249,852	0	For
Sky Investment Group LLC	65,764	0	For
COLDSTREAM CAPITAL MANAGEMENT INC	32,895	0	For
Americana Partners, LLC	21,660	0	For
Ipswich Investment Management Co., Inc.	19,905	0	For
DIVIDEND ASSETS CAPITAL, LLC	10,397	0	For
Knuff & Co LLC	0	7,995	Against
Axiom Financial Strategies, LLC	1,588	0	For
Seascape Capital Management	445	0	For
Echo45 Advisors LLC	0	0	--
Synergy Investment Management, LLC	0	0	--

25. Say on Pay

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

Meeting held 2025-05-07.

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

The 7 asset managers below cast 100% of the shares they voted on this item FOR (451,462 for, 0 against).

FOR 100%

FOR: 451,462 (100.0%)

Largest asset managers voting on “Say on Pay” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Empower	408,749	For
Ramsay, Stattman, Vela & Price, Inc.	37,479	For
Wallace Capital Management Inc.	2,531	For
CAPITAL MANAGEMENT CORP /VA	1,619	For
CHELSEA COUNSEL CO	750	For
Gibson Capital, LLC	234	For
ArchPoint Investors	100	For

26. Election of Directors (Majority Voting)

DIRECTOR ELECTIONS

Meeting held 2025-05-07.

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.

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., 2024-2025
Asset manager	For	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	209,925	For
VOISARD ASSET MANAGEMENT GROUP, INC.	1,049	For
ESL Trust Services, LLC	166	For
NORTHERN LIGHTS FUND TRUST III	80	For
Simplify Exchange Traded Funds	72	For
Williamson Legacy Group, LLC	8	For

27. S/H Proposal - Corporate Governance

SHAREHOLDER RIGHTS AND DEFENSES

Meeting held 2025-05-07.

12% fund support · no official result

8%NOT VOTED 91%

The 6 asset managers below cast 12% of the shares they voted on this item FOR (160 for, 1,215 against).

FOR: 160 (1.0%)AGAINST: 1,215 (7.9%)NOT VOTED: 13,995 (91.1%)

Largest asset managers voting on “S/H Proposal - Corporate Governance” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	Not Voted
VOISARD ASSET MANAGEMENT GROUP, INC.	0	1,049	Against
ESL Trust Services, LLC	0	166	Against
NORTHERN LIGHTS FUND TRUST III	80	0	For
Simplify Exchange Traded Funds	72	0	For
Williamson Legacy Group, LLC	8	0	For

28. S/H Proposal - Environmental

SHAREHOLDER RIGHTS AND DEFENSES

Meeting held 2025-05-07.

12% fund support · no official result

NOT VOTED 95%

The 6 asset managers below cast 12% of the shares they voted on this item FOR (160 for, 1,215 against).

FOR: 160 (0.5%)AGAINST: 1,215 (4.1%)NOT VOTED: 27,990 (95.3%)

Largest asset managers voting on “S/H Proposal - Environmental” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	Not Voted
VOISARD ASSET MANAGEMENT GROUP, INC.	0	1,049	Against
ESL Trust Services, LLC	0	166	Against
NORTHERN LIGHTS FUND TRUST III	80	0	For
Simplify Exchange Traded Funds	72	0	For
Williamson Legacy Group, LLC	8	0	For

29. S/H Proposal - Human Rights Related

SHAREHOLDER RIGHTS AND DEFENSES

Meeting held 2025-05-07.

88% fund support · no official result

8%NOT VOTED 91%

The 6 asset managers below cast 88% of the shares they voted on this item FOR (1,209 for, 166 against).

FOR: 1,209 (7.9%)AGAINST: 166 (1.1%)NOT VOTED: 13,995 (91.1%)

Largest asset managers voting on “S/H Proposal - Human Rights Related” at PEPSICO INC., 2024-2025
Asset manager	For	Against	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	Not Voted
VOISARD ASSET MANAGEMENT GROUP, INC.	1,049	0	For
ESL Trust Services, LLC	0	166	Against
NORTHERN LIGHTS FUND TRUST III	80	0	For
Simplify Exchange Traded Funds	72	0	For
Williamson Legacy Group, LLC	8	0	For

30. Advisory vote to Approve Named Executive Officer Compensation

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

Meeting held 2025-05-07.

Combines 2 wordings of this item as funds reported it.

87% Majority: yes · of votes cast

FOR 87%13%

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

The 5 asset managers below cast 100% of the shares they voted on this item FOR (90,597 for, 0 against).

FOR 100%

FOR: 90,597 (100.0%)

Largest asset managers voting on “Advisory vote to Approve Named Executive Officer Compensation” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
ST GERMAIN D J CO INC	50,106	For
NTV ASSET MANAGEMENT LLC	34,285	For
EAGLE HARBOR ASSET MANAGEMENT INC /ADV	4,762	For
Parisi Gray Wealth Management	1,169	For
Cannon Financial Strategists, Inc.	275	For

31. SECTION 14A SAY-ON-PAY VOTES

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

Meeting held 2025-05-07.

Combines 2 wordings of this item as funds reported it.

87% Majority: yes · of votes cast

FOR 87%13%

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

The 3 asset managers below cast 100% of the shares they voted on this item FOR (5,565 for, 0 against).

FOR 100%

FOR: 5,565 (100.0%)

Largest asset managers voting on “SECTION 14A SAY-ON-PAY VOTES” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
SWEENEY & MICHEL, LLC	3,043	For
Lido Advisors, LLC	2,502	For
Pinnacle Family Advisors, LLC	20	For

32. COMPENSATION

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

Meeting held 2025-05-07.

87% Majority: yes · of votes cast

FOR 87%13%

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

The 3 asset managers below cast 100% of the shares they voted on this item FOR (22,561 for, 0 against).

FOR 100%

FOR: 22,561 (100.0%)

Largest asset managers voting on “COMPENSATION” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Capital Group	17,025	For
Members Trust Co	5,328	For
Blue Sky Capital Consultants Group, Inc.	208	For

33. To approve, by an advisory vote, the compensation of the Company's named executives

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

Meeting held 2025-05-07.

87% Majority: yes · of votes cast

FOR 87%13%

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

The 3 asset managers below cast 100% of the shares they voted on this item FOR (3,533 for, 0 against).

FOR 100%

FOR: 3,533 (100.0%)

Largest asset managers voting on “To approve, by an advisory vote, the compensation of the Company's named executives” at PEPSICO INC., 2024-2025
Asset manager	For	Vote
Modern Wealth Management, LLC	3,284	For
AMJ Financial Wealth Management	245	For
FPC INVESTMENT ADVISORY, INC.	4	For

Showing the 33 reported items with the widest manager coverage, of 42 in total. View every item.

Largest PEPSICO INC. shareholders voting in 2024-2025

Ranked by the number of PEPSICO INC. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 1,371,079,540 shares outstanding at the time of that meeting.

Top PEPSICO INC. shareholders by shares voted, 2024-2025
#	Asset manager	% of shares outstanding
1	Vanguard	10.70%
2	BlackRock	6.47%
3	Charles Schwab	3.77%
4	State Street	3.35%
5	Fidelity	2.77%
6	GEODE CAPITAL MANAGEMENT, LLC	2.34%
7	Northern Trust	1.08%
8	Legal & General Investment Management Ltd	1.05%
9	MASSACHUSETTS FINANCIAL SERVICES CO /MA/	0.94%
10	Invesco	0.93%

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 2024-2025 proxy season
Holder	% outstanding	Disclosure
The Vanguard Group	9.58%	DEF14A
BlackRock, Inc.	8.16%	DEF14A
State Street	4.19%	13F
JPMorgan Chase	2.58%	13F
Geode Capital	2.38%	13F
Charles Schwab	1.93%	13F
Morgan Stanley	1.90%	13F
Norges Bank	1.22%	13F
Northern Trust	1.19%	13F
BNY Mellon	1.03%	13F

Percentages above are of 1,371,079,540 shares outstanding, as reported by PEPSICO INC. on its Form 10-Q dated 2025-04-17 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 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 2025-04-17. 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 2025-05-07, in the 2024-2025 proxy season, 1,666 asset managers reported how they voted in their SEC Form N-PX filings, covering 27,125 separate fund positions. Their filings are grouped here into 42 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 87% 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 · 2024-2025 (this page) · 2025-2026.