Jane Prior, Chief Marketing Officer of Vita Coco (COCO +0.69%), exercised 10,000 stock options and immediately sold the equivalent number of shares through a derivative transaction (option exercise with immediate sale) on Oct. 29, 2025. SEC Form 4 filing
Transaction summary
| Metric | Value |
|---|---|
| Shares sold | 10,000 |
| Transaction value | ~$452,400 |
| Post-transaction shares | 123,666 |
| Post-transaction value (direct ownership) | ~$5.6 million |
Transaction value based on SEC Form 4 weighted average purchase price ($45.24); post-transaction value based on Oct. 29, 2025, market close ($45.28).
Key questions
What is the structure and purpose of this transaction?
This event involved the exercise of 10,000 fully vested options by Jane Prior, immediately followed by the sale of all resulting shares in the open market. This appears to be a routine case of a corporate executive exercising their stock options -- a common liquidity event -- rather than selling down an existing position. The transaction did not alter Prior's net holdings.
How did this transaction compare to Prior's prior trading activity?
In the most recent period (since November 2024), Prior's median sell transaction was 10,000 shares, matching the current event. She made similar 10,000-share transactions in September, July, and June. The proportion of direct holdings sold in this transaction was 7.48%, above the recent median of 5.93%, but this small increase is explained by Prior's reduced overall holdings after a 10,522-share sell in August.
What is the impact on Prior's remaining equity and option holdings?
Following the sale, Prior retains 123,666 directly owned shares, valued at approximately $5.6 million as of the Oct. 29, 2025, close.
How does the transaction value relate to the current and historical stock price?
The shares were sold at a price of $45.24 per share. As of the transaction date close, the stock was priced at $45.28. At the Nov. 3, 2025, reference date, the stock price was $40.82. Over the preceding year, the stock returned 47.1% as of Oct. 29, 2025, highlighting significant prior appreciation.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $609.3 million |
| Net income (TTM) | $69.2 million |
| Price (as of market close 10/29/25) | $45.24 |
| 1-year price change | 17.9% |
* 1-year price change calculated using Oct. 29, 2025, as the reference date.
Company snapshot
Vita Coco offers coconut-based and functional drinks in the non-alcoholic beverage sector, including coconut water, coconut milk, and other coconut-based drinks, which are marketed under various brand names.
The company generates revenue primarily through the development, marketing, and distribution of these branded non-alcoholic beverages via retail, club, convenience, e-commerce, and foodservice channels. It targets health-conscious consumers and fitness enthusiasts across North America, Europe, the Middle East, and Asia Pacific.
Vita Coco has a diversified product portfolio and a global distribution network.
Foolish take
Sales of both alcoholic beverages and carbonated sodas have been declining in recent years. That decline is attributed to increased awareness of the health risks of excessive alcohol and sugar consumption, including diabetes and obesity, and higher prices resulting from increased input costs.
Whatever the reasons, a number of beverage makers are trying to capitalize on this trend by offering alternatives, like zero-calorie carbonated beverages, protein shakes, or -- in the case of Vita Coco -- coconut water and milk.
Vita Coco has been in the right place at the right time: Coconut water and related drinks have been exploding in popularity, with U.S. sales growth outpacing even that of energy drinks. Over the past three years, Vita Coco's annual revenue has grown 42.4% to $609.3 million, but profits have soared 785% to $69.2 million. Small wonder that the stock price is trading near its all-time high.
Despite Vita Coco's explosive recent earnings growth -- which has outpaced industry peers like Monster Beverage and Celsius Holdings -- its price-to-earnings ratio has remained remarkably stable over the past two years. At just 36.2 times trailing earnings, the company's stock trades at a much lower multiple than other upstart beverage makers, including Monster's 41.5x or Celsius' 124.2x.
Vita Coco looks like an underappreciated outperformer in an otherwise lackluster beverage industry.
NASDAQ: COCO
Key Data Points
Glossary
Option exercise: When an employee or insider buys company shares at a set price using stock options.
Derivative transaction: A financial action involving contracts whose value is based on an underlying asset, such as stocks or options.
Insider: A company executive, director, or major shareholder with access to non-public company information.
Liquidity event: An action that allows an individual to convert assets, such as shares, into cash.
Open market: The public market where securities are bought and sold between investors, not directly from the company.
Direct ownership: Shares held and controlled directly by an individual, not through intermediaries or options.
Vested options: Stock options that have met required conditions and are now eligible to be exercised by the holder.
Form 4: A required SEC filing disclosing insider trades of company securities.
Weighted average purchase price: The average price paid per share, adjusted for the number of shares bought at each price.
Reference date: A specific date used as a basis for comparing financial data or performance.
TTM: The 12-month period ending with the most recent quarterly report.
Non-alcoholic beverage sector: The industry segment focused on producing and selling drinks without alcohol.
