On March 22, 2024, PepsiCo Inc announced that it has received a shareholder proposal from National Legal and Policy Center requesting that the board of directors issue a report by Dec. 31, 2024, about compensation and health benefit gaps, which should include how they address dysphoria and de-transitioning care across gender classifications, including associated reputational, competitive, operational and litigative risks, and risks related to recruiting and retaining diverse talent. The report should be prepared at reasonable cost, omitting proprietary and private information, litigation strategy and legal compliance information.

In addition, the Company urged the shareholders to vote against the shareholder proposal at its annual general meeting of shareholders scheduled to be held on May 1, 2024.