Insider Trading January 28, 2026

Caisse de Depot and CDP Investissements Sell $7M of Zevia Shares; Firm Retains Over 13.5M

Institutional holders report sale of 3.5 million Class A shares as Zevia posts a modest Q3 2025 beat and names new director

By Derek Hwang ZVIA
Caisse de Depot and CDP Investissements Sell $7M of Zevia Shares; Firm Retains Over 13.5M
ZVIA

Caisse de Depot et Placement du Quebec and its subsidiary CDP Investissements Inc. reported the sale of 3,500,000 shares of Zevia PBC Class A common stock on January 27, 2026, at $2.00 per share, generating $7.0 million. After the disposition the entities continue to hold 13,550,428 shares. Separately, Zevia reported a Q3 2025 earnings beat and appointed Suzanne Ginestro to its board.

Key Points

  • Institutional sale: 3,500,000 Zevia Class A shares sold by Caisse de Depot and CDP Investissements on January 27, 2026 for $2.00 each, totaling $7,000,000.
  • Remaining stake: After the disposition the entities retain 13,550,428 shares, with CDP Investissements holding direct ownership and Caisse de Depot deemed the beneficial owner via its wholly owned subsidiary.
  • Corporate updates: Zevia reported a Q3 2025 earnings beat with EPS of -$0.04 and revenue of $40.8 million, and appointed Suzanne Ginestro to its board; these items highlight activity across governance and financial reporting.

Transaction details

Caisse de Depot et Placement du Quebec and CDP Investissements Inc. jointly disclosed that they sold 3,500,000 shares of Zevia PBC Class A common stock (NASDAQ: ZVIA) on January 27, 2026. The shares changed hands at a price of $2.00 apiece, producing proceeds of $7,000,000 for the transaction.

Post-transaction holdings

Following the sale, the filing shows the two entities continue to hold a combined total of 13,550,428 shares of Zevia PBC. The filing also clarifies ownership structure: CDP Investissements Inc. directly owns the securities, while Caisse de Depot et Placement du Quebec is deemed to beneficially own those securities through its wholly owned subsidiary.

Related corporate developments

In filings and corporate announcements separate from the share disposition, Zevia PBC reported third-quarter 2025 results that exceeded analysts' expectations. The company recorded earnings per share of -$0.04, ahead of the anticipated -$0.06, and posted revenue of $40.8 million versus a projected $39.26 million. Additionally, Zevia announced the appointment of Suzanne Ginestro to its Board of Directors. Ginestro currently serves as Chief Marketing Officer at Califia Farms and brings over 25 years of experience in the food, beverage, and wellness industries. She will also take a position on Zevia's Compensation Committee.

Context and takeaway

Taken together, the institutional sale and the company's recent operational and governance updates present a snapshot of activity around Zevia in late January 2026. The transaction amount and the retained stake are recorded formally in the filing, while the company continues to highlight its latest quarterly financials and a board-level appointment.


Summary of facts

  • Caisse de Depot et Placement du Quebec and CDP Investissements Inc. sold 3,500,000 ZVIA Class A shares on January 27, 2026.
  • Sale price was $2.00 per share for total proceeds of $7,000,000.
  • After the sale, the entities retain 13,550,428 Zevia shares; CDP Investissements Inc. directly owns the shares while Caisse de Depot is deemed beneficial owner through a wholly owned subsidiary.
  • Zevia reported Q3 2025 EPS of -$0.04 and revenue of $40.8 million, both above the forecasts cited in related disclosures.
  • Suzanne Ginestro was named to Zevia's Board of Directors and will serve on the Compensation Committee.

Risks

  • Insider disposition risk: The filing documents a material sale by institutional holders, which could be interpreted differently by market participants; this directly relates to equity markets and investor sentiment.
  • Operational and financial performance uncertainty: While Q3 2025 results beat forecasts, the company still reported negative EPS, reflecting ongoing profitability pressures within the consumer beverage and packaged goods sectors.
  • Governance transition timing: The appointment of a new director and Compensation Committee membership introduces near-term changes to board composition and oversight at Zevia.

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