Zevia PBC 10-K

Item 9A. Controls and Procedures. Evaluation of Disclosure Controls and Procedures We maintain “disclosure controls and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, that are designed to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act is (1) recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms and (2) accumulated and communicated to our management, including our principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure. Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, evaluated the effectiveness of our disclosure controls and procedures as of December 31, 2025. Based on the foregoing evaluation, management determined that our disclosure controls and procedures were effective at the reasonable assurance level as of December 31, 2025. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Report on Internal Control over Financial Reporting Our management is responsible for establishing and maintaining adequate internal control over financial reporting for the Company, as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act. Our internal control system is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of the Company’s financial statements for external purposes in accordance with U.S. GAAP. As of December 31, 2025, our management assessed the effectiveness of our internal control over financial reporting using the criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission in Internal Control-Integrated Framework. Based on this assessment, our management concluded that our internal control over financial reporting was effective as of December 31, 2025. Attestation Report of Registered Public Accounting Firm This Report does not include an attestation report of our internal controls from our independent registered public accounting firm due to our status as an “emerging growth company” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012. Changes in Internal Control over Financial Reporting. Management determined that as of December 31, 2025, no changes in our internal control over financial reporting had occurred during the fiscal quarter then ended that materially affected or are reasonably likely to materially affect our internal control over financial reporting. 63 Table of Contents Item 9B. Other Information. (b) None of our directors or executive officers adopted or terminated a Rule 10b5 - 1 trading arrangement or a non-Rule 10b5 - 1 trading arrangement during the quarter ended December 31, 2025 , as such terms are defined under Item 408 (a) of Regulation S-K. Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. Not applicable. 64 Table of Contents PART III Item 10. Directors, Executive Officers and Corporate Governance. The information required by this item is incorporated by reference to the information set forth under the captions “Election of Directors,” “Corporate Governance,” “Executive Officers,” “Executive Compensation- Compensation Policies- Insider Trading Policy and Prohibition on Hedging and Pledging,” “Delinquent Section 16 (a) Reports” (if applicable) and “Code of Business Conduct and Ethics” in the definitive Proxy Statement for our 2026 Annual Meeting of Stockholders, which will be filed with the SEC no later than 120 days after December 31, 2025 (the “ 2026 Proxy Statement”). Item 11. Executive Compensation. The information required by this item is incorporated by reference to the information set forth under the captions “Director Compensation” and “Executive Compensation” in the 2026 Proxy Statement. Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. The information required by this item is incorporated by reference to the information set forth under the captions “Security Ownership of Certain Beneficial Owners and Management” and “Equity Compensation Plan Information” in the 2026 Proxy Statement. Item 13. Certain Relationships and Related Transactions, and Director Independence. The information required by this item is incorporated by reference to the information set forth under the captions “Certain Relationships and Related Person Transactions” and “Director Independence and Independence Determinations” in the 2026 Proxy Statement. Item 14. Principal Accountant Fees and Services. The information required by this item is incorporated by reference to the information set forth under the caption “Principal Accountant Fees and Services” in the 2026 Proxy Statement. 65 Table of Contents PART IV Item 15. Exhibits, Financial Statement Schedules. The following documents are filed as a part of this Annual Report. (a) Financial Statements Our Consolidated Financial Statements are listed in the “Index to Consolidated Financial Statements” under Part II, Item 8 of this Annual Report. (b) Financial Statement Schedules All financial statement schedules are omitted because the information called for is not required or is shown either in the consolidated financial statements or in the notes thereto. (c) Exhibits The exhibits listed below are filed as part of this Annual Report, or are incorporated herein by reference, in each case as indicated below. 66 Table of Contents EXHIBIT INDEX Exhibit No. Description of Exhibit 3.1 Amended and Restated Certificate of Incorporation (incorporated herein by reference to Exhibit 3.1 to the Company ’ s Current Report on Form 8-K filed on July 26, 2021). 3.2 Amended and Restated Bylaws (incorporated herein by reference to Exhibit 3.2 to the Company ’ s Current Report on Form 8-K filed on July 26, 2021). 4.1 Description of Securities (incorporated herein by reference to Exhibit 4.1 to the Company ’ s Annual Report on Form 10-K filed on March 11, 2022) 10.1 Thirteenth Amended and Restated Limited Liability Company Agreement of Zevia LLC Agreement dated as of July 21, 2021 (incorporated by reference to Exhibit 10.1 of the Company ’ s Periodic Report on Form 10-Q filed August 13, 2021). 10.2 Tax Receivable Agreement dated as of July 21, 2021 (incorporated by reference to Exhibit 10.2 of the Company ’ s Periodic Report on Form 10-Q filed on August 13, 2021). 10.3 Zevia PBC Eleventh Amended and Restated Registration Rights Agreement dated July 21, 2021 (incorporated by reference to Exhibit 10.3 of the Company ’ s Periodic Report on Form 10-Q, filed on August 13, 2021). 10.4 Form of Indemnification Agreement entered into with Directors and Executive Officers (incorporated by reference to Exhibit 10.4 of the Company ’ s Registration Statement on Form S-1/A filed on July 12, 2021). 10.5# Zevia PBC 2021 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.1 to the Company ’ s Registration Statement on Form S-8 filed on July 26, 2021). 10.6# Form of Restricted Stock Unit Award Grant Notice and Standard Terms and Conditions under the Zevia PBC 2021 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.2 to the Company ’ s Registration Statement on Form S-8 filed on July 26, 2021). 10.7# Form of Nonqualified Stock Options Grant Notice and Standard Terms and Conditions under the Zevia PBC 2021 Equity Incentive Plan (incorporated herein by reference to Exhibit 99.3 to the Company ’ s Registration Statement on Form S-8 filed on July 26, 2021). 10.8# Zevia 2020 Incentive Plan (incorporated herein by reference to Exhibit 10.6 of the Company ’ s Registration Statement on Form S-1 filed on June 25, 2021). 10.9# Form of Zevia LLC Notice of Restricted Class C Common Unit Award and Restricted Class C Common Unit Agreement (2020) (incorporated herein by reference to Exhibit 10.7 of the Company ’ s Registration Statement on Form S-1 filed on June 25, 2021). 10.10# Form of Zevia LLC Notice of Restricted Class C Common Unit Award and Restricted Class C Common Unit Agreement (2021) (incorporated herein by reference to Exhibit 10.8 of the Company ’ s Registration Statement on Form S-1 filed on June 25, 2021). 10.11# Form of Zevia LLC First Amendment to Notice of Restricted Class C Common Unit Award and Restricted Class C Common Unit Agreement (incorporated herein by reference to Exhibit 10.9 of the Company ’ s Registration Statement on Form S-1 filed on June 25, 2021). 10.12# Form of Zevia LLC Second Amendment to Notice of Restricted Class C Common Unit Award and Restricted Class C Common Unit Agreement (incorporated herein by reference to Exhibit 10.15 of Company ’ s Annual Report on Form 10-K filed on March 11, 2022). 10.13# Zevia LLC 2011 Unit Incentive Plan, as amended, and the Form of Unit Option Agreement (incorporated herein by reference to Exhibit 10.10 of the Company ’ s Registration Statement on Form S-1 filed on June 25, 2021). 10.14# Form of Zevia LLC 2011 Unit Incentive Plan, as amended, Second Amendment to Unit Option Agreement (incorporated herein by reference to Exhibit 10.17 of Company ’ s Annual Report on Form 10-K filed on March 11, 2022). 10.15# Form of Zevia LLC 2011 Unit Incentive Plan, as amended, Third Amendment to Unit Option Agreement (incorporated herein by reference to Exhibit 10.18 of Company ’ s Annual Report on Form 10-K filed on March 11, 2022). 10.16# Form of Zevia LLC Notice of Restricted Phantom Class C Common Unit Award and Restricted Phantom Class C Common Unit Agreement (incorporated herein by reference to Exhibit 10.11 of the Company ’ s Registration Statement on Form S-1 filed on June 25, 2021). 10.17# Form of Zevia LLC First Amendment to Notice of Restricted Phantom Class C Common Unit Award and Restricted Phantom Class C Common Unit Agreement (incorporated by reference to Exhibit 10.12 of the Company ’ s Registration Statement on Form S-1/A filed on July 12, 2021). 67 Table of Contents 10.18 Loan and Security Agreement, dated as of February 22, 2022, by and among Zevia LLC, certain of its subsidiaries from time to time joined hereto as borrowers, the financial institutions party thereto from time to time as Lenders and Bank of America, N.A., a national banking association, as agent for the Lenders thereto (incorporated herein by reference to Exhibit 10.1 of the Company ’ s Current Report on Form 8-K filed on February 24, 2022) . 10.19# Amended and Restated Offer Letter dated June 15, 2022, between Zevia PBC and Amy Taylor (incorporated herein by reference to Exhibit 10.3 of the Company ’ s Quarterly Report on Form 10-Q filed on August 11, 2022). 10.20# Amended and Restated Severance Agreement dated June 15, 2022, between Zevia PBC and Amy Taylor (incorporated herein by reference to Exhibit 10.4 of the Company ’ s Quarterly Report on Form 10-Q filed on August 11, 2022). 10.21# Letter Agreement dated February 7, 2024 between Zevia PBC and Girish Satya (incorporated herein by reference to Exhibit 10.1 of the Company's Quarterly Report on Form 10-Q filed on May 8, 2024). 10.22# Severance Agreement dated February 21, 2024 between Zevia PBC and Girish Satya (incorporated herein by reference to Exhibit 10.2 of the Company's Quarterly Report on Form 10-Q filed on May 8, 2024). 10.23# Form of Restricted Stock Unit Award Grant Notice and Standard Terms and Conditions under the Zevia PBC 2021 Equity Incentive Plan (for U.S. Employee SVP+) (incorporated herein by reference to Exhibit 10.24 of the Company's Annual Report on Form 10-K filed on February 26, 2025) . 10.24# Form of Nonqualified Stock Options Grant Notice and Standard Terms and Conditions under the Zevia PBC 2021 Equity Incentive Plan (for U.S. Employee SVP+) (incorporated herein by reference to Exhibit 10.25 of the Company's Annual Report on Form 10-K filed on February 26, 2025) . 10.25# Form of Restricted Stock Unit Award Grant Notice and Standard Terms and Conditions under the Zevia PBC 2021 Equity Incentive Plan (for Board Director) (incorporated herein by reference to Exhibit 10.26 of the Company's Annual Report on Form 10-K filed on February 26, 2025). 10.26 Conforming Changes Amendment, dated as of September 30, 2024, by Bank of America, N.A. (incorporated herein by reference to Exhibit 10.1 of the Company ’ s Periodic Report on Form 10-Q filed on November 6, 2024) 19.1 Zevia Insider Trading Policy (updated June 15, 2023) (incorporated herein by reference to Exhibit 19.1 of the Company's Annual Report on Form 10-K filed on February 26, 2025). 21.1* Subsidiaries of the Company. 23.1* Consent of Independent Registered Accounting Firm 31.1* Certification of Principal Executive Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2* Certification of Principal Financial Officer Pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32** Certification of Principal Executive Officer and Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 97 Zevia PBC Clawback Policy (incorporated herein by reference to Exhibit 97 of the Company's Annual Report on Form 10-K filed on March 6, 2024). 101.INS* Inline XBRL Instance Document 101.SCH* Inline XBRL Taxonomy Extension Schema With Embedded Linkbase Documents 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) * Filed herewith. ** Furnished herewith. # Management contract or compensatory plan or arrangement. Item 16. Form 10-K Summary None. 68 Table of Contents SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Annual Report to be signed on its behalf by the undersigned, thereunto duly authorized. Zevia PBC By: /s/ Amy E. Taylor Name: Amy E. Taylor Title: President and Chief Executive Officer (Principal Executive Officer) Date: February 25, 2026 Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated. By: /s/ Amy E. Taylor By: /s/ Girish Satya Name: Amy E. Taylor Name: Girish Satya Title: President and Chief Executive Officer, Director Title: Chief Financial Officer and Principal Accounting Officer (Principal Executive Officer) (Principal Financial Officer and Principal Accounting Officer) Date: February 25, 2026 Date: February 25, 2026 By: /s/ Padraic Spence By: /s/ Alexandre I. Ruberti Name: Padraic Spence Name: Alexandre I. Ruberti Title: Director and Board Chair Title: Director Date: February 25, 2026 Date: February 25, 2026 By: /s/ David J. Lee By: /s/ Suzanne Ginestro Name David J. Lee Name: Suzanne Ginestro Title Director Title: Director Date February 25, 2026 Date: February 25, 2026 By: /s/ Andrew Ruben By: /s/ Julie G. Ruehl Name: Andrew Ruben Name: Julie G. Ruehl Title: Director Title: Director Date: February 25, 2026 Date: February 25, 2026 69