This excerpt taken from the PBG DEF 14A filed Mar 31, 2006.
Section 16 Beneficial Ownership Reporting Compliance. Section 16(a) of the Securities Exchange Act of 1934 requires the Companys Directors, certain officers and persons who own more than ten percent of the outstanding Common Stock of the Company to file with the SEC reports of ownership and changes in ownership of the Capital Stock of the Company held by such persons. Officers, Directors and greater-than-ten percent shareholders are also required to furnish the Company with copies of all forms they file under this regulation. To the Companys knowledge, based solely on a review of the copies of such reports furnished to the Company, all Section 16(a) filing requirements applicable to all of its reporting persons were complied with during fiscal 2005 except as follows: (i) in July 2005, PepsiCo, Inc., a greater-than-ten percent shareholder of the Company made a late filing on Form 4 with respect to the sale of 90,000 shares of the Companys Common Stock; and (ii) in December 2005, as a result of a third-party administrative error, Steven M. Rapp, an executive officer of the Company, made a late filing on Form 4 with respect to two discretionary transactions reporting the aggregate disposition of 1,798 shares of the Companys Common Stock. To the Companys knowledge, all other transactions from 2005 have now been reported.