PEPSICO INC — Director's Dealing 2007

Oct 3, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PEPSICO INC (PEP)
CIK: 0000077476
Period of Report: 2007-10-01

Reporting Person: Ibarguen Alberto (Director)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-09-28	Phantom Stock Units	$	A	69.03	Acquired		PepsiCo, Inc. Common Stock (69.03)	Direct
2007-10-01	Phantom Stock Units	$	A	2026.75	Acquired		PepsiCo, Inc. Common Stock (2026.75)	Direct
2007-10-01	Phantom Stock Units	$	A	1351.17	Acquired		PepsiCo, Inc. Common Stock (1351.17)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PepsiCo, Inc. Common Stock	3455	Direct

Footnotes

F1: These phantom stock units are held under the PepsiCo Director Deferral Program and convert to shares of PepsiCo Common Stock on a one-for-one basis.

F2: Acquired on various dates between October 2, 2006 and September 28, 2007 through reinvestment of dividend equivalents pursuant to the PepsiCo Director Deferral Program, at prices ranging from $62.55 to $73.26, to be paid out in accordance with the terms of the underlying phantom stock units to which such dividend equivalents relate.

F3: This security represents the filing person's phantom stock units received for service as a director and is payable on the first day of the calendar quarter following the first anniversary of the filing person's retirement or resignation from PepsiCo's Board of Directors.

F4: This security represents the annual cash retainer, or portion thereof, that the filing person elected to defer and is payable on the first day of the year following the filing person's retirement or resignation from PepsiCo's Board of Directors.