PEPSICO INC — Director's Dealing 2007

May 1, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PEPSICO INC (PEP)
CIK: 0000077476
Period of Report: 2007-04-27

Reporting Person: MOORE MARGARET D (SVP, Human Resources)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-04-27	PepsiCo, Inc. Common Stock	M	24343	$43.50	Acquired	99607	Direct
2007-04-27	PepsiCo, Inc. Common Stock	S	24343	—	Disposed	75264	Direct
2007-04-27	PepsiCo, Inc. Common Stock	M	43015	$34.00	Acquired	118279	Direct
2007-04-27	PepsiCo, Inc. Common Stock	S	43015	$66.00	Disposed	75264	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-04-27	Employee Stock Option (right to buy)	$34.00	M	43015	Disposed	2010-01-31	PepsiCo, Inc. Common Stock (43015)	Direct
2007-04-27	Employee Stock Option (right to buy)	$43.50	M	24343	Disposed	2011-01-31	PepsiCo, Inc. Common Stock (24343)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PepsiCo, Inc. Common Stock	476	Indirect
PepsiCo, Inc. Common Stock	732	Indirect

Footnotes

F1: This amount includes 206 shares acquired as dividends from January 9, 2007 through April 27, 2007.

F2: The shares with respect to this transaction were sold at prices ranging from $66.00 to $66.09.

F3: Reflects number of shares held under the reporting person's account in the PepsiCo 401(k) Plan as of 04/27/2007.

F4: This amount includes 4 shares acquired as dividends from January 9, 2007 through April 27, 2007.