PEPSICO INC — Director's Dealing 2007

Feb 20, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: PEPSICO INC (PEP)
CIK: 0000077476
Period of Report: 2007-02-15

Reporting Person: BRIDGMAN PETER A (SVP and Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-02-15	PepsiCo, Inc. Common Stock	M	19481	$43.50	Acquired	67475.43	Direct
2007-02-15	PepsiCo, Inc. Common Stock	S	19481	—	Disposed	47994.43	Direct
2007-02-15	PepsiCo, Inc. Common Stock	M	20500	$43.50	Acquired	68494.43	Direct
2007-02-15	PepsiCo, Inc. Common Stock	S	20500	—	Disposed	47994.43	Direct
2007-02-16	PepsiCo, Inc. Common Stock	S	5000	—	Disposed	42994.43	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-02-15	Employee Stock Option (right to buy)	$43.50	M	20500	Disposed	2011-01-31	PepsiCo, Inc. Common Stock (20500)	Direct
2007-02-15	Employee Stock Option (right to buy)	$43.50	M	19481	Disposed	2011-01-31	PepsiCo, Inc. Common Stock (19481)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
PepsiCo, Inc. Common Stock	320.5	Indirect

Footnotes

F1: The shares with respect to this transaction were sold at prices ranging from $64.00 to $64.05.

F2: The shares with respect to this transaction were sold at prices ranging from $64.01 to $64.09.

F3: The shares with respect to this transaction were sold at prices ranging from $64.80 to $64.82.

F4: Reflects number of shares held under the reporting person's account in the PepsiCo 401(k) Plan as of 02/02/2007.