SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 4)


Zevia PBC
(Name of Issuer)


Class A Common Stock
(Title of Class of Securities)


98955K104
(CUSIP Numbers)


Soulef Hadjoudj
Caisse de depot et placement du Quebec, 1000, place Jean-Paul-Riopelle
Montreal, A8, H2Z 2B3
(514) 847-5998
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

05/27/2026
(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ☐

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).




SCHEDULE 13D/A
CUSIP Number(s):
98955K104


1 Name of reporting person

CDP Investissements Inc.
2 Check the appropriate box if a member of a Group (See Instructions)

☐  (a)
☒  (b)
3SEC use only
4 Source of funds (See Instructions)

WC
5 Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

☐
6 Citizenship or place of organization

QUEBEC, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
7 Sole Voting Power: 0.00
8 Shared Voting Power: 11,400,428.00
9 Sole Dispositive Power: 0.00
10 Shared Dispositive Power: 11,400,428.00
11 Aggregate amount beneficially owned by each reporting person

11,400,428.00
12 Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

☐
13 Percent of class represented by amount in Row (11)

15.9 %
14 Type of Reporting Person (See Instructions)

CO



SCHEDULE 13D/A
CUSIP Number(s):
98955K104


1 Name of reporting person

Caisse de depot et placement du Quebec
2 Check the appropriate box if a member of a Group (See Instructions)

☐  (a)
☒  (b)
3SEC use only
4 Source of funds (See Instructions)

OO
5 Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

☐
6 Citizenship or place of organization

QUEBEC, CANADA
Number of Shares Beneficially Owned by Each Reporting Person With:
7 Sole Voting Power: 0.00
8 Shared Voting Power: 11,400,428.00
9 Sole Dispositive Power: 0.00
10 Shared Dispositive Power: 11,400,428.00
11 Aggregate amount beneficially owned by each reporting person

11,400,428.00
12 Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

☐
13 Percent of class represented by amount in Row (11)

15.9 %
14 Type of Reporting Person (See Instructions)

OO




SCHEDULE 13D/A

Item 1.Security and Issuer
(a) Title of Class of Securities:

Class A Common Stock
(b) Name of Issuer:

Zevia PBC
(c) Address of Issuer's Principal Executive Offices:

15821 Ventura Blvd., Suite 145, Encino, CALIFORNIA , 91436.
Item 1 Comment: This Amendment No. 4 (the "Amendment") amends the statement on Schedule 13D originally filed by the Reporting Persons on August 5, 2021, as amended by Amendment No. 1 filed by the Reporting Persons on July 2, 2025, Amendment No. 2 filed by the Reporting Persons on September 30, 2025 and Amendment No. 3 filed by the Reporting Persons on January 29, 2026 (as amended, the "Schedule 13D"). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings ascribed to such terms in the Schedule 13D. Except as otherwise provided herein, each Item of the Schedule 13D remains unchanged.
Item 2.Identity and Background
(f)
Item 2(f) of the Schedule 13D is amended and restated as follows: The citizenship of the natural persons who are officers, directors or controlling persons of each of the Reporting Persons is set forth in Annex A.
Item 5.Interest in Securities of the Issuer
(a)
Item 5(a) is amended and restated as follows: CDPI is the direct beneficial owner of 11,400,428 shares of Class A Common Stock, which represents approximately 15.9% of the Issuer's outstanding Class A Common Stock, based on 71,775,241 shares of Class A Common Stock outstanding as of May 1, 2026 as disclosed in the Issuer's Quarterly Report for the quarterly period ended March 31, 2026 on Form 10-Q (File No. 001-40630) filed with the Securities and Exchange Commission on May 6, 2026.
(c)
Item 5(c) is amended and restated as follows: The transactions by the Reporting Persons in the shares of Class A Common Stock during the past sixty days are set forth in Annex B. Except as otherwise disclosed therein, the Reporting Persons have not effected any transaction in the shares of Class A Common Stock in the last 60 days.

    SIGNATURE 
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 
CDP Investissements Inc.
 Signature:/s/ Soulef Hadjoudj
 Name/Title:Soulef Hadjoudj/Authorized Signatory
 Date:05/28/2026
 
Caisse de depot et placement du Quebec
 Signature:/s/ Soulef Hadjoudj
 Name/Title:Soulef Hadjoudj/Authorized Signatory
 Date:05/28/2026

Annex A

 

CDP INVESTISSEMENTS INC.

 

Directors and Officers

 

Name Business Address Principal
Occupation or Employment		 Citizenship
Kim Thomassin

1000, place Jean-Paul-Riopelle

Montréal, Québec

H2Z 2B3

 Corporate Director and President Canadian
Martin Longchamps

1000, place Jean-Paul-Riopelle

Montréal, Québec

H2Z 2B3

 Corporate Director and Vice-President Canadian
Christian Grimm

1000, place Jean-Paul-Riopelle

Montréal, Québec

H2Z 2B3

 Corporate Director and Vice-President Canadian

Alice Monet

1000, place Jean-Paul-Riopelle

Montréal, Québec

H2Z 2B3

 Corporate Secretary Canadian

 

 

CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

 

Directors and Officers

 

Name Business Address Principal Occupation or Employment Citizenship
Jean St-Gelais

1000, place Jean-Paul-Riopelle

Montréal, Québec

H2Z 2B3 

 Chairman of the Board of Directors Canadian
Jean-François Blais

1000, place Jean-Paul-Riopelle

Montréal, Québec

H2Z 2B3 

 Corporate Director Canadian
Ivana Bonnet Zivcevic

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Corporate Director Serbian, French
Alain Côté

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Corporate Director Canadian
Wendy Murdock

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Corporate Director Canadian
Lynn Jeanniot

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Corporate Director Canadian
Florence Brun-Jolicoeur

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3

Corporate Director

Director, Aviseo Conseil

 Canadian

 

 

 

 

René Dufresne

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

Corporate Director

President and Chief Executive Officer, Retraite Québec 

 Canadian
Olga Farman

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3

Corporate Director

President and Chief Executive Officer, Port de Québec

 Canadian
Nelson Gentiletti

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Corporate Director Canadian
Audrey Murray

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

Corporate Director

President and Chief Executive Officer, Commission de la construction du Québec

 Canadian
Ghislain Parent

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Corporate Director Canadian
Marc Tremblay

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec H2Z 2B3 

 Corporate Director Canadian
Charles Emond

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 President, Chief Executive Officer and Corporate Director Canadian
Sarah-Émilie Bouchard

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President, Global Strategy and Chief Operating Officer Canadian
Vincent Delisle

1000, place Jean-Paul-Riopelle
7th floor

Montréal, Québec

H2Z 2B3

 Executive Vice-President and Head of Liquid Markets Canadian
Ève Giard

1000, place Jean-Paul-Riopelle

5th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President, Talent and Performance Canadian
Emmanuel Jaclot

1000, place Jean-Paul-Riopelle

8th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President and Head of Infrastructure and Sustainability French
Kim Thomassin

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President and Head of Québec Canadian

 

 

 

 

Rana Ghorayeb

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President and Head of Real Estate Canadian
David Latour

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President and Chief Risk Officer Canadian
Martin Longchamps

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President and Head of Private Equity and Private Credit Canadian
Philippe Tremblay

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President, Depositors and Total Portfolio Canadian
Michel Lalande

1000, place Jean-Paul-Riopelle

11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President and Head of Legal and Global Affairs Canadian
Emanuelle Leclerc-Granger

1000, place Jean-Paul-Riopelle
11th floor

Montréal, Québec

H2Z 2B3 

 Executive Vice-President and Chief Financial and Information Officer Canadian
Luc Meunier

1000, place Jean-Paul-Riopelle
11th floor

Montréal, Québec

H2Z 2B3 

 Corporate Director Canadian

 

 

 

 

 

 

Annex B

 

Schedule of Transactions

 

CDP INVESTISSEMENTS INC.

 

None.

 

CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC

 

None.