FORM 4
☒

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person *
POHLAD ROBERT C
 2. Issuer Name and Ticker or Trading Symbol
PEPSIAMERICAS INC/IL/ [PAS] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman of the Board / CEO
(Last)
(First)
(Middle)

60 SOUTH SIXTH STREET, SUITE 4000		 3. Date of Earliest Transaction (Month/Day/Year)
02/26/2010
(Street)

MINNEAPOLIS, MN 55402
(City)
(State)
(Zip)
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing
(Check applicable line)

__X__ Form Filed by One Reporting Person
_____ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)

2. Transaction Date (Month/Day/Year)

2A. Deemed Execution Date, if any (Month/Day/Year)

3. Transaction Code (Instr. 8)

4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)

5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)

6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)

7. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

Amount

(A) or (D)

Price

Common Stock

02/26/2010 D 456,430 (1) D (2) 0 D 

Common Stock

02/26/2010 D 192,592D (2) 0 I

By Robert C. Pohlad 2008-2016 GRAT

Common Stock

02/26/2010 D 12,116,189D (2) 0 I

see footnote (3)



Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (right to buy)

 $12.6802/26/2010 D  176,400  (4) 02/21/2012

Common Stock

176,400 (5) 0 D 

Stock Option (right to buy)

 $12.0102/26/2010 D  115,900  (4) 02/26/2013

Common Stock

115,900 (5) 0 D 

Stock Option (right to buy)

 $18.9202/26/2010 D  122,000  (4) 02/16/2014

Common Stock

122,000 (5) 0 D 

Explanation of Responses:
1.

Includes former restricted stock awards that, pursuant to the terms of the restricted stock award agreements and the below-described Merger Agreement, vested at the effective time of the Merger.

2.

On August 3, 2009, PepsiAmericas, Inc. ("PAS"), PepsiCo, Inc. ("PEP"), and Pepsi-Cola Metropolitan Bottling Company, Inc. ("Metro"), a wholly-owned subsidiary of PEP, entered into a merger agreement (the "Merger Agreement"), pursuant to which PAS would merge with and into Metro with Metro continuing as the surviving entity (the "Merger"). The Merger became effective at 4:01 p.m. (EST) on February 26, 2010 (the "Closing Date"). At the effective time of the Merger, each share of PAS common stock held by the reporting person converted into the right to receive cash consideration for approximately 48.3% of their shares and shares of PEP common stock for approximately 51.7% of their shares (the "Merger Consideration"). The closing sale price of PEP common stock on the Closing Date was $62.47 per share. Accordingly, the value of the Merger Consideration on the Closing Date for each share of PAS common stock was approximately $29.99, representing (.483 x $28.50) + (.517 x.5022 x $62.47).

3.

Represents 12,116,087 shares held by Starquest Securities, LLC and 102 shares held by Pohlad Companies.

4.

This option vested in three equal annual installments commencing on the first anniversary of the date of grant.

5.

In the Merger, each outstanding option to purchase PAS common stock was converted to an option to purchase PEP common stock on substantially the same terms, except that the number of options was adjusted by multiplying the number of PAS options by approximately .4796 and the exercise price was adjusted by dividing the PAS exercise price by .4796.



Signatures

/s/ Brian D. Wenger, attorney-in-fact

02/26/2010
** Signature of Reporting PersonDate
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