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 OF SECURITIES 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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(Print or Type Responses)

1. Name and Address of Reporting Person * KEISER KENNETH E   2. Issuer Name and Ticker or Trading Symbol PEPSIAMERICAS INC/IL/ [PAS] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President/COO (Last) (First) (Middle) 4000 DAIN RAUSCHER PLAZA 60 S. 6TH ST. 3. Date of Earliest Transaction (Month/Day/Year) 02/22/2007 (Street) MINNEAPOLIS, MN 55402 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 (City) (State) (Zip) 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 (1) 02/22/2007   A   60,000 A $ 0 263,578 D   Common Stock (2) 02/22/2007   A   113,000 A $ 0 376,578 (3) D   Common Stock               130,850 I By trust

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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 Underlying Securities (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

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
KEISER KENNETH E 4000 DAIN RAUSCHER PLAZA 60 S. 6TH ST. MINNEAPOLIS, MN 55402			President/COO

Signatures

/s/ Brian D. Wenger, attorney-in-fact		02/26/2007
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Represents a restricted stock award under the PepsiAmericas, Inc. 2000 Stock Incentive Plan, which vests in its entirety on the third anniversary of the date of grant.
(2)	Represents a performance-based restricted stock award under the PepsiAmericas, Inc. 2000 Stock Incentive Plan. Assuming the reporting person continues to be employed by the company as of such date, the award would become exercisable on January 1, 2010 (subject to satisfaction of the applicable company performance requirements). Fifty percent of the award would become exercisable on such date if performance criteria for fiscal year 2007 are achieved. The remaining fifty percent of the award would become exercisable on such date if performance criteria for fiscal year 2008 are achieved. If the performance criteria for fiscal year 2007 are not met, the reporting person would have the opportunity to have the award become exercisable in full on such date by exceeding certain performance criteria in fiscal year 2008.
(3)	Includes shares underlying the following restricted stock awards: (a) 60,000 shares under the first award disclosed on Table I above, (b) 113,000 shares under the second award disclosed on Table I above, (c) 69,000 shares under an award granted on February 23, 2006, which vests in its entirety on February 23, 2009, and (d) 70,000 shares under an award granted on February 24, 2005, which vests in its entirety on February 24, 2008.

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