Form 8-K · Current Report · Filed 2024-11-21
Starbucks Amends CEO Brian Niccol's Equity Grant Terms
On November 19, 2024, Starbucks Corporation amended CEO Brian Niccol's offer letter to clarify that his replacement equity grant would have a target value of no less than $75 million and no more than $80 million, based on the closing stock price on the grant date.
- Filer
- Starbucks Corporation SBUX · NASDAQ
- Filed
- Accession
- 0000829224-24-000059
- CIK
- 0000829224
- Signal
- High impactConsumer Cyclical
- Source
- Official filing on sec.gov ↗
Details
Additionally, Mr. Niccol is eligible for an annual grant in fiscal year 2025 with a target value of $23 million, subject to adjustment based on his performance. The amendments were approved by the Company's board of directors.
Items reported
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Financial Statements and Exhibits
Market reaction
Close before filing
$98.26
Next session
+4.3%
Since filing
+7.1%
Latest close
$105.25
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from SBUX reporting the same item, with the next session's move:
Exhibits (1)
About Starbucks Corporation
Starbucks Corporation is a renowned global leader in the coffeehouse industry, offering a wide array of beverages including coffee, tea, and other specialty drinks, alongside complementary food items. The company operates retail locations worldwide, providing customers with a unique coffeehouse experience characterized by quality products and a welcoming atmosphere. Beyond its physical stores, Starbucks significantly impacts the coffee production industry, promoting sustainable sourcing and ethical supply chain practices. Its operations extend into grocery and convenience stores through products like ready-to-drink beverages and consumer-packaged coffee. Founded in 1971 and headquartered in Seattle, Washington, Starbucks Corporation is pivotal in shaping consumer beverage preferences and enhancing global coffee culture, influencing both retail and wholesale sectors.
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