Starbucks 8-K: Officer/Director Changes, Comp Arrangements on Jan 9

TL;DR

**Starbucks filed an 8-K on Jan 9 for executive changes and compensation.**

AI Summary

Starbucks Corporation filed an 8-K on January 9, 2024, to report an event related to the departure or election of directors or officers, and compensatory arrangements for certain officers. This filing also indicates that Starbucks is soliciting material pursuant to Rule 14a-12 under the Exchange Act. For investors, this matters because changes in leadership or executive compensation can signal shifts in company strategy or financial health, potentially impacting future stock performance.

Why It Matters

Changes in executive leadership or compensation structures can influence investor confidence and the company's strategic direction, directly affecting Starbucks' stock valuation.

Risk Assessment

Risk Level: medium — Changes in leadership can introduce uncertainty, but the specific details of the changes are not provided in this summary, making the risk level moderate.

Analyst Insight

Investors should monitor subsequent filings or company announcements for specific details regarding the executive changes and compensation arrangements to assess their potential impact on Starbucks' future performance.

Key Players & Entities

• Starbucks Corporation (company) — the registrant filing the 8-K
• January 9, 2024 (date) — date of earliest event reported and filing date
• SBUX (company) — trading symbol for Starbucks Common Stock
• Nasdaq Global Select Market (company) — exchange where Starbucks Common Stock is registered

FAQ

From the Filing

0000829224-24-000003.txt : 20240109 0000829224-24-000003.hdr.sgml : 20240109 20240109162657 ACCESSION NUMBER: 0000829224-24-000003 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240109 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240109 DATE AS OF CHANGE: 20240109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STARBUCKS CORP CENTRAL INDEX KEY: 0000829224 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING & DRINKING PLACES [5810] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 911325671 STATE OF INCORPORATION: WA FISCAL YEAR END: 0927 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20322 FILM NUMBER: 24523577 BUSINESS ADDRESS: STREET 1: P O BOX 34067 CITY: SEATTLE STATE: WA ZIP: 98124-1067 BUSINESS PHONE: 2064471575 MAIL ADDRESS: STREET 1: 2401 UTAH AVENUE SOUTH CITY: SEATTLE STATE: WA ZIP: 98134 8-K 1 sbux-20240109.htm 8-K sbux-20240109 false 0000829224 0000829224 2024-01-09 2024-01-09 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): January 9, 2024 Starbucks Corporation (Exact name of registrant as specified in its charter) Washington 000-20322 91-1325671 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)   2401 Utah Avenue South , Seattle , Washington 98134 (Address of principal executive offices) (Zip Code) ( 206 ) 447-1575 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)       ☑   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)       ☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))       ☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title Trading Symbol Name of each exchange on which registered Common Stock, par value $0.001 per share SBUX Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging Growth Company     ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Selection 13(a) of the Exchange Act.     o Item 5.02    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On January 9, 2024, the Board of Directors (“Board”) of Starbucks Corporation (the “Company”) increased the number of directors of the Company from eight to 11 and appointed Neal Mohan, Daniel Javier Servitje Montull, and Michael Sievert to serve as directors on the Board, effective immediately. Mr. Servitje was appointed to serve on the Company’s Environmental, Partner, and Community Impact Committee. The Board expects to appoint Mr. Mohan and Mr. Sievert to one or more committees at a later date. Mr. Mohan, Mr. Servitje, and