Starbucks 8-K: Officer Changes & Compensation Details

Ticker: SBUX · Form: 8-K · Filed: 2024-11-21T00:00:00.000Z

Sentiment: neutral

Topics: officer-changes, compensation, corporate-governance

Related Tickers: SBUX

TL;DR

Starbucks filed an 8-K detailing officer changes and compensation, plus financial exhibits.

AI Summary

Starbucks Corporation filed an 8-K on November 21, 2024, reporting events as of November 19, 2024. The filing primarily concerns the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with details on compensatory arrangements for these individuals. It also includes financial statements and exhibits.

Why It Matters

This filing provides insight into potential leadership changes and executive compensation structures at Starbucks, which can influence investor confidence and company strategy.

Risk Assessment

Risk Level: medium — Changes in executive officers and compensation can signal shifts in company strategy or internal dynamics that may affect future performance.

Key Players & Entities

FAQ

What specific officer positions were affected by the changes reported in this 8-K?

The filing indicates changes related to 'Departure of Directors or Certain Officers', 'Election of Directors', and 'Appointment of Certain Officers', but does not specify the exact positions in the provided text.

Are the details of the compensatory arrangements for the officers included in this filing?

The filing mentions 'Compensatory Arrangements of Certain Officers' as an item being reported, suggesting that details are provided, though not explicitly listed in the excerpt.

What is the primary purpose of this Form 8-K filing for Starbucks?

The primary purpose is to report significant corporate events, including changes in directors or officers, and related compensation, as well as to file financial statements and exhibits.

When was the earliest event reported in this filing?

The earliest event reported in this filing occurred on November 19, 2024.

What is Starbucks Corporation's principal executive office address?

Starbucks Corporation's principal executive offices are located at 2401 Utah Avenue South, Seattle, Washington 98134.

From the Filing

0000829224-24-000059.txt : 20241121 0000829224-24-000059.hdr.sgml : 20241121 20241121160650 ACCESSION NUMBER: 0000829224-24-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20241119 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: 20241121 DATE AS OF CHANGE: 20241121 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: 241484282 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-20241119.htm 8-K sbux-20241119 false 0000829224 0000829224 2024-11-19 2024-11-19 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): November 19, 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 November 19, 2024, Starbucks Corporation (the “Company”) and Brian Niccol, the Company’s chief executive officer and chairman of the Company’s board of directors, agreed to amend Mr. Niccol’s offer letter, dated August 11, 2024 (the “Offer Letter”). Such amendments were made to (i) correctly capture the intent of the parties to the Offer Letter with respect to his performance-based equity grants and (ii) align with the Company’s grant practices with respect to annual equity grants, which are determined

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