secwatch.observer — SEC 8-K summary
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Issuer:     STARBUCKS CORP (SBUX)
CIK:        0000829224
Form:       8-K
Filed at:   2023-03-28T23:59:59+00:00
Accession:  0000829224-23-000025
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starbucks amends CEO severance plan: 2x base+bonus without cause, 2.99x after change of control
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- CEO added to Starbucks Executive Severance and CIC Plan effective March 22, 2023.
- Non-CIC termination without cause: severance equals 2x annual base salary plus target bonus.
- Change-of-control termination (24 mo. after or 89 days prior): severance equals 2.99x base + bonus.
- Plan otherwise unchanged from August 2022 version; only CEO participation and multiples added.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/829224/000082922423000025/0000829224-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/829224/000082922423000025/sbux-20230322.htm
  HTML page:      https://secwatch.observer/filing/0000829224-23-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer