secwatch.observer — SEC 8-K summary
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Issuer:     STARBUCKS CORP (SBUX)
CIK:        0000829224
Form:       8-K
Filed at:   2024-11-21T23:59:59+00:00
Accession:  0000829224-24-000059
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starbucks clarifies CEO Niccol's equity grants with $75-80M replacement and $23M FY2025 target
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- Replacement grant target value of $75M-$80M, calculated using grant-date closing price; board ratified amendments.
- FY2025 annual equity award set at $23M target value, adjustable by board based on performance.
- Amendments correct the original offer letter to align with company's grant practices using target value.
- Letter signed by Lead Independent Director Mellody Hobson and accepted by Brian Niccol on Nov 19, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/829224/000082922424000059/0000829224-24-000059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/829224/000082922424000059/sbux-20241119.htm
  HTML page:      https://secwatch.observer/filing/0000829224-24-000059

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