secwatch.observer — SEC 8-K summary
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Issuer:     STARBUCKS CORP (SBUX)
CIK:        0000829224
Form:       8-K
Filed at:   2025-03-04T23:59:59+00:00
Accession:  0000829224-25-000016
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Starbucks appoints Cathy Smith as CFO as Rachel Ruggeri departs
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- Cathy Smith named EVP, CFO, effective date TBD; succeeds Rachel Ruggeri, who is leaving without cause.
- Smith's base salary $925K, target bonus 125% of salary; $5M cash signing bonus for forfeited prior employer awards.
- Smith receives replacement equity grant of $6.4M and FY2025 annual equity grant of $4.5M (60% PSUs, 40% RSUs).
- Smith was CFO at Nordstrom, Target, and Walmart International; Ruggeri assisted transition after 20 years at Starbucks.
- CEO Brian Niccol cites Smith's retail and turnaround experience for Back to Starbucks plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/829224/000082922425000016/0000829224-25-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/829224/000082922425000016/sbux-20250304.htm
  HTML page:      https://secwatch.observer/filing/0000829224-25-000016

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