UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A | |||
Proxy Statement Pursuant to Section 14(a) of the | |||
Securities Exchange Act of 1934 | |||
(Amendment No. ) | |||
☑ | Filed by the Registrant | ☐ | Filed by a party other than the Registrant |
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- Preliminary Proxy Statement
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- Definitive Proxy Statement
- Definitive Additional Materials
- Soliciting Material under §240.14a-12
STARBUCKS CORPORATION
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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Fiscal 2020 Annual Incentive Bonus Plan
Adjusted Net | + | Adjusted Operating | + | Individual | |||||||
Revenue | Income | ||||||||||
Base ($) | X | Target Annual Incentive Opportunity (%) X | Performance Factor | ||||||||
(weighted 40%) | (weighted 60%) | ||||||||||
weighted 70% | weighted 30% | ||||||||||
- Individual Performance Factor ("IPF") accounts for 30% of the target value
- IPF is assessed against pre-established strategic, operational and leadership goals as well as retrospective review
Fiscal 2020 Leadership Stock Plan
Annual EPS Performance Averaged Over 3 Years X | 3-yr rTSR vs S&P 500 | + | Time-Based RSUs | |
(upward & downward modifier) | ||||
60% Performance RSUs | 40% Time-Based RSUs | |||
- Time-basedRestricted Stock Units ("RSUs") account for 40% of annual awards, to better balance ownership and retention
- Performance-basedRSUs account for the remaining 60% of awards, measured on a three-year performance period with a three-year relative total shareholder return ("rTSR") modifier in order to further align compensation with shareholder interests
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Annual Incentive Bonus Plan ($ in millions)
FY19 | FY20 | FY21 | ||||||||||
PRSU Granted 11/14/2018 | Min | Target | Max | Min | Target | Max | Min | Target | Max | |||
EPS: Goals by Year | $2.465 | $2.656 | $2.901 | $2.891 | $3.043 | $3.196 | ||||||
EPS: Actual | $2.731 | $1.154 | ||||||||||
Payout Result | 130% | 0% | ||||||||||
TSR Result | ||||||||||||
FY20 | FY21 | FY22 | ||||||||||
PRSU Granted 11/13/2019 | Min | Target | Max | Min | Target | Max | Min | Target | Max | |||
EPS: Goals by Year | $2.891 | $3.043 | $3.196 | |||||||||
EPS: Actual | $1.154 | |||||||||||
Payout Result | 0% |
TSR Result
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*This information has been updated from the 2021 proxy statement, filed with the SEC on January 22, 2021 | 12 |
Richard E. | Rosalind G. | Andrew | Mary N. | Isabel | Mellody | Kevin R. |
Allison, Jr. | Brewer *(1) | Campion | Dillon | Ge Mahe | Hobson | Johnson * |
(Independent | ||||||
Vice Chair) (2) |
Jørgen Vig | Satya | Joshua | Clara | Javier G. | Myron E. | ||
Knudstorp | Nadella | Cooper Ramo | Shih | Teruel | Ullman, III | ||
* (Green) denotes current Starbucks partner (employee). | (Independent Chair) (2) | ||||||
(1) | On January 25, 2021, Rosalind (Roz) Brewer informed the Company that she was resigning from the Board effective February 26, 2021. In | ||||||
connection with her resignation, Ms. Brewer has withdrawn as a candidate for re-election as a director at the Annual Meeting. | |||||||
(2) | Myron E. Ullman III, the current Board Chair, has reached the retirement age under our Corporate Governance Principles and Practices, and | ** This snapshot information has been updated from the 2021 proxy statement, filed 13 | |||||
will not stand for re-election at the Annual Meeting. If re-elected at the Annual Meeting, Mellody Hobson will become the next independent |
chair of the board, in connection with Mr. Ullman's retirement.
with the SEC on January 22, 2021.
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*This information has been updated from the 2021 proxy statement, filed with the SEC on January 22, 2021
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*This information has been updated from the 2021 proxy statement, filed with the SEC on January 22, 2021
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*This information has been updated from the 2021 proxy statement, filed with the SEC on January 22, 2021 | 22 |
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Starbucks Corporation published this content on 04 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 February 2021 09:05:01 UTC.