Starbucks

On March 20, 2023, Starbucks Corporation (the “Company”) announced that Laxman Narasimhan has assumed the role of chief executive officer, effective March 20, 2023. In connection with Mr. Narasimhan’s assumption of the chief executive officer role, Howard Schultz will transition from the role of interim chief executive officer. Mr. Schultz will remain as a member of the Starbucks board of directors.

On October 5, 2022, Javier Teruel informed Starbucks Corporation that he is resigning from the Board of Directors effective immediately.

On August 31, 2022, the Compensation and Management Development Committee (the “Committee”) of the Board of Directors of Starbucks Corporation (the “Company”) approved the Starbucks Executive Severance and Change in Control Plan (the “Severance and CIC Plan”) to align more closely the Company’s executive compensation programs with market practice. Eligible participants will consist of the Company’s U.S. based executives at the executive vice president level or above, who have been designated to participate in the Severance and CIC Plan by the Committee, and who have executed a participation agreement.

On August 31, 2022, the Board of Directors (the “Board”) of Starbucks Corporation (the “Company” or “Starbucks”) approved the appointment of Laxman Narasimhan as chief executive officer-elect of the Company, reporting to our interim chief executive officer. In connection with the appointment, Mr. Narasimhan received an offer letter, which includes a statement of employment terms that Mr. Narasimhan and the Company executed on September 1, 2022 (the “Offer Letter”). Mr. Narasimhan will serve as an executive officer of the Company beginning on his start date, which is expected to be October 1, 2022. The Offer Letter provides that on or before April 1, 2023, Mr. Narasimhan will be appointed chief executive officer of the Company, reporting to the Board. Upon elevation to chief executive officer, Mr.

On August 19, 2022, Mary N. Dillon informed Starbucks Corporation that she is resigning from the Board of Directors effective September 1, 2022.

In connection with a redesign of the organizational structure at Starbucks Corporation (the “Company” or “Starbucks”), the chief operating officer role is being eliminated, effective as of October 1, 2022, and John Culver will be departing from the role of group president, North America and chief operating officer on such date. Mr. Culver will serve in an advisory capacity to Starbucks through January 1, 2023. In connection with the elimination of Mr. Culver’s current position, the Company will enter into a Separation Agreement and Release with Mr. Culver (the “Separation Agreement”). The terms of the Separation Agreement will provide (1) that Mr. Culver’s employment with Starbucks will terminate on January 1, 2023 (the “Separation Date”) and (2) from October 1, 2022 through the Separation Date, Mr.

In connection with new executive leadership, Starbucks Corporation (the “Company” or “Starbucks”) has decided to make a change in the general counsel position, and Rachel Gonzalez will transition from the role of executive vice president and general counsel on April 4, 2022. Ms. Gonzalez will serve in an advisory capacity to Starbucks until her departure from Starbucks effective May 20, 2022. In connection with this transition, the Company entered into a Separation Agreement and Release with Ms. Gonzalez (the “Separation Agreement”) on March 31, 2022 (the “Effective Date”). The terms of the Separation Agreement provide (1) Ms. Gonzalez’s employment with Starbucks will end on May 20, 2022 (the “Separation Date”) and (2) from April 4, 2022 through the Separation Date, Ms.

At the 2022 Annual Meeting of the Shareholders of Starbucks Corporation (the “Company”), the Company’s shareholders approved the amendment and restatement of the Company’s 2005 Long-Term Equity Incentive Plan (the “Equity Plan”) to, among other things, increase the number of shares authorized for issuance under the Equity Plan by 65 million additional shares and eliminate the termination date of the Equity Plan. The amendment and restatement of the Equity Plan previously had been approved, subject to shareholder approval, by the Board of Directors of the Company on November 9, 2021.

On March 13, 2022, Kevin R. Johnson notified the board of directors (the “board”) of Starbucks Corporation (“Starbucks”) of his decision to retire as president and chief executive officer and as a member of the board, effective April 4, 2022. Following such date, Mr. Johnson will continue to provide executive transition services until the end of fiscal year 2022, and his base salary and annual bonus opportunity will be reduced by 50%, effective June 1, 2022. In order to facilitate an orderly transition in connection with Mr. Johnson’s departure, on March 15, 2022, the board appointed Starbucks founder and former president and chief executive officer, Howard Schultz, as interim president and chief executive officer and as a member of the board, effective April 4, 2022. Mr.

On February 4, 2022, Starbucks Corporation (the “Company”) approved Jill L. Walker’s transition from her role as senior vice president, Corporate Financial Services and chief accounting officer of the Company as a result of her taking an unpaid sabbatical leave from the Company (also known as a Starbucks “Coffee Break”), effective February 25, 2022. As a result of Ms. Walker’s sabbatical leave, effective February 25, 2022, our executive vice president, chief financial officer, Rachel Ruggeri, 52, will be appointed as the Company's principal accounting officer and will continue to serve in her role as the Company’s principal financial officer. Ms. Ruggeri has served as the Company’s executive vice president, chief financial officer since February 1, 2021. Ms.

Amended and Restated Executive Management Bonus Plan On January 12, 2022, the Compensation and Management Development Committee (the “Committee”) of the Board of Directors (the “Board”) of Starbucks Corporation (the “Company”) approved the amendment and restatement of the Company’s Executive Management Bonus Plan (the “EMBP” and, as amended, the “Amended EMBP”), which provides for the grant of annual incentive awards to eligible partners of the Company, including the Company's named executive officers. The EMBP was amended and restated to, among other things, provide that the Committee may determine the performance goals and payout formula for each performance period based on one or more of the performance criteria and factors set forth in the Amended EMBP.

Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer. On June 15, 2021, Starbucks Corporation (the “ Company ” or “ Starbucks ”) announced the appointment of John Culver, who is serving as group president, International, Channel Development and Global Coffee, Tea & Cocoa, as group president, North America and chief operating officer, effective June 28, 2021. Mr. Culver’s appointment is in addition to the other senior management changes described in the press release furnished under

Starbucks Corporation (the “Company” or “Starbucks”) today announced that Rosalind (Roz) Brewer has informed the Company that she is resigning from her position as chief operating officer and group president, effective February 26, 2021, to become the chief executive officer of another publicly traded company. Beginning February 8, 2021, Ms. Brewer’s responsibilities will transition to other members of the Starbucks leadership team. Rossann Williams, executive vice president, president U.S. company-operated business and Canada and a 16 year Starbucks partner (employee), will assume responsibility for the U.S. licensed stores, Latin America, Global Supply Chain and Global Store Concepts/Area Transformation businesses.

Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer. On January 7, 2021, Starbucks Corporation (the “Company” or “Starbucks”) announced the appointment of Rachel Ruggeri as executive vice president and chief financial officer, effective February 1, 2021. In this capacity, Ms. Ruggeri will serve as the Company’s principal financial officer. The Company also announced that Patrick Grismer will retire as executive vice president and chief financial officer of the Company effective February 1, 2021. Effective February 1, 2021, Mr. Grismer will transition to a senior advisor role but remain employed (with the same base salary and benefits) through May 2, 2021 subject to the execution of legal documentation. Ms. Ruggeri, 51, has 28 years of experience in accounting, financial planning and analysis, and business process improvement.

Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer. On December 9, 2020, Starbucks Corporation (the “Company”) issued a press release announcing that Mellody Hobson will serve as the Company’s next non-executive chair of its board of directors starting in March 2021. Ms. Hobson, who first joined the board as an independent director in 2005 and was appointed as the board’s independent vice chair in 2018, will succeed Myron (E.) Ullman, III. Mr. Ullman has served on the board since 2003 and has served as its chair since 2018. On March 17, 2021, in connection with the 2021 Annual Meeting of Shareholders, Mr. Ullman will retire from the board and Ms. Hobson will assume the role of chair of the board.

Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officer. On October 15, 2020, Starbucks Corporation (the “Company”) communicated to partners (employees) that Lucy Helm, executive vice president and chief partner officer, will retire on October 30, 2020 (the “retirement date”) and that, effective November 2, 2020, Angela Lis, a 25-year Starbucks partner, will become executive vice president and chief partner officer of the Company. Prior to this appointment, Ms. Lis served as the senior vice president of Global Business Partners of the Company. Ms. Helm will continue her service to the Company in an advisory role from the retirement date through December 1, 2020.

On December 9, 2019, the Board of Directors (“Board”) of Starbucks Corporation (the “Company”) approved one-time long-term cash performance-based awards tied to relative total shareholder return (“TSR”) over a three-year performance period (“Awards”) to Kevin R. Johnson, the Company’s president and chief executive officer (“ceo”), and Rosalind G. (Roz) Brewer, the Company’s group president, Americas and chief operating officer (“coo”). The Awards primarily support the Company’s leadership retention process and reflect the Board’s commitment to building an organization with long-term leadership continuity.

On September 11, 2019, the Board of Directors of Starbucks Corporation (the “Company”) increased the number of directors of the Company from 10 to 13 and elected each of Richard E. Allison, Jr., Andrew Campion and Isabel Ge Mahe to serve as a director of the Company. Mr. Allison was appointed to serve on the Company’s Compensation and Management Development Committee. Mr. Campion was appointed to serve on the Company’s Audit and Compliance Committee. Ms. Mahe was appointed to serve on the Company’s Nominating and Corporate Governance Committee. Each of the new directors will participate in the standard compensation program for non-employee directors, including, for each director’s first year on the Board, prorated annual compensation.

On March 18, 2019, Starbucks Corporation (“Starbucks” or the “Company”) announced that Cliff Burrows, group president, Siren Retail, is taking an extended unpaid leave from the Company (i.e., Starbucks “Coffee Break” or sabbatical), effective April 1, 2019.

On March 4, 2019, Starbucks Corporation (the “Company”) promoted Jill L. Walker, 47, to senior vice president, Corporate Financial Services and chief accounting officer. In this capacity, Ms. Walker continues to report to Patrick J. Grismer, executive vice president, chief financial officer, and serves as the Company’s principal accounting officer. Mr. Grismer continues as the Company’s principal financial officer, with principal accounting officer responsibility transferring from him to Ms. Walker. Ms. Walker joined the Company in March 2000, has served as vice president, controller, since April 2013 and held a number of accounting, financial reporting and finance roles with the Company prior to being named controller. Before joining the Company, Ms. Walker was an audit manager with KPMG LLP. In connection with Ms.

On October 8, 2018, Starbucks Corporation (the “Company”) announced the appointment of Patrick J. Grismer as executive vice president, chief financial officer, effective November 30, 2018. In this capacity, Mr. Grismer will serve as the Company’s principal financial officer and principal accounting officer, effective November 30, 2018. Mr. Grismer is expected to join the Company as executive vice president on November 12, 2018. As previously announced, Scott Maw will retire as chief financial officer of the Company on November 30, 2018 and will serve as a senior consultant through March 31, 2019. Mr. Grismer, 56, has been Executive Vice President, Chief Financial Officer of Hyatt Hotels Corporation, a global hospitality company, since March 2016, where he is responsible for Hyatt’s global finance function. Mr.

) is reflected in the EDGAR system for the submission of the Current Report on Form 8-K filed June 28, 2018 with respect to the upcoming retirement of the Company’s chief financial officer and to conform the date listed on the cover page of the 8-K with the date of the transition agreement, June 27, 2018 (which date was disclosed and set forth in the body of the originally filed 8-K). No substantive changes have been made to the disclosures previously provided.

Retirement of Howard Schultz On June 1, 2018, Howard Schultz notified the Board of Directors (the “Board”) of Starbucks Corporation (the “Company”) that he will retire as Executive Chairman and as a director of the Company, and resign from all other positions with the Company and its affiliates, effective as of June 26, 2018 (the “Retirement Date”). In connection with Mr. Schultz’s retirement, on June 1, 2018, the Company entered into a Retirement Agreement with Mr. Schultz (the “Retirement Agreement”), recognizing Mr. Schultz for his entrepreneurship and leadership over nearly four decades during which Starbucks has become one of the world’s leading brands and the largest retail coffee chain in the world with over 28,000 stores, and honoring him in his retirement with the lifetime honorary role of Founder and Chairman Emeritus.

Effective April 27, 2018, Rachel A Gonzalez joined Starbucks Corporation (the “Company”) as executive vice president, general counsel and secretary and, as a result, Paul Mutty ceased serving as interim general counsel of the Company, a role he held since August 1, 2017. Mr. Mutty will continue serving as senior vice president, deputy general counsel and assistant secretary.

of the Original Report in its entirety solely to add a new third paragraph. No other changes were made to the Original Report. Reference to the Exhibit 10.1 in this Amendment is reference to Exhibit 10.1 filed with the Original Report.

On September 6, 2017, Starbucks Corporation (the “ Company ” or “ Starbucks ”) announced the appointment of Rosalind Brewer as group president, chief operating officer. She is expected to start in her new role effective October 2, 2017. Ms. Brewer ceased membership on all Starbucks board committees prior to her appointment as group president, chief operating officer. She will continue to serve on the Starbucks board of directors, which she joined in March 2017. Ms. Brewer, 55, currently a non-employee director of the Company, served as President and Chief Executive Officer of Sam’s Club, a membership-only retail warehouse club and a division of Walmart, from February 2012 to February 2017. Previously, Ms.

On December 1, 2016, Starbucks Corporation (“Starbucks”) filed a Current Report on Form 8-K (the “Original 8-K) reporting that Kevin R. Johnson, currently president and chief operating officer, would become president and ceo, and that Howard Schultz, currently chairman and ceo, would become executive chairman, both such appointments to be effective April 3, 2017. On March 21, 2017, the Board of Directors of Starbucks approved, based on the recommendation of the Compensation and Management Development Committee of the Starbucks Board of Directors, compensation for Messrs. Johnson and Schultz in their new roles. This filing is being made to amend the Original 8-K to include the following information regarding these new compensation arrangements: (a) annualized base salary for Mr. Johnson was increased to $1,300,000; (b) annualized base salary for Mr. Schultz was reduced to $1; (c) Mr.

On December 1, 2016, Starbucks Corporation (the “ Company ” or “ Starbucks ”) announced the appointment of Kevin R. Johnson, currently president and chief operating officer of Starbucks, as president and chief executive officer of the Company and Howard Schultz, currently chairman and ceo of Starbucks, as executive chairman, such appointments to be effective April 3, 2017. In his new role as executive chairman, Mr. Schultz will shift his focus to innovation, design and development of Starbucks Reserve ® Roasteries around the world, expansion of the Starbucks Reserve ® retail store format and the Company’s social impact initiatives. Mr. Schultz will continue to serve as chairman of the Company’s Board of Directors in this new role. Mr. Johnson, 56, has served as president and chief operating officer of the Company since March 2015.

On July 25, 2016, Starbucks Corporation (the “ Company ” or “ Starbucks ”) announced the following senior leadership changes to be effective September 1, 2016. Cliff Burrows, group president, U.S. and Americas, will assume the role of group president, Siren Retail. In this new role, Mr. Burrows will have global responsibility for the Starbucks Reserve ® Roastery & Tasting Rooms, as well as the Starbucks Reserve ® -only stores. He will also lead the expansion of stand-alone Princi locations including integration of Princi as the exclusive food purveyor at the Starbucks Reserve ® Roastery & Tasting Rooms and the Starbucks Reserve ® -only stores. In addition, Mr. Burrows will have responsibility globally for the Teavana retail business. He will remain a member of Starbucks senior leadership team and will report to Howard Schultz, chairman and ceo.

On February 24, 2016, Troy Alstead, former chief operating officer of Starbucks Corporation (the “Company”), notified the Company that he would not return from his extended unpaid leave (i.e., Starbucks "Coffee Break" or sabbatical) that began on March 1, 2015, and would resign from the Company effective February 29, 2016.

On January 4, 2016, the Board of Directors of Starbucks Corporation (the “Company”) increased the number of directors of the Company from 12 to 13 and elected Mary N. Dillon to serve as a director of the Company. Ms. Dillon was also appointed to serve on the Company’s Compensation and Management Development Committee. Ms. Dillon will participate in the standard compensation program for non-employee directors, including, for the director’s first year on the Board, a prorated portion, based on the month the director joined the Board, of the $260,000 annual non-employee director compensation in the form of equity awards. There is no arrangement or understanding pursuant to which Ms. Dillon was elected as a director, and there are no related party transactions between the Company and Ms. Dillon that would require disclosure under Item 404(a) of Regulation S-K.