Form 4: Starbucks EVP Bradley Lerman Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Bradley Lerman, EVP and Chief Legal Officer of Starbucks, reports a transaction involving common stock due to tax withholding obligations and employee stock purchase plan.
Summary
- On May 15, 2024, Bradley E. Lerman, EVP and Chief Legal Officer of Starbucks, reported a change in beneficial ownership of Starbucks common stock.
- 952 shares were disposed of to satisfy tax withholding obligations upon the vesting of restricted stock units at a price of $75.7 per share.
- Following the transaction, Lerman beneficially owns 24,367.2977 shares of Starbucks common stock, which includes shares purchased through the Employee Stock Purchase Plan and dividend equivalents on unvested RSUs.
- Lerman has granted power of attorney to Bradley E. Lerman, Joshua C. Gaul, Stephanie A. Tso and Jonathan Miner to execute and file SEC forms on his behalf.
Sentiment
Score: 6
Explanation: The document is a standard SEC filing related to stock transactions. It doesn't contain information that would significantly impact investor sentiment positively or negatively. It's a neutral disclosure.
Industry Context
This filing is a routine disclosure related to executive stock transactions and is typical for publicly traded companies. It provides transparency into the holdings and transactions of company insiders.
Comparison to Industry Standards
- Executive compensation and stock ownership are common across publicly traded companies.
- Companies like McDonald's (MCD) and Dunkin' Brands (DNKN) also have similar reporting requirements for their executives' stock transactions.
- The level of stock ownership and the types of equity compensation (RSUs, ESPP) are generally in line with industry practices for executive compensation.
Stakeholder Impact
- The transaction has a minimal direct impact on shareholders, employees, customers, suppliers, or creditors.
- It provides transparency regarding executive stock ownership, which can be of interest to shareholders.
Key Dates
| Date | Description |
|---|---|
| March 25, 2024 | Date of Power of Attorney execution. |
| March 28, 2024 | Date of Employee Stock Purchase Plan transaction. |
| May 15, 2024 | Date of stock disposal for tax withholding. |
| May 17, 2024 | Date of Form 4 filing. |
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