Form 4: Starbucks EVP Sara Kelly Reports Changes in Beneficial Ownership

Sara Kelly, EVP and Chief Partner Officer at Starbucks, reports a transaction involving the withholding of shares to cover tax obligations and shares purchased through the employee stock purchase plan.

Summary

• On April 15, 2024, Sara Kelly, EVP and Chief Partner Officer of Starbucks, reported changes in her beneficial ownership of Starbucks common stock.
• The reported transaction involved the withholding of 273 shares to satisfy tax obligations upon the vesting of restricted stock units at a price of $85.17.
• Kelly also reported owning 46,691.1845 shares of Starbucks common stock following the reported transaction, which includes 40.3128 shares purchased on March 28, 2024, through the Starbucks Corporation Employee Stock Purchase Plan.
• A power of attorney was attached to the filing, authorizing Bradley E. Lerman, Joshua C. Gaul, Stephanie A. Tso, and Jonathan Miner to act on Kelly's behalf for SEC filings related to beneficial ownership.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral. It reflects standard executive compensation practices and tax obligations.

Industry Context

Executive stock transactions are routinely monitored by investors as they can provide insights into management's perspective on the company's performance and future prospects. Form 4 filings are a standard part of regulatory compliance for corporate insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for executives at publicly traded companies like Starbucks, including peers such as McDonald's (MCD) and Dunkin' Brands (now part of Inspire Brands).
• The reporting requirements are consistent across companies and are mandated by the SEC to ensure transparency in insider trading.
• The employee stock purchase plan is a common benefit offered by many large corporations, including Starbucks, to incentivize employee ownership.

Stakeholder Impact

• The transaction has a minimal direct impact on shareholders, as it primarily reflects tax obligations and employee stock purchase plan activity.
• The power of attorney ensures continued compliance with SEC regulations.

Key Dates