Form 4: Starbucks Exec's Routine Stock Transaction

Starbucks EVP Sara Kelly reported a disposition of shares to cover tax obligations from restricted stock unit vesting, while also disclosing recent ESPP purchases and dividend equivalents.

Summary

• Sara Kelly, EVP, Chief Partner Officer of Starbucks, reported a transaction on September 15, 2025.
• 146.101 shares of Common Stock were disposed of at a price of $82.68 per share.
• This disposition was due to shares being withheld by Starbucks to satisfy tax withholding obligations upon the vesting of restricted stock units, and was not an open market transaction.
• Following this transaction, Sara Kelly beneficially owns 46,380.254 shares of Starbucks Common Stock.
• The total beneficial ownership includes 34.6843 shares purchased on June 30, 2025, through the Starbucks Employee Stock Purchase Plan (ESPP).
• It also includes 214 shares representing dividend equivalents received on unvested time-based restricted stock units.

Sentiment

Score: 5

Explanation: The filing reports a routine insider transaction involving shares withheld for tax purposes upon RSU vesting, alongside minor ESPP purchases and dividend equivalents, which is a neutral event for company operations and does not indicate a significant shift in company performance or outlook.

Positives

• Vesting of restricted stock units indicates compensation realization for the executive.
• Participation in the Employee Stock Purchase Plan (ESPP) suggests continued confidence and investment by the executive in the company.
• Receipt of dividend equivalents on unvested restricted stock units adds to the executive's equity holdings.

Negatives

• Disposition of shares, even for tax purposes, reduces the executive's direct holdings.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: Minimal direct impact as it is a routine tax-related disposition, not an open market sale indicating a change in sentiment.
• Employees: The executive's participation in the ESPP could be seen as a positive signal of internal confidence.

Key Dates

Recommendation

This Form 4 details a routine executive compensation event, specifically the withholding of shares for tax obligations upon restricted stock unit vesting, along with minor Employee Stock Purchase Plan acquisitions and dividend equivalents. Such transactions are standard and do not reflect a change in the company's fundamental performance or outlook, thus not warranting a change in investment recommendation.

Keywords

Starbucks, SBUX, Form 4, Insider Transaction, Executive Compensation, Restricted Stock Units, ESPP, Sara Kelly, Equity