Form 4: Starbucks Executive Bradley E. Lerman Reports Stock Transaction
SEC Form 4 Filing
Starbucks' Executive Vice President and Chief Legal Officer, Bradley E. Lerman, reported a transaction involving the withholding of shares to cover tax obligations.
Summary
- Bradley E. Lerman, an executive at Starbucks, filed a Form 4 disclosing a transaction.
- The transaction involved 842.385 shares of common stock being withheld by Starbucks to cover tax obligations related to the vesting of restricted stock units.
- This was not an open market transaction.
- Following the transaction, Lerman beneficially owns 23,859.2248 shares of Starbucks common stock.
- This total includes 303 shares representing dividend equivalents on unvested time-based RSUs and 31.3121 shares purchased through the Starbucks Employee Stock Purchase Plan on June 28, 2024.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing, indicating a standard transaction. There is no indication of positive or negative sentiment, but the transparency is a positive for investors.
Industry Context
Form 4 filings are a standard part of regulatory compliance for publicly traded companies, providing transparency into the transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are a common practice across all publicly traded companies in the US, including Starbucks' competitors such as Dunkin' Brands and McDonald's.
- These filings are required by the SEC to ensure transparency and prevent insider trading, and are a standard part of corporate governance.
- The transaction reported is typical for executives receiving stock-based compensation, where a portion of shares are withheld to cover tax liabilities.
Stakeholder Impact
- The transaction has a neutral impact on shareholders as it is a standard tax withholding event.
- The transaction does not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| 06/28/2024 | Date of purchase of 31.3121 shares through the Starbucks Employee Stock Purchase Plan. |
| 11/14/2024 | Date of the reported stock transaction where shares were withheld for tax obligations. |
| 11/18/2024 | Date the Form 4 was signed. |
Keywords
Form 4, Starbucks, Bradley E. Lerman, stock transaction, insider trading, restricted stock units, tax withholding, employee stock purchase plan
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