Form 4: Starbucks Executive Michael Conway Sells Shares Under 10b5-1 Trading Plan

Michael Conway, CEO of North America at Starbucks, sold 3,250 shares of common stock at $80 per share on June 14, 2024, under a pre-arranged trading plan.

Summary

• On June 14, 2024, Michael Conway, the CEO of North America at Starbucks, sold 3,250 shares of Starbucks common stock.
• The sale was executed at a price of $80 per share.
• This transaction was conducted under a Rule 10b5-1 trading plan adopted on November 14, 2023.
• Following the transaction, Conway still beneficially owns 78,303.752 shares of Starbucks common stock, which includes 355 shares representing dividend equivalents on unvested time-based RSUs.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to an executive stock sale under a pre-arranged trading plan. It doesn't inherently indicate positive or negative sentiment.

Industry Context

Executive stock sales are a common occurrence and are often part of a pre-planned diversification strategy or to cover tax obligations related to equity compensation. The use of a 10b5-1 trading plan allows insiders to sell shares without being accused of trading on non-public information.

Stakeholder Impact

• The stock sale by a high-ranking executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates concerns about insider trading.

Key Dates