Leading Proxy Advisor ISS Recommends Shareholders Vote FOR ONLY the Starbucks Director Nominees
29 Février 2024 - 11:21PM
Business Wire
Starbucks Corporation (Nasdaq: SBUX) today announced that
leading proxy advisory firm Institutional Shareholder Services
("ISS") has recommended that Starbucks shareholders vote on the
WHITE proxy card ONLY “FOR” the Starbucks 11 director nominees in
connection with the Company's Annual Meeting of Shareholders, which
will take place virtually on March 13, 2024, at 10 a.m. PT.
Starbucks partners (employees) have always been the heart of its
business and core to its success. The company is committed to
building a bridge to a better future for all partners. This
critical priority is led by the executive leadership team and
overseen by the Board of Directors’ Environmental, Partner and
Community Impact Committee. Throughout its history, the company has
offered its partners industry-leading compensation and benefits,
and over the past three years has invested nearly $9 billion to
augment the partner experience.
Starbucks is pleased that ISS recognizes the strength of the
Starbucks Board and supports the election of all its directors.
In a report sent to clients on February 29, 2024, ISS
stated:
- “SBUX has a history of demonstrating responsiveness to
shareholders, and has continued to do so despite recent headwinds.
All-in, there is no reason to believe that the board is unwilling
or unable to approach matters, including unionization, so as to
support the best interests of shareholders.”
- “The Board has undergone significant refreshment since the CEO
transition, as five of the 10 independent directors on ballot were
first seated after [Laxman] Narasimhan took the helm on a permanent
basis. These directors appear to be thoughtful and logical
additions (rather than defensive ones) and are positioned to assist
the new CEO with the most important elements of the reinvention
plan.”
Starbucks reminds shareholders that every vote is important and
encourages shareholders to review the Starbucks proxy solicitation
materials carefully and use the WHITE proxy card to vote today ONLY
“FOR” each of the 11 Starbucks nominees. The company urges
shareholders to disregard any materials sent to you by SOC,
including any blue proxy card, and NOT to vote using any blue proxy
card.
Additional materials regarding the Starbucks Annual Meeting of
Shareholders can be found at vote.Starbucks.com.
Paul, Weiss, Rifkind, Wharton & Garrison LLP is acting as
Starbucks legal advisor. Centerview Partners is acting as Starbucks
financial advisor.
Please vote your shares by
Internet, telephone, or by mail TODAY by following the simple
instructions on the WHITE proxy card. If you received this
letter by email, you may simply click the WHITE “VOTE NOW”
button in the email.
If you have any questions about
how to vote your shares, please call the firm assisting us with the
solicitation of proxies:
INNISFREE M&A
INCORPORATED
Shareholders may call:
1(888) 750-5884 (toll-free
from the U.S. and Canada), or
+1(412) 232-3651 (from other
countries)
Remember, please do not vote using any blue proxy card you may receive
from SOC. Use the WHITE proxy card to vote today ONLY
for each of the 11 highly qualified Starbucks director
nominees.
Forward-Looking Statements
This communication contains forward-looking statements about
future events and circumstances. Generally speaking, any statement
not based upon historical fact is a forward-looking statement. In
particular, statements regarding Starbucks Corporation
(“Starbucks”) plans, strategies, prospects, and expectations
regarding its business and industry are forward-looking statements.
They reflect Starbucks expectations, are not guarantees of
performance, and speak only as of the date hereof. Except as
required by law, Starbucks does not undertake to update such
forward-looking statements. You should not rely unduly on
forward-looking statements. Starbucks business results are subject
to a variety of risks, including those that are described in its
Annual Report on Form 10-K for the fiscal year ended October 1,
2023 and subsequent filings with the U.S. Securities and Exchange
Commission (the “SEC”).
Important Shareholder Information
Starbucks filed a definitive proxy statement and a white proxy
card with the SEC in connection with its solicitation of proxies
for its 2024 Annual Meeting. STARBUCKS SHAREHOLDERS ARE STRONGLY
ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING
WHITE PROXY CARD, AND ANY AMENDMENTS AND SUPPLEMENTS TO THESE
DOCUMENTS, AS THEY CONTAIN IMPORTANT INFORMATION. Shareholders may
or will be able to obtain the proxy statement, any amendments or
supplements to the proxy statement, and other documents without
charge from the SEC’s website at www.sec.gov.
Participant Information
Starbucks, its directors, director nominees, certain of its
officers, and other employees are or will be “participants” (as
defined in Section 14(a) of the Exchange Act of 1934) in the
solicitation of proxies from Starbucks shareholders in connection
with the matters to be considered at the 2024 Annual Meeting. The
identity, their direct or indirect interests (by security holdings
or otherwise), and other information relating to the participants
is available in the Starbucks definitive proxy statement on
Schedule 14A filed with the SEC on January 25, 2024, on the section
entitled “Beneficial Ownership of Common Stock” (on page 103 and
available here) and Appendix B (on page B-1 and available here). To
the extent the holdings by the “participants” in the solicitation
reported in the Starbucks definitive proxy statement have changed,
such changes have been or will be reflected on “Statements of
Change in Ownership” on Forms 3, 4 or 5 filed with the SEC. All
these documents are or will be available free of charge at the
SEC’s website at www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240229623515/en/
Starbucks Contact, Investor Relations: Tiffany Willis
investorrelations@starbucks.com
Starbucks Contact, Media: Emily Albright
press@starbucks.com
Starbucks (NASDAQ:SBUX)
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