Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 30, 2024

Starbucks Corporation

(Exact name of registrant as specified in its charter)


Washington	000-20322	91-1325671
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2401 Utah Avenue South, Seattle, Washington 98134

(Address of principal executive offices) (Zip Code)

(206) 447-1575

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐						Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐						Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐						Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐						Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title	Trading Symbol	Name of each exchange on which registered
Common Stock, par value $0.001 per share	SBUX	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Selection 13(a) of the Exchange Act. o

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 30, 2024, Satya Nadella informed Starbucks Corporation that he is resigning from the Board of Directors (the “Board”) effective immediately. Effective May 30, 2024, the size of the Board was reduced by one.

A copy of the Mr. Nadella’s resignation letter is attached as Exhibit 99.1.

Item 9.01Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.						Description
99.1						Resignation Letter from Satya Nadella dated May 30, 2024
104						Cover Page Interactive Data File (formatted as inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STARBUCKS CORPORATION

Dated:

May 31, 2024

By:

/s/ Bradley E. Lerman

Bradley E. Lerman

executive vice president, chief legal officer

Exhibit 99.1

Dear Mellody and Jørgen,

I write to you today with a heart full of mixed emotions as I announce my retirement from the Starbucks Board of Directors effective immediately. It has been a profound privilege and an honor to serve this extraordinary company alongside such dedicated colleagues on the board for the past 7 years!

Throughout my tenure, I have witnessed the remarkable evolution of Starbucks, and I carry with me the pride of our collective achievements. As I step down, I want to express my deepest gratitude for the opportunity to contribute and learn from all the ways Starbucks has grown, changed and continued to thrive.

While I may be retiring from my role on the board, my belief in Starbucks’ mission and my support for our partners remain steadfast. I will continue to be one of the company’s biggest fans, cheering on from the sidelines as you propel Starbucks to even greater heights.

I have the utmost confidence in Laxman and our senior leadership team. Their unwavering commitment and strategic acumen assure me that Starbucks is in capable hands, poised for a future filled with innovation and success.

Thank you once again for the privilege of serving with you. I look forward to watching Starbucks flourish and am excited for the new chapters that await us all.

Warm regards,

Satya

Document and Entity Information	May 30, 2024
Document And Entity Information [Abstract]
Document Type	8-K
Document Period End Date	May 30, 2024
Entity Registrant Name	Starbucks Corporation
Entity Address, Address Line One	2401 Utah Avenue South
Entity Address, City or Town	Seattle
Entity Address, State or Province	WA
Entity Address, Postal Zip Code	98134
City Area Code	206
Local Phone Number	447-1575
Entity Incorporation, State or Country Code	WA
Entity File Number	000-20322
Entity Tax Identification Number	91-1325671
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	SBUX
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000829224