Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported): March 23, 2011

 

 

STARBUCKS CORPORATION

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Washington   0-20322   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)

(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))

 

 

 

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

At the Annual Meeting of Shareholders of Starbucks Corporation (the “Company”) held on March 23, 2011 (the “2011 Annual Meeting”), the Company’s shareholders approved an amendment and restatement of the Starbucks Corporation 2005 Long-Term Equity Incentive Plan (the “Plan”). The Board of Directors of the Company (the “Board of Directors”) had previously adopted and approved the amended and restated Plan on December 16, 2010, subject to shareholder approval.

The amendments to the Plan include: (1) increasing the shares authorized for issuance under the Plan by 15,000,000 shares, (2) establishing a maximum term of 10 years for nonqualified stock options, (3) requiring future awards of restricted stock and restricted stock units to satisfy minimum vesting conditions, (4) extending the term of the Plan by 10 years, (5) revising the performance criteria for performance-based awards and (6) making certain other administrative changes. The foregoing summary of the Plan amendments is qualified in its entirety by reference to Appendix A to the Company’s definitive proxy statement filed with the Securities and Exchange Commission on January 28, 2011 (the “Proxy Statement”).

Item 5.07 Submission of Matters to a Vote of Security Holders.

At the 2011 Annual Meeting, the Company’s shareholders voted on (1) the election of 10 directors nominated by the Board of Directors to serve until the 2012 Annual Meeting of Shareholders and until their successors are elected and qualified, (2) an advisory resolution on executive compensation, (3) an advisory vote on the frequency of future advisory votes on executive compensation, (4) revised performance criteria under the Plan, (5) an amendment and restatement of the Plan, including an increase in the number of authorized shares under the Plan, (6) the ratification of the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending October 2, 2011 and (7) a shareholder proposal regarding a recycling strategy for beverage containers.

The table below sets forth the number of votes cast for and against (or, with respect to the advisory vote on the frequency of future advisory votes on executive compensation, the number of votes cast for one year, two years and three years), and the number of abstentions and broker non-votes, for each matter voted upon by the Company’s shareholders.

 

     Votes
For		      Votes
Against		      Abstentions      Broker
Non-Votes		  

Proposal 1: Election of Directors

            

Howard Schultz

      526,794,946         16,915,714         530,354         111,207,037   

William W. Bradley

      540,109,843         3,629,747         501,424         111,207,037   

Mellody Hobson

      540,027,444         3,687,987         525,583         111,207,037   

Kevin R. Johnson

      535,969,588         7,696,827         574,599         111,207,037   

Olden Lee

      513,942,757         29,367,510         930,747         111,207,037   

Sheryl Sandberg

      539,116,827         4,596,817         527,370         111,207,037   

James G. Shennan, Jr.

      530,694,712         12,954,466         591,836         111,207,037   

Javier G. Teruel

      531,885,087         11,790,450         565,477         111,207,037   

Myron E. Ullman, III

      531,887,160         11,751,245         602,609         111,207,037   

Craig E. Weatherup

      535,932,748         7,758,938         549,328         111,207,037   

     Votes
For		      Votes
Against		      Abstentions      Broker
Non-Votes		  

Proposal 2: Advisory resolution on executive compensation

      532,393,404         10,734,225         1,113,385         111,207,037   

 

     One
Year		      Two
Years		      Three
Years		      Abstentions      Broker
Non-Votes		  

Proposal 3: Advisory vote on the frequency of future advisory votes on executive compensation

      468,895,532         1,616,408         72,956,909         772,165         111,207,037   

Based on the Board of Directors’ recommendation in the Proxy Statement and the voting results with respect to the advisory vote on the frequency of future advisory votes on executive compensation, the Company has adopted a policy to hold an advisory vote on executive compensation annually.

 

     Votes
For		      Votes
Against		      Abstentions      Broker
Non-Votes		  

Proposal 4: Revised performance criteria under the 2005 Long-Term Equity Incentive Plan

      525,380,021         17,817,553         1,043,440         111,207,037   
     Votes
For		      Votes
Against		      Abstentions      Broker
Non-Votes		  

Proposal 5: Amendment and restatement of the 2005 Long-Term Equity Incentive Plan

      468,941,241         74,318,362         981,411         111,207,037   
     Votes
For		      Votes
Against		      Abstentions      Broker
Non-Votes		  

Proposal 6: Ratification of independent registered public accounting firm

      647,237,646         7,096,040         1,114,365         0   
     Votes
For		      Votes
Against		      Abstentions      Broker
Non-Votes		  

Proposal 7: Shareholder proposal regarding recycling strategy for beverage containers

      35,903,461         407,720,919         100,616,634         111,207,037   

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: March 28, 2011      
    By:  

/s/ Troy Alstead

      Troy Alstead
      chief financial officer and chief administrative officer