On November 19, 2024, Starbucks announced amendments to CEO Brian Niccol's offer letter, initially dated August 11, 2024. The amendments aim to align Niccol's performance-based equity grants with the company's grant practices, focusing on target value rather than grant date fair value.The board approved a Replacement Grant for Niccol, with a target value between $75M and $80M, calculated using the closing stock price on the grant date. Additionally, Niccol is eligible for a 2025 annual grant with a target value of $23M, subject to performance-based adjustments by the board.These changes ensure clarity in Niccol's compensation structure, reflecting Starbucks' commitment to aligning executive incentives with company performance.

On November 19, 2024, Starbucks announced amendments to CEO Brian Niccol's offer letter, initially dated August 11, 2024. The amendments aim to align Niccol's performance-based equity grants with the company's grant practices, focusing on target value rather than grant date fair value.The board approved a Replacement Grant for Niccol, with a target value between $75M and $80M, calculated using the closing stock price on the grant date. Additionally, Niccol is eligible for a 2025 annual grant with a target value of $23M, subject to performance-based adjustments by the board.These changes ensure clarity in Niccol's compensation structure, reflecting Starbucks' commitment to aligning executive incentives with company performance.