On March 4, 2025, Starbucks said it appointed Cathy R. Smith as executive vice president and chief financial officer, and designated her as principal financial officer and principal accounting officer. The effective date has yet to be determined.

1. 01

   On March 4, 2025, Starbucks said it appointed Cathy R. Smith as executive vice president and chief financial officer, and designated her as principal financial officer and principal accounting officer. The effective date has yet to be determined.

2. 02

   The company said Ms. Smith will receive an initial base salary of $925,000 per year and an annual cash incentive with a target of 125% of base salary. It also said she will receive a cash signing bonus of $5,000,000 to offset the $15 million in cash incentive and equity awards she is forfeiting at her prior employer.

3. 03

   Starbucks said it will grant Ms. Smith a Replacement Grant with a target value of $6,400,000 and a 2025 Annual Grant with a target value of $4,500,000. The company said each grant will consist of 60% performance-based restricted stock units and 40% time-based restricted stock units.

4. 04

   Starbucks said on March 4, 2025 that Rachel Ruggeri will no longer serve as executive vice president and chief financial officer, and that the effective date has yet to be determined. The company said her separation meets the "without cause" conditions of its Executive Severance and Change in Control Plan.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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