Coffee City
Melissa Allison tracks Seattle's — and the world's — caffeine addiction.
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It's bonus time at Starbucks; top executives receive stock units worth millions
Posted by Melissa Allison
Several top executives received restricted stock units this week. They were technically granted a year ago (contingent on performance), but not "earned" until now, and they vest over the next two years. It's a long process, but they're more valuable than stock options.
Starbucks began granting performance RSUs this past fiscal year. It doesn't disclose the parameters for each executive's RSUs, but says they're based on Starbucks' profit.
CEO Howard Schultz did not participate in the RSU plan. His entire "incentive grant" was in stock options, which is tied to Starbucks' stock price -- which rose 40 percent during the '09 fiscal year. Stay tuned for the proxy, which will show all compensation for the top five executives including Schultz.
Following are RSUs earned. If they were cashed in today -- which is not possible -- each unit would be worth $21.68 (Starbucks' share price today). As an example, Burrows and Rubinfeld each would have RSUs worth $1.3 million. If the stock price continues to increase, so does their value.
Cliff Burrows, president of Starbucks Coffee U.S.: 59,722
Arthur Rubinfeld, president of Global Development: 59,722
Martin Coles, president Starbucks Coffee International: 52,257
Paula Boggs, exec. VP, general counsel and secretary: 44,791
Troy Alstead, exec. VP, chief financial officer and chief admin. offcr.: 29,861
John Culver, president of Global Consumer Products: 29,861
Peter Gibbons, exec. VP of Global Supply Chain Operations: 22,396
Michelle Gass, president of Seattle's Best Coffee: 17,170
Feb 9, 10 - 3:40 PM
Brady Campaign circulates petition to keep guns out of Starbucks
Feb 8, 10 - 1:27 PM
Starbucks adopting pour-over brewing method, StarbucksMelody.com reports
Feb 8, 10 - 12:59 PM
Starbucks' new heart cup reminds customers of its partnership with (Red) to fight HIV/AIDS in Africa
Feb 5, 10 - 6:21 PM
Coffee wrap-up for the weekend
Feb 4, 10 - 1:39 PM
Starbucks shareholders to vote on recycling proposal


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