Coffee City
Melissa Allison follows the world's biggest coffee-shop chain and other Seattle caffeine purveyors.
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Howard Schultz sells $24.7 million in stock
Posted by Melissa Allison
Starbucks CEO Howard Schultz exercised 1.6 million stock options that were set to expire on Oct. 2 and sold the shares for a gain of $24.7 million, according to a filing with the Securities and Exchange Commission. He exercised the options at $10.09 each and sold them for nearly $26 a share.
Schultz continues to own 19.1 million shares, including 2.5 million that are in his wife's name and 2.5 million in a trust. Starbucks' proxy said he owned or had options on 31.3 million shares in early December. That included 8.5 million unexercised options and 3.4 million deferred stock units. After this week's transactions, Schultz owns or has options on 29.7 million shares.
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