Starbucks Corp

1. 1

   Election of Directors

   ManagementBoard: FOR

   Elect the 11 directors named in the proxy statement to serve until the 2027 annual meeting.

2. 2

   Advisory Vote to Approve Named Executive Officer Compensation (Say-on-Pay

   ManagementBoard: FOR

   Nonbinding, advisory vote to approve the compensation paid to named executive officers as disclosed in the proxy statement.

   More detail

   This management proposal asks shareholders to cast a nonbinding advisory vote approving the company’s executive compensation package as disclosed in the proxy materials. Management seeks this vote to reaffirm alignment between pay and performance and to obtain shareholder feedback on compensation practices; the board and Compensation Committee state that results will be considered in future compensation decisions. The proposal is routine for public companies and is intended to provide transparency and investor input on pay-for-performance alignment. The Board recommends a vote FOR, citing pay-for-performance philosophy, significant at-risk compensation tied to financial and strategic goals including the “Back to Starbucks” plan, and governance features such as stock ownership guidelines, clawbacks, and independent consultant review. The vote is advisory only and will not be binding on the board, but a substantial negative vote could prompt compensation plan changes or further engagement. The proxy includes detailed rationale, payout outcomes, and recent changes to incentive structures (including PRSUs and the “Back to Starbucks” PRSU) to demonstrate alignment with long-term objectives and retention needs for key executives.

3. 3

   Ratification of Selection of Deloitte & Touche LLP as Independent Registered Public Accounting Firm

   ManagementBoard: FOR

   Ratify the Audit Committee’s selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2026.

4. 4

   Shareholder Proposal Requesting Supermajority Shareholder Voting Requirements be Replaced with Majority Voting Requirements

   Shareholder — The Accountability Board

   Request the board take steps to replace any voting requirement that calls for greater-than-majority vote with a requirement for a majority of votes entitled to be cast.

   More detail

   This shareholder proposal asks the board to amend the company’s governance to replace any supermajority voting thresholds with simple majority voting. The proponent argues supermajority requirements (notably the two-thirds threshold under Washington law for mergers, share exchanges, asset sales, and voluntary dissolution) unfairly insulate management and limit shareholders’ ability to approve significant corporate actions. The proponent cites proxy advisor and large investor preferences for majority voting and notes other large companies that no longer have supermajority provisions. The board provided no recommendation, observing that most of its shareholder voting thresholds already adhere to majority standards and that the remaining supermajority requirements are statutory defaults under Washington law tied to high-stakes corporate actions; the board is skeptical an amendment to the articles would attract the necessary two-thirds shareholder approval absent a compelling reason, while committing to consider shareholder feedback.

5. 5

   Shareholder Proposal Requesting Adoption of an Independent Board Chair Policy

   Shareholder — National Legal and Policy Center (NLPCBoard: AGAINST

   Request the board adopt a policy requiring separation of the roles of chairman and CEO and that the chairman be an independent director, with limited exceptions.

   More detail

   This shareholder proposal seeks a formal policy requiring the separation of the CEO and board chair roles and that the chair be independent, arguing combined roles weaken oversight and entrench management. The proponent cites governance research and proxy advisory guidance favoring independent chairs. Management opposes the proposal, arguing that a one-size-fits-all mandate would remove necessary board flexibility, that the board’s current framework — including a strong lead independent director, independent committees, and annual leadership review — provides effective oversight, and that historical practice demonstrates the board can and will change structure if warranted. The board believes the proposal is unnecessary and could constrain its ability to act in shareholders’ best interests.

6. 6

   Shareholder Proposal Requesting a Report on the Company’s Apparent Exclusion of Detransitioning in its Healthcare Coverage

   Shareholder — The Free Enterprise Project of the National Center for Public Policy ResearchBoard: AGAINST

   Request a report assessing financial risks associated with the company’s apparent exclusion of detransitioning in its healthcare coverage.

7. 7

   Shareholder Proposal Requesting a Report on Median Compensation and Benefits Gaps as they Address Reproductive and Gender Dysphoria Care

   Shareholder — Bowyer Research on behalf of TSETBoard: AGAINST

   Request the board produce a report on median compensation and benefits gaps across gender addressing reproductive and gender dysphoria care and associated risks to recruiting, reputation, operations, and litigation.

   More detail

   The proposal asks for an analysis of median compensation and benefits gaps across gender with focus on reproductive and gender dysphoria care and related risks. Proponent cites reputational and legal risks and requests disclosure. Management opposes, noting existing pay equity processes, complexity of benefits design, and overlapping proposals addressing similar concerns; board believes the report would not provide meaningful additional value.

8. 8

   Shareholder Proposal Requesting a Report on the Company’s Use of Diagnostic Tools Created by Politicized Corporate Partners

   Shareholder — The Heritage FoundationBoard: AGAINST

   Request a report analyzing benefits, costs, and legal, reputational, competitive, and other risks of Starbucks’ use of diagnostic tools created by politicized corporate partners (e.g., SPLC) for vetting charities in its Giving Match program.

   More detail

   The proposal requests an evaluation of risks arising from Starbucks’ use of diagnostic tools by third-party organizations considered politicized (e.g., SPLC) for vetting charities in its Giving Match program. The proponent contends use of such tools exposes Starbucks to reputational and legal risks; management opposes citing complexity of charitable giving and impracticality of vague terms.

9. 9

   Shareholder Proposal Requesting a Report on the Risks of the Company Excluding Religious Charities from its Employee-Gift Match Program

   Shareholder — IWP Capital, LLC on behalf of The Baptist Foundation of CaliforniaBoard: AGAINST

   Request a report evaluating reputational, human capital, operational, legal, and other risks of excluding religious charities from the employee gift-match program.

   More detail

   The proposal requests an evaluation of risks from excluding religious charities from the Give Match program; proponent argues exclusions harm employees and engagement; management opposes noting program already matches many religious organizations and partners can nominate additional organizations; board believes report unnecessary.

Upcoming shareholder meetings at Starbucks Corp’s closest sector peers — compare boards, ballots, and ownership across the cohort.

When is the Starbucks Corp 2026 annual meeting?

Starbucks Corp (SBUX) holds its 2026 annual shareholder meeting on Wednesday, March 25, 2026.

What is the record date for the Starbucks Corp 2026 meeting?

The record date for the Starbucks Corp 2026 meeting is Friday, January 16, 2026. Shareholders of record on or before that date are eligible to vote.

Who are the director nominees for Starbucks Corp's 2026 meeting?

The board is presenting 11 director nominees at the Starbucks Corp 2026 meeting, listed with their independence status and background.

What proposals will shareholders vote on at the Starbucks Corp 2026 meeting?

Shareholders will vote on 9 proposals at the Starbucks Corp 2026 meeting, each tagged with who proposed it and the board's recommendation.