Starbucks Updates CEO Niccol’s Equity Grant Terms

Starbucks ( (SBUX) ) has issued an update.

Starbucks has revised CEO Brian Niccol’s offer letter to clarify the terms around his performance-based equity grants, ensuring they align with the company’s practices. The amendments specify that his equity grants will have a target value between $75 million and $80 million, based on the closing stock price on the grant date. Additionally, Niccol will be eligible for an annual grant in 2025 with a target value of $23 million, subject to performance adjustments.

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