Glass Lewis Recommends Shareholders Vote FOR ONLY each of the Starbucks Director Nominees
March 01 2024 - 10:15AM
Business Wire
Follows ISS’ recommendation that shareholders
vote on the WHITE proxy card “FOR” ONLY Starbucks 11 director
nominees
Starbucks Corporation (Nasdaq: SBUX) today announced that proxy
advisory firm Glass, Lewis & Co. (“Glass Lewis”) has
recommended that Starbucks shareholders vote on the WHITE proxy
card “FOR” ONLY each of the 11 Starbucks director nominees in
connection with the Company's Annual Meeting of Shareholders, which
will take place virtually on March 13, 2024, at 10 a.m. PT.
Starbucks partners (employees) have always been the heart of its
business and core to its success. The company is committed to
building a bridge to a better future for all partners. This
critical priority is led by the executive leadership team and
overseen by the Board of Directors’ Environmental, Partner and
Community Impact Committee. Throughout its history, the company has
offered its partners industry-leading compensation and benefits,
and over the past three years has invested nearly $9 billion to
augment the partner experience.
Starbucks is pleased that Glass Lewis recognizes the strength of
the Starbucks Board and supports the election of all its
directors.
In a report sent to clients on March 1, 2024, Glass Lewis
stated:
- “We believe Starbucks has been reasonably responsive to
stakeholder concerns in recent periods and has made positive
strides to improve its partner relations through various measures,
including meaningful wage increases for baristas to
industry-leading levels, improvements to work scheduling, and
technology advancements to improve the partner and customer
experience.”
- “Overall, we believe Starbucks has approached the issues raised
by the SOC, along with the broader employee satisfaction issue,
with a reasonable degree of humility and responsiveness, along with
a clear determination to improve.”
This report is consistent with Institutional Shareholder
Services ("ISS") positive recommendation on February 29, 2024, that
shareholders vote for each of the 11 Starbucks director
nominees.
Starbucks reminds shareholders that every vote is important and
encourages shareholders to review the Starbucks proxy solicitation
materials carefully and use the WHITE proxy card to vote today
“FOR” ONLY each of the 11 Starbucks director nominees. We strongly
urge you to disregard any materials sent to you by SOC, including
any blue proxy card, and NOT to vote using any blue proxy card.
Additional materials regarding Starbucks Annual Meeting of
Shareholders can be found at vote.Starbucks.com.
Please vote your shares by
Internet, telephone, or by mail TODAY by following the simple
instructions on the WHITE proxy card. If you have any questions
about how to vote your shares, please call the firm assisting us
with the solicitation of proxies: INNISFREE M&A
INCORPORATED Shareholders may call: 1(888) 750-5884
(toll-free from the U.S. and Canada), or +1(412) 232-3651
(from other countries) Remember, please do not vote using any blue proxy card you may receive
from SOC. Use the WHITE proxy card to vote today ONLY
for each of the 11 highly qualified Starbucks director
nominees.
Forward-Looking Statements
This communication contains forward-looking statements about
future events and circumstances. Generally speaking, any statement
not based upon historical fact is a forward-looking statement. In
particular, statements regarding Starbucks Corporation
(“Starbucks”) plans, strategies, prospects, and expectations
regarding its business and industry are forward-looking statements.
They reflect Starbucks expectations, are not guarantees of
performance, and speak only as of the date hereof. Except as
required by law, Starbucks does not undertake to update such
forward-looking statements. You should not rely unduly on
forward-looking statements. Starbucks business results are subject
to a variety of risks, including those that are described in its
Annual Report on Form 10-K for the fiscal year ended October 1,
2023 and subsequent filings with the U.S. Securities and Exchange
Commission (the “SEC”).
Important Shareholder Information
Starbucks filed a definitive proxy statement and a white proxy
card with the SEC in connection with its solicitation of proxies
for its 2024 Annual Meeting. STARBUCKS SHAREHOLDERS ARE STRONGLY
ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT, THE ACCOMPANYING
WHITE PROXY CARD, AND ANY AMENDMENTS AND SUPPLEMENTS TO THESE
DOCUMENTS, AS THEY CONTAIN IMPORTANT INFORMATION. Shareholders may
or will be able to obtain the proxy statement, any amendments or
supplements to the proxy statement, and other documents without
charge from the SEC’s website at www.sec.gov.
Participant Information
Starbucks, its directors, director nominees, certain of its
officers, and other employees are or will be “participants” (as
defined in Section 14(a) of the Exchange Act of 1934) in the
solicitation of proxies from Starbucks shareholders in connection
with the matters to be considered at the 2024 Annual Meeting. The
identity, their direct or indirect interests (by security holdings
or otherwise), and other information relating to the participants
is available in the Starbucks definitive proxy statement on
Schedule 14A filed with the SEC on January 25, 2024, on the section
entitled “Beneficial Ownership of Common Stock” (on page 103 and
available here) and Appendix B (on page B-1 and available here). To
the extent the holdings by the “participants” in the solicitation
reported in the Starbucks definitive proxy statement have changed,
such changes have been or will be reflected on “Statements of
Change in Ownership” on Forms 3, 4 or 5 filed with the SEC. All
these documents are or will be available free of charge at the
SEC’s website at www.sec.gov.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240301994361/en/
Starbucks Contact, Investor Relations: Tiffany Willis
investorrelations@starbucks.com
Starbucks Contact, Media: Emily Albright
press@starbucks.com
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From Apr 2024 to May 2024
Starbucks (NASDAQ:SBUX)
Historical Stock Chart
From May 2023 to May 2024