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  "documentTitle": "Strategic Organizing Center | Activist Presentation Deck | 65 slides",
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  "authorName": "Strategic Organizing Center",
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  "presentationDate": "2024-02-01 00:00:00",
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      "kind": "callout",
      "text": "We believe that this lack of transparency regarding the Company's anti-union legal impacts could have a more significant impact on compensation going forward",
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      "text": "If elected, our nominees will recommend a fresh evaluation of compensation disclosure\nStarbucks uses adjusted financial metrics in its executive pay plans (Net Revenue and Operating income in Annual Cash Incentive plan and EPS in Long Term Incentive Plan)\nUsing GAAP measures reduces 2023 cash bonuses paid to all NEOs by 8%. One of the adjustments made this year, but not in at least the two prior years, is for Legal Accruals and Reserves made to Operating Income and EPS, which amounted to $15 million\nRemoving only this adjustment (which seems plausibly related to the anti-union campaign) reduces the annual cash bonuses paid to all NEOs by 7.4%",
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      "kind": "source-note",
      "text": "Source: SBUX Definitive Proxy Statement, AmerisourceBergen and Cardinal Health SEC filings",
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      "text": "Company, Opioid Litigation Price Tag, Voter Opposition to Executive Pay, CEO Pay Cut / Total Compensation\nAmerisourceBergen, $6.6 billion (2021), 48.4% (2021), Collis $1.8 million / $15 million (2022)\nCardinal Health, $5.6 billion (2020), 38.6% (2020), Kaufmann $1.4 million / $12 million (2021)\nJohnson&Johnson, $5.1 (2020), 43.3% (2021), Gorsky $0 / $26 million (2022)\nMCKESSON, $8.1 billion (2021), First mover on CEO pay cut, Tyler $3 million / $15 million (2021)",
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      "kind": "title",
      "text": "The lack of transparency on the impact of legal costs related to Starbucks' anti-union activities appears to be artificially inflating the Company's annual cash bonus",
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      "kind": "title",
      "text": "Undisclosed Legal Expenses Appear to Boost NEO Compensation",
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