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      "text": "Compensation adjustments for relative shareholder return are based on S&P 500, which contains dissimilar \"peers\"",
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      "text": "\"This threshold amount is based on achievement of pre-approved, annualized adjusted EPS targets and is subject to an adjustment, based on a three-year relative TSR against the S&P 500, of upward or downward of up to 25%, and a three-year representation modifier, of upward or downward of up to 10%.\"",
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      "text": "*Source: Starbucks' Definitive Proxy Statement (Jan. 25, 2024)\n**Source: Bloomberg, measured from Sept. 25, 2020 to Oct. 1, 2023)",
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      "text": "Index\nS&P 500\nS&P 500 Consumer Discretionary\nS&P 500 Restaurant\nCorrelation with Starbucks**\n0.408\n0.433\n0.595",
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      "text": "Management's compensation rises up to 25% if it does nothing and Apple, Microsoft, and Amazon (amongst others in the S&P 500) have bad years",
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