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      "text": "Chart from Starbucks' 2024 Proxy Statement",
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      "text": "Starbucks Underperforms the S&P 500, the Index that is Actually Relevant to Executive Compensation",
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      "text": "BREW A BETTER STARBUCKS",
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      "text": "PEO Compensation (Kevin Johnson)\nPEO Compensation (Laxman Narasimhan)\nSBUX TSR\nPEO Compensation (Howard Schultz)\nNon-PEO Compensation\nPeer TSR",
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      "text": "PEO Compensation (Kevin Johnson)\nPEO Compensation (Laxman Narasimhan)\nSBUX TSR\nPEO Compensation (Howard Schultz)\nNon-PEO Compensation\nPeer TSR (S&P 500)",
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      "text": "\"...the Company's peer group cumulative total shareholder return (the \"Peer Group TSR\") is determined based on the value of an initial fixed investment of $100 on September 25, 2020, through the end of the listed fiscal year. The Peer Group TSR set forth in this table was determined using S&P 500 Consumer Discretionary...\"",
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      "text": "Starbucks does not disclose why it uses S&P 500 Consumer Discretionary to show \"compensation actually paid” instead of the S&P 500 Index on which it bases compensation adjustments or the peer group used to set the total compensation level. We note, however, that this approach makes Starbucks shares appear as if they are outperforming, when in fact they are underperforming",
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      "text": "Starbucks chose a third peer group to comply with new disclosure requirements but avoided revealing relative underperformance",
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      "text": "Questionable Executive Compensation Structure (cont.)",
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