Starbucks CEO gets 24 percent boost in 2014 pay package

AP News
|
Posted: Jan 23, 2015 8:12 PM

Starbucks Corp. CEO Howard Schultz received a 24 percent increase in his compensation package for 2014.

A regulatory filing Friday with the Securities and Exchange Commission shows that Schultz's base salary stayed steady at $1.5 million for the company's fiscal year that ended in September. But the value of his stock awards increased 5 percent to nearly $6.3 million and a cash payment based on performance increased 30 percent to $2.9 million.

There was also a bump in pay for perks — which included home security services and retirement plan contributions — to $502,076 from $215,933.

The Seattle-based coffee giant gave the pay increase to the CEO as the company's sales improved for the year. Starbucks' total revenue increased 11 percent to $16.45 billion in its fiscal year 2014 and its adjusted net income per share rose 21 percent to $2.66.

Recommended
Fear and Loathing of Jordan Peterson
Suzanne Fields

Schultz is the chairman, president and CEO of Starbucks. He has served as chairman since 2000 and resumed the role of president and chief executive officer in January 2008 after a brief hiatus.

The Associated Press calculates an executive's total compensation by counting salary, bonuses, perks, stock and options awarded during the year.