<SEC-DOCUMENT>0000902664-24-002175.txt : 20240304
<SEC-HEADER>0000902664-24-002175.hdr.sgml : 20240304
<ACCEPTANCE-DATETIME>20240304060111
ACCESSION NUMBER:		0000902664-24-002175
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240304
DATE AS OF CHANGE:		20240304

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			STARBUCKS CORP
		CENTRAL INDEX KEY:			0000829224
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING & DRINKING PLACES [5810]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				911325671
		STATE OF INCORPORATION:			WA
		FISCAL YEAR END:			0927

	FILING VALUES:
		FORM TYPE:		DFAN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20322
		FILM NUMBER:		24712721

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 34067
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98124-1067
		BUSINESS PHONE:		2064471575

	MAIL ADDRESS:	
		STREET 1:		2401 UTAH AVENUE SOUTH
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98134

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Strategic Organizing Center
		CENTRAL INDEX KEY:			0002001721
		ORGANIZATION NAME:           	
		IRS NUMBER:				203688367
		STATE OF INCORPORATION:			DC
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFAN14A

	BUSINESS ADDRESS:	
		STREET 1:		1900 L STREET, NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036
		BUSINESS PHONE:		(202) 721-0660

	MAIL ADDRESS:	
		STREET 1:		1900 L STREET, NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20036
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFAN14A
<SEQUENCE>1
<FILENAME>p24-1110dfan14a.htm
<DESCRIPTION>STARBUCKS CORPORATION
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black">SCHEDULE 14A</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black">Proxy Statement Pursuant
to Section 14(a)</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><FONT STYLE="color: Black">of the Securities
Exchange Act of 1934</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Filed
by the Registrant</FONT><FONT STYLE="font-family: Wingdings; color: Black">&nbsp;o</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; color: Black">Filed
by a Party other than the Registrant </FONT><FONT STYLE="font-family: Wingdings; color: Black">&#254;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">Check the appropriate
box:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; color: Black">&#168;</FONT></TD>
    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Preliminary
    Proxy Statement</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; color: Black">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Confidential,
    for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; color: Black">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Definitive
    Proxy Statement</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; color: Black">&#254;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Definitive
    Additional Materials</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; color: Black">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Soliciting
    Material Under Rule 14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Starbucks Corporation</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black">(Name of Registrant as
Specified in Its Charter)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in"><FONT STYLE="color: Black"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Strategic Organizing
Center</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Service Employees International
Union</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Mary Kay Henry</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Ahmer Qadeer</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Michael Zucker</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Maria Echaveste</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black"><B>Joshua Gotbaum</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt; text-align: center"><FONT STYLE="color: Black"><B>Wilma B. Liebman</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black">(Name of Person(s) Filing
Proxy Statement, if other than the Registrant)</FONT></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="color: Black">Payment of Filing Fee (Check all boxes that
apply):</FONT></P>

<P STYLE="font: 10pt/85% Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 12pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; font-size: 14pt; color: Black">&#254;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">No
    fee required.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; font-size: 14pt; color: Black">o</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Fee
    paid previously with preliminary materials.</FONT></TD></TR>
  <TR>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Wingdings; font-size: 14pt; color: Black">o</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black">Fee
    computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 40pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT STYLE="color: Black"><B>Strategic Organizing
Center Issues Statement on ISS Recommendation</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; background-color: #FEFEFE"><FONT STYLE="color: Black">February 29,
2024 07:45 PM Eastern Standard Time WASHINGTON--(BUSINESS WIRE)--The Strategic Organizing Center (the &ldquo;SOC&rdquo;), a shareholder
of Starbucks Corporation (Nasdaq: SBUX) (&ldquo;Starbucks&rdquo; or the &ldquo;Company&rdquo;), today commented on the recent report
published by Institutional Shareholder Services Inc. (&ldquo;ISS&rdquo;) in relation to Starbucks&rsquo; upcoming Annual Meeting of Shareholders
(the &ldquo;Annual Meeting&rdquo;). The Annual Meeting is scheduled for March 13, 2024.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; background-color: #FEFEFE"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">The
SOC stated:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">&ldquo;While
ISS acknowledged the validity of a number of our arguments in its report, we disagree with the view that board change is not currently
needed at Starbucks. As ISS points out, Starbucks &lsquo;mishandled&rsquo; its response to its employees&rsquo; campaign for unionization
and, as a result, has materially damaged the reputation the Company previously enjoyed as a progressive employer. ISS also concurs that
shareholders should be concerned by Starbucks&rsquo; share price performance since unionization efforts began. However, in our view,
ISS&rsquo; analysis of the link between this underperformance and the Company&rsquo;s reliance upon illegal tactics in its human capital
management strategy ignores what is plainly evident: Starbucks&rsquo; Board should be held accountable for endorsing a response to unionization
that destroyed shareholder value.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">Further,
we agree with ISS that the recent announcement of Starbucks and Workers United committing to a path forward is meaningful progress. That
said, the fact remains that the actions the Company has taken are reactive. For this reason, we feel it is still important to add independent
oversight to the Starbucks Board in order to ensure the Company follows through on its commitments. Our three exceptionally qualified
nominees &ndash; Maria Echaveste, Hon. Joshua Gotbaum and Hon. Wilma Liebman &ndash; bring diverse leadership experience from within
the business, government and non-profit sectors and can provide the perspectives and expertise Starbucks needs now.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">We
encourage shareholders to help send the message that it is time to Brew a Better Starbucks by voting for our director candidates today.
We look forward to continuing to engage with our fellow shareholders in advance of the Annual Meeting.&rdquo;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">In
its report, ISS noted the following:<SUP>1</SUP></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; color: Black">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I>&ldquo;Although
                                            SBUX has weathered controversies about unionization in the past, its image as an employer
                                            has faced&nbsp;<B>greater scrutiny than ever</B>&nbsp;since the unionization movement began.&rdquo;</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; color: Black">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I>&ldquo;By
                                            its own admission, the board was&nbsp;<B>caught off-guard and mishandled</B>&nbsp;the initial
                                            response. This translated into&nbsp;<B>negative media attention</B>, which led to SBUX being
                                            recast from a progressive employer into an&nbsp;<B>embodiment of the frustrations</B>&nbsp;faced
                                            by many retail workers.&rdquo;</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; color: Black">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I>&ldquo;&hellip;the
                                            initial response by SBUX to unionization efforts translated into&nbsp;<B>reputational damage</B>&hellip;&rdquo;</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; color: Black">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I>&ldquo;The
                                            key in this proxy contest is uncovering the role that unionization matters have played in
                                            the&nbsp;<B>divergence</B>&nbsp;[between long-term and short-term performance].&rdquo;</I></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>




<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; color: Black">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I>&ldquo;A
                                            business like SBUX cannot function without employees, so there is necessarily a&nbsp;<B>link
                                            between labor and performance</B>.&rdquo;</I></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 3.75pt; background-color: #FEFEFE; color: #444444"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 11pt; color: Black">&#183;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt; color: Black"><I>&ldquo;Perhaps
                                            most importantly, SBUX and Workers United recently committed to start discussions on a foundational
                                            framework designed to achieve collective bargaining agreements, and SBUX will provide union-represented
                                            partners with previously-announced benefits that they have not been able to take advantage
                                            of to date. This appears to be a&nbsp;<B>major step forward for all involved</B>.&rdquo;</I></FONT></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"></P>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt"></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 6pt"></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">Shareholders
can be part of ensuring Starbucks returns to the right path for the future by using the&nbsp;<B><U>BLUE</U>&nbsp;</B>proxy card &ndash;
to vote&nbsp;&ldquo;<B>FOR&rdquo;</B>&nbsp;each of the SOC Nominees today. Shareholders can also vote for the SOC Nominees on the Company&rsquo;s
White proxy card.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE"><FONT STYLE="color: Black">Visit&nbsp;www.BrewABetterStarbucks.com&nbsp;for
additional information about the SOC&rsquo;s campaign, including how to vote your shares TODAY.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; text-align: center; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">***</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black"><B>DISCLAIMER</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">This
material does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in any state
to any person. In addition, the discussions and opinions in this press release and the material contained herein are for general information
only, and are not intended to provide investment advice. All statements contained in this press release that are not clearly historical
in nature or that necessarily depend on future events are &ldquo;forward-looking statements,&rdquo; which are not guarantees of future
performance or results, and the words &ldquo;will,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo; &ldquo;expect,&rdquo; &ldquo;potential,&rdquo;
&ldquo;could,&rdquo; &ldquo;opportunity,&rdquo; &ldquo;estimate,&rdquo; and similar expressions are generally intended to identify forward-looking
statements. Any projected results and/or statements contained in this press release that are not historical facts are based on current
expectations, speak only as of the date of this press release and involve risks that may cause the actual results to be materially different.
Certain information included in this press release is based on data obtained from sources considered to be reliable. No representation
is made with respect to the accuracy or completeness of such data, and any analyses provided to assist the recipient of this press release
in evaluating the matters described herein may be based on subjective assessments and assumptions and may use one among alternative methodologies
that produce different results. Accordingly, any analyses should also not be viewed as factual and also should not be relied upon as
an accurate prediction of future results. Any figures are unaudited estimates and subject to revision without notice. The SOC disclaims
any obligation to update the information herein and reserve the right to change any of their opinions expressed herein at any time as
they deem appropriate. Past performance is not indicative of future results.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black"><B>IMPORTANT
INFORMATION</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">The
SOC, the SEIU, Mary Kay Henry, Ahmer Qadeer, Michael Zucker, Maria Echaveste, Joshua Gotbaum, and Wilma B. Liebman (collectively, the
&ldquo;Participants&rdquo;) filed a definitive proxy statement and accompanying proxy card (the &ldquo;Proxy Statement&rdquo;) with the
SEC on January 25, 2024 to be used to solicit proxies in connection with the 2024 annual meeting of shareholders (the &ldquo;Annual Meeting&rdquo;)
of Starbucks Corporation (the &ldquo;Company&rdquo;). All shareholders of the Company are advised to read the Proxy Statement and other
documents related to the solicitation of proxies, each in connection with the Annual Meeting, by the Participants, as they contain important
information, including additional information related to the Participants, including a description of their direct or indirect interests
by security holdings or otherwise. The Proxy Statement and an accompanying BLUE proxy card will be furnished to some or all of the Company&rsquo;s
stockholders and is, along with other relevant documents, available at no charge on the SEC website at&nbsp;<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">http://www.sec.gov.</FONT></FONT></P>




<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">________________________<BR>
<SUP>1</SUP>&nbsp;Permission to quote ISS neither sought nor obtained<FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">.
Emphasis added.</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE; color: rgb(68,68,68)"><FONT STYLE="color: Black">Contacts</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE"><FONT STYLE="color: Black"><B>Investor
Contact</B><BR>
Okapi Partners<BR>
Bruce Goldfarb / Pat McHugh, (877) 285-5990<BR>
info@okapipartners.com</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0.25in; background-color: #FEFEFE"><FONT STYLE="color: Black"><B>Media
Contacts</B><BR>
Longacre Square Partners<BR>
soc-sbux@longacresquare.com</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="color: Black">&nbsp;</FONT></P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
