<SEC-DOCUMENT>0000902664-24-002197.txt : 20240305
<SEC-HEADER>0000902664-24-002197.hdr.sgml : 20240305
<ACCEPTANCE-DATETIME>20240305102822
ACCESSION NUMBER:		0000902664-24-002197
CONFORMED SUBMISSION TYPE:	DFAN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240305
DATE AS OF CHANGE:		20240305

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:		24718664

	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>
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<TYPE>DFAN14A
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<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">SCHEDULE 14A</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">Proxy Statement Pursuant to Section 14(a)</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">of the Securities Exchange Act of 1934</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by the Registrant </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by a Party other than the Registrant </FONT><FONT STYLE="font-family: Wingdings">&#254;</FONT></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">Check the appropriate box:</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 93%; padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Preliminary Proxy Statement</FONT></TD></TR>
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    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">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; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Definitive Proxy Statement</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#254;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Definitive Additional Materials</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Wingdings; font-size: 12pt; line-height: 107%">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; line-height: 107%">Soliciting Material Under Rule 14a-12</FONT></TD></TR>
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<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 22pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Starbucks Corporation</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Registrant as Specified in Its Charter)</P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Strategic Organizing Center</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Service Employees International Union</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Mary Kay Henry</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Ahmer Qadeer</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Michael Zucker</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Maria Echaveste</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Joshua Gotbaum</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Wilma B. Liebman</B></P>

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

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0; text-align: center">(Name of Person(s) Filing Proxy Statement, if
other than the Registrant)</P>


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<P STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt/85% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">&nbsp;</P>

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    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Wingdings; font-size: 14pt; line-height: 85%">&#254;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 85%">No fee required.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Wingdings; font-size: 14pt; line-height: 85%">&#168;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 85%">Fee paid previously with preliminary materials.</FONT></TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Wingdings; font-size: 14pt; line-height: 85%">&#168;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-bottom: 8pt; padding-left: 5.4pt; line-height: 85%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; line-height: 85%">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11.</FONT></TD></TR>
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    <TD STYLE="width: 7%">&nbsp;</TD>
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    <TD STYLE="width: 92%">&nbsp;</TD></TR>
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<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><B>Strategic Organizing Center Issues Statement
on Starbucks</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><I>Believes agreement on path forward reached
by Starbucks and Workers United represents meaningful progress that will benefit all stakeholders </I></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: center"><I>Withdrawing director nominees to allow the
Company to focus on upholding its new commitments to workers and enhancing value for shareholders </I></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; background-color: #FEFEFE">WASHINGTON &ndash;
March 5, 2024 &ndash; The Strategic Organizing Center (the &ldquo;SOC&rdquo;), a shareholder of Starbucks Corporation (Nasdaq: SBUX) (&ldquo;Starbucks&rdquo;
or the &ldquo;Company&rdquo;), today issued the following statement:</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; background-color: #FEFEFE">The SOC launched
our campaign for change at Starbucks this past November because we believed the Company&rsquo;s response to its employees&rsquo; attempts
to unionize was misguided. In our view, Starbucks&rsquo; strategy &ndash; overseen by the Board of Directors (the &ldquo;Board&rdquo;)
&ndash; had materially damaged the value of the Company&rsquo;s brand and negatively impacted its shareholders, partners and customers.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; background-color: #FEFEFE">Last Tuesday, Starbucks
and Workers United announced that the two sides had agreed to work together on a path forward to reach collective bargaining agreements
for represented stores and partners, the resolution of litigation, and a fair process for workers to organize. Starbucks also took the
significant step of providing employees represented by Workers United with the May 2022 benefits, including credit card tipping. As was
widely noted, this agreement represents a potentially &lsquo;huge shift&rsquo; in Starbucks&rsquo; labor relations strategy and a &lsquo;major
step forward for all involved.&rsquo;<SUP>1, 2</SUP></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; background-color: #FEFEFE">Since the announcements,
we have had meaningful dialogue with a number of other shareholders. Based on these discussions, we believe that by and large shareholders
are optimistic the Company has committed to these changes in good faith and intends to begin to repair its relationship with its workers,
which will ultimately enhance performance and shareholder value. We also believe Starbucks&rsquo; establishment of its Environmental,
Partner and Community Impact Board Committee represents an important governance reform, one which we hope will increase board oversight
and performance on Starbucks&rsquo; partner-related issues.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; background-color: #FEFEFE">While we continue
to believe that our three exceptionally qualified nominees &ndash; Maria Echaveste, Hon. Wilma Liebman, and Hon. Josh Gotbaum &ndash;
would be additive to the Starbucks Board, we feel that now is the time to acknowledge the progress that has been made and to allow the
Company and its workers to focus on moving forward. As such, we are withdrawing our director nominations.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; background-color: #FEFEFE">We think it&rsquo;s
imperative that shareholders continue to monitor the Board&rsquo;s performance and Starbucks&rsquo; approach to labor relations issues
in the coming months &ndash; and we plan to continue to hold the Company accountable going forward.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify; background-color: #FEFEFE">We would like to
thank our nominees, the shareholders we engaged with, and everyone involved with our campaign. We are truly hopeful that the commitments
made and steps taken last week will result in Starbucks returning to the right path, and the Company being able to fulfill its vast potential
for all its stakeholders.</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: center; background-color: white">***</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 3pt; text-align: left; background-color: white">__________________________________</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><SUP>1</SUP> The New York Times: <I>Starbucks and Union Agree to Work Out
Framework for Contract Talks</I>, By Noam Scheiber (Feb. 27, 2024).</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><SUP>2</SUP> Institutional Shareholder Services Inc. report issued on Feb.
29, 2024.</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 11pt; font-style: normal; font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: normal 11pt Arial, Helvetica, Sans-Serif; margin: 0"></P>


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<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>DISCLAIMER</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><FONT STYLE="background-color: #FEFEFE">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: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 6pt; text-align: justify"><B>IMPORTANT INFORMATION ABOUT THE BLUE PROXY
CARD</B></P>

<P STYLE="text-align: justify; font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt">Blue proxy cards that have been properly signed and returned to
the SOC or its agents will be voted as directed, except that any votes for the SOC&rsquo;s nominees on such cards will be disregarded
and will not be voted at the Annual Meeting. Relatedly, any votes marked for the Company&rsquo;s nominees on the blue proxy card will
be voted as directed at the Annual Meeting.</P>

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

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE"><B>Investor Contact</B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">Okapi Partners</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">Bruce Goldfarb / Pat McHugh,
(877) 285-5990</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE"><FONT STYLE="color: rgb(5,99,193)"><U>info@okapipartners.com</U></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify; background-color: #FEFEFE">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; background-color: #FEFEFE"><B>Media Contacts </B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; background-color: #FEFEFE">Longacre Square Partners</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; background-color: #FEFEFE"><FONT STYLE="color: rgb(5,99,193)"><U>soc-sbux@longacresquare.com</U></FONT></P>

<P STYLE="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt">&nbsp;</P>


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