SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a)
of the Securities Exchange Act of 1934
Filed by the Registrant ¨
Filed by a Party other than the Registrant þ
Check the appropriate box:
¨ | Preliminary Proxy Statement |
¨ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
¨ | Definitive Proxy Statement |
¨ | Definitive Additional Materials |
þ | Soliciting Material Under Rule 14a-12 |
Starbucks Corporation
(Name of Registrant as Specified in Its Charter)
Strategic Organizing Center
Service Employees International Union
Mary Kay Henry
Ahmer Qadeer
Michael Zucker
Maria Echaveste
Joshua Gotbaum
Wilma B. Liebman
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check all boxes that apply):
þ | No fee required. |
¨ | Fee paid previously with preliminary materials. |
¨ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11. |
From time to time, Tejal Patel, an employee of the SOC Investment Group, may deliver the following remarks or substantially similar remarks relating to Starbucks Corporation to investors or other stakeholders in various public forums.
Employees are a critical component of Starbucks' business model and a driver of shareholder value. Unfortunately, we believe the Starbucks Board has failed to effectively oversee the Company’s approach to this critical stakeholder group over the past two years. As Starbucks’ workers have voted to unionize over 380 stores, allegations of labor rights violations filed with the National Labor Relations Board have mounted. After investigating and finding merit in charges by workers, the NLRB has issued over 130 complaints against Starbucks, which include in aggregate, about 400 charges of violating federal labor law. Additionally, the Company has received 30 adverse administrative law judge decisions, which the Company is appealing to the full NLRB. The Company has also appealed to the Supreme Court an NLRB decision that required Starbucks to rehire seven pro-union baristas who were previously terminated by the Company. We believe Starbucks’ recent approach to labor issues has demonstrated a severe mismanagement of its human capital and has, and may continue to, materially damage the way customers and employees perceive the Company, exposing its business to reputational and financial risk.
In our view, the Board’s chronically poor oversight of human capital management and its apparent failure to address labor rights issues—which are part of the Company’s stated commitment to international human rights—jeopardizes long-term shareholder value. While the Company recently unilaterally appointed new directors, we believe the Board could be better equipped to meet its human capital management and labor challenges. For these reasons, we have nominated 3 directors to the Starbucks Board:
We have filed a preliminary proxy statement with the SEC. We intend to file a definitive proxy statement shortly with the SEC and distribute BLUE proxy cards to shareholders. There is also more information on the contest’s website, www.brewabetterstarbucks.com.
Going forward, we intend to communicate with investors regarding our nominations and how investors can vote on the BLUE proxy card or BLUE voting instruction form with their banks or brokers. We would appreciate your consideration of these candidates for the Starbucks Board at the AGM, which we expect to be on March 13, 2024 based on the Company’s prior filings, and are happy to discuss further with any investors as we get closer to the meeting date.