Starbucks Executives Liquidate Shares Through Planned Transactions and Tax Withholding

Between March 5 and 24, Starbucks executives sold portions of their holdings or had shares withheld to cover taxes on vested RSUs under pre-arranged trading plans. Each transaction involved only a fraction of their stakes, and all executives still retain equity positions valued in the billions of Korean won.

On March 5, Chief Partner Officer Sara Kelly sold 2,500 shares of common stock at $97.12 per share under a 10b5-1 plan, raising approximately $242,800 (about KRW 320 million). After the sale, her remaining Starbucks holdings are valued at around $5.79 million (roughly KRW 7.8 billion), indicating this was a liquidity move on part of her stake.

That same day, International Business CEO Brady Brewer sold 1,641 shares at the identical average price, generating about $159,000 (around KRW 200 million). His sale also followed a December 2025 10b5-1 plan, and he continues to hold significant equity alongside unvested RSU-based compensation, keeping his interests aligned with the company.

On March 24, CFO Cathy R. Smith had roughly 2,200 shares withheld at $91.98 per share to satisfy tax obligations on vested RSUs. This ‘F’-code transaction was purely for tax withholding rather than an open-market sale. Smith still owns tens of thousands of shares and holds dividend-equivalent units linked to her unvested RSUs.

Meanwhile, Starbucks is working to revive long-stalled collective bargaining with the U.S. union Workers United by scheduling face-to-face negotiations and submitting a new contract proposal. In February and March, the company also disclosed that a social-engineering attack targeting its partner portal exposed some employee personal data; Starbucks has launched an investigation and is reinforcing its security measures.

Founded in 1971 in Seattle, Starbucks is the world’s largest coffee chain with thousands of stores globally, operating under a mixed franchise and company-owned model. In recent years, unionization drives and disputes over wages and working conditions in the U.S. have made labor relations and corporate governance key focus areas for both investors and regulators.