[Form 4] STARBUCKS CORP Insider Trading Activity

Rhea-AI Filing Summary

Starbucks (SBUX) executive Bradley E. Lerman, EVP and chief legal officer, reported the acquisition of 5,420 restricted stock units (RSUs) on 11/11/2025 at a stated price of $0 per the Form 4. These RSUs were earned upon achievement of performance goals from awards granted on May 15, 2023 and are scheduled to vest on 11/18/2025.

Following this transaction, Lerman’s beneficial ownership stands at 43,539.7975 shares of common stock. The filing notes this total includes 47.9292 shares purchased on June 30, 2025 under the Employee Stock Purchase Plan and 436 shares representing dividend equivalents on unvested time-based RSUs.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lerman Bradley E

(Last) (First) (Middle)

2401 UTAH AVENUE SOUTH

(Street)

SEATTLE WA 98134

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
STARBUCKS CORP [ SBUX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	evp, chief legal officer

3. Date of Earliest Transaction (Month/Day/Year)
11/11/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/11/2025		A		5,420(1)	A	$0	43,539.7975(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Restricted stock units (RSUs) earned on the achievement of performance goals under performance-based restricted stock units granted on May 15, 2023. The reported RSUs vest November 18, 2025.

2. Includes 47.9292 shares purchased on June 30, 2025, pursuant to the Starbucks Corporation Employee Stock Purchase Plan, and 436 shares representing dividend equivalents on unvested time-based RSUs.

	/s/Jonathan Miner, attorney-in-fact for Bradley E. Lerman	11/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Starbucks (SBUX) report in this Form 4?

EVP and chief legal officer Bradley E. Lerman acquired 5,420 RSUs on 11/11/2025 at a stated price of $0.

Why were the 5,420 RSUs granted to the SBUX executive?

They were earned on achievement of performance goals from performance-based RSUs granted on May 15, 2023.

When do these RSUs vest for the SBUX executive?

The reported RSUs vest on 11/18/2025.

What is Bradley E. Lerman’s total beneficial ownership after the transaction?

He beneficially owns 43,539.7975 shares of Starbucks common stock after the reported transaction.

What additional share amounts are included in the beneficial ownership total?

It includes 47.9292 shares purchased on 06/30/2025 via ESPP and 436 shares as dividend equivalents on unvested time-based RSUs.

What is the title of the reporting person at Starbucks (SBUX)?

Bradley E. Lerman is EVP and chief legal officer.