Report – Starbucks CEO, top execs sell millions of shares

Seattle – Top executives of Starbucks Corp., including chairman, president and CEO Howard Schultz, reportedly sold a combined total of 448,320 company shares for about $37.54 million, an average of $83.74 each, on Dec. 9 and 10, 2014. According to Barrons.com, Schultz exercised options and sold shares for a total of $28.95 million, and also gifted 175,000 shares, leaving him holding about 16.78 million shares.



In addition, John Culver, group president of Starbucks Coffee China and Asia Pacific, channel development and emerging brands, and Lucy Lee Helm, executive VP, general counsel and secretary, exercised options and sold shares. Starbucks shares were trading at a near-record-high those two days.



A Starbucks spokesperson said the executives were not “blacked out” from trading on those dates and as a significant portion of their compensation is in company stock, they were merely diversifying. Research firm InsiderInsights.com rated the trades as “insignificantly bearish” and not indicative by themselves of any issues with Starbucks’ stock value.