PORTLAND, Ore. (AP) — Starbucks CEO Howard Schultz was given a pay package worth roughly $16 million in the company’s 2011 fiscal year.
Starbucks performed well last year, but Schultz’s compensation shrank by 26 percent compared to 2010, when he was given $22 million for bringing the company roaring back from the recession and more than doubling its profit.
Schultz received a nearly $1.4 million salary in 2011, according to a document filed Thursday with the Securities and Exchange Commission. That’s up 8 percent from the $1.3 million salary in the prior year. His cash performance bonus, as well as the value of his stock and option awards, shrank.
Starbucks gave him stock awards in 2011 worth $5.5 million, which is down 48 percent from the $10.5 million he was awarded the prior year. He was also given option awards worth nearly $6 million, down 4 percent from the $6.2 million in the prior year.
The company gave him a cash performance bonus of nearly $3 million in 2011, down from $3.5 million the prior year.
