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Starbucks’ Schultz Paid $21.8 Million in Final Year as CEO

  • Cash incentive fell to $3.2 million on sales, operating income
  • Schultz to leave CEO role April 3, remain executive chairman
Howard Schultz

Howard Schultz

Photographer: Bryan Bedder/Getty Images
Updated on

Starbucks Corp. boosted Chief Executive Officer Howard Schultz’s compensation 8.6 percent to $21.8 million for fiscal 2016, his last full year on the job, after the company posted record revenue and earnings.

Schultz, who’s also chairman and a billionaire, received a $1.5 million salary and $3.19 million cash incentive tied to adjusted net revenue and adjusted operating income for the year ended Oct. 2, according to a proxy statement filed Friday. He also got equity awards worth $16.9 million, split between stock options and restricted shares tied to goals.