<h1 class="p-name" id="articleHeadline">Starbucks CEO will see base pay drop to $1 in April </h1><div class="dateline" id="dateline"><span class="dateline__updated">Updated <time aria-label="March twenty seventh, two thousand seventeen" datetime="2017-03-27T00:01">Mar 27, 2017</time><span aria-hidden="true">; </span></span><span class="dateline__published">Posted <time aria-label="March twenty seventh, two thousand seventeen" datetime="2017-03-27T00:00">Mar 27, 2017</time></span></div><div id="top_images"><div><span class="resimg adv-photo-large" data-image="http://media.oregonlive.com/business_impact/photo/22359092-mmmain.jpg" data-position="article-main">Howard Schultz </span></div><div class="Caption"> Howard Schultz will see his base salary drop from $1.5 million to $1 on April 3, 2017, when he relinquishes the CEO title to become executive chairman of Starbucks, according to a regulatory filing. The billionaire can still collect upward of $3.75 million in bonus pay. <em>(Stephen Brashear/Getty Images )</em></div></div><p><!-- Comment Bubble and Gigya Sharebar --> </p><div class="article__commentBubble-socialShare" id="article__commentBubble-socialShare"><div class="commentBubble__container" id="commentBubble__container"><button class="commentBubble commentBubble--unfocused" id="commentBubble" data-path="/business/index.ssf/2017/03/starbucks_ceo_will_see_base_pa.html"><span class="commentBubbleSpan" id="commentBubbleSpan" data-type="commentBubble"><div class="viafoura"><span class="vf-counter vf-widget" data-path="/business/index.ssf/2017/03/starbucks_ceo_will_see_base_pa.html" data-vf-id="1" data-widget="counter">5</span> </div></span> </button> </div><div class="adi-share-auto adi-share horizontal adi-share-flyout" id="social_20383427" style="visibility: visible;" gigid="showShareBarUI" data-link="http://www.oregonlive.com/business/index.ssf/2017/03/starbucks_ceo_will_see_base_pa.html" data-title="Starbucks CEO will see base pay drop to $1 in April " data-thumbnail="https://image.oregonlive.com/home/olive-media//img/business_impact/photo/22359092-small.jpg" data-layout="horizontal"><div class="gig-bar-container gig-share-bar-container"><div class="gig-button-container gig-button-container-count-none gig-button-container-facebook gig-button-container-facebook-count-none gig-share-button-container gig-button-container-horizontal"><div title="Recommend this on Facebook" class="gig-button-up" id="social_20383427-reaction0" alt="Recommend this on Facebook"><div tabindex="0" title="Share" class="sharer" role="button" alt="Share"></div></div></div><div class="gig-button-container gig-button-container-count-none gig-button-container-twitter gig-button-container-twitter-count-none gig-share-button-container gig-button-container-horizontal"><div title="Recommend this on Twitter" class="gig-button-up" id="social_20383427-reaction1" alt="Recommend this on Twitter"><div tabindex="0" title="Share" class="sharer" role="button" alt="Share"></div></div></div><div class="gig-button-container gig-button-container-count-none gig-button-container-email gig-button-container-email-count-none gig-share-button-container gig-button-container-horizontal"><div title="Email this" class="gig-button-up" id="social_20383427-reaction2" alt="Email this"><div tabindex="0" title="Share" class="sharer" role="button" alt="Share"></div></div></div></div><div tabindex="0" title="More share options" class="gig-button-container-more gig-button-more" id="social_20383427-more" role="navigation" aria-expanded="false" aria-label="main" alt="More share options"><div class="sharer"></div></div><div class="gig-count-total" id="social_20383427-count"><span class="total">1</span> share</div></div></div><div class="byline" id="byline"><p class="byline__author--noEmail" id="byline__author"> By <a title="Visit The Seattle Times's Author Page" id="byline__authorLink" href="http://connect.oregonlive.com/staff/seattle-times/posts.html"><u><font color="#0066cc">The Seattle Times</font></u></a></p> </div><p><!-- /Byline --> </p><div class="article__story" id="article__story"><!-- Article --> <div class="entry-content" id="entryContent"><p>SEATTLE -- Howard Schultz's base salary will be reduced to $1 once he steps down from his Starbucks CEO position next month.</p><p>That's certainly less than the $1.5 million in base salary he earned last year.</p><p>But no need to fret for the billionaire. He's still got a bonus target of $3.75 million when he steps into the role of executive chairman starting April 3, according to a filing with the Securities and Exchange Commission. That's equivalent to his prior bonus target as CEO.</p><p><strong>Schultz will also receive an equity award valued at $750,000, vesting over several years.</strong></p><p><strong>Last year, Schultz made $21.8 million in total compensation, which, in addition to the base salary, also included a $3.19 million cash bonus for reaching certain goals, $16.9 million in stock and option awards tied to long-term company performance, and $219,000 in other compensation.</strong></p><p><strong></strong></p><p><strong>Kevin Johnson, Starbucks' president and chief operating officer, who steps into the CEO role April 3, will earn a base salary of $1.3 million as CEO, according to the SEC filing.</strong></p><p>That's up from his base salary last year of $1 million.</p><p>Johnson's bonus target as CEO is being increased to 200 percent of his base salary, or $2 million. He'll also be granted a promotional equity award valued at $800,000.</p><div class="revenueUnit" id="InContent_Center_0" data-google-query-id="CJHg9eGbv98CFUJ7vQody90M8A" data-position-type="inArticle" data-position-name="InContent_Center"><div id="google_ads_iframe_344101295/OR/www.oregonlive.com/business_4__container__" style="border: 0pt currentColor; border-image: none;"><br></div></div><p>Johnson made $11.1 million in total compensation last year. In addition to his base salary, that included $1 million cash incentive bonus, $8.5 million in stock and option awards, $500,000 sign-on bonus, and $24,000 in other compensation.</p><p>--The Seattle Times<br></p></div></div><p><br></p>
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