About 94% of Niccol’s pay came from stock awards, according to a filing. The majority of these are performance-based, while the rest are time-based and vest over a three-year period. Niccol, who joined Starbucks in early September, also received a $5 million sign-on bonus after completing one month with the company.
Niccol was brought in to turn the business around following a series of sales declines under the prior CEO. Recruited from Chipotle Mexican Grill Inc., he wasn’t required to relocate to Seattle, Starbucks’ headquarters, and the company covered temporary housing expenses as well as his use of the corporate jet.
Compensation Details
The filing revealed that Starbucks covered over $143,000 in housing costs, with about half of this amount attributed to tax-related payments. Additionally, Niccol spent around $72,000 on flights between his home in Southern California and Seattle, as well as $19,000 for other personal use of the company aircraft.
At the time of his hiring, Bloomberg estimated Niccol’s annual pay package to be valued at approximately $113 million, a large portion of which was tied to equity to compensate for the awards he forfeited from his previous employer. This places him among the top 20 highest-paid CEOs, as per the Bloomberg Pay Index.
In the filing, Starbucks described Niccol as a “highly sought-after, effective leader with a proven track record,” highlighting his ability to drive growth for the coffee chain.
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