-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NuYgkmZ/sVFe6WrtFxFR+MA5KWGcncMijLgKmN2KFQAGLf4p3MBucbb5bFLiSaET rZSVEtQtd0bsUz5sDAurDA== /in/edgar/work/0000891020-00-001738/0000891020-00-001738.txt : 20000930 0000891020-00-001738.hdr.sgml : 20000930 ACCESSION NUMBER: 0000891020-00-001738 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000630 FILED AS OF DATE: 20000928 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STARBUCKS CORP CENTRAL INDEX KEY: 0000829224 STANDARD INDUSTRIAL CLASSIFICATION: [5810 ] IRS NUMBER: 911325671 STATE OF INCORPORATION: WA FISCAL YEAR END: 0928 FILING VALUES: FORM TYPE: 11-K SEC ACT: SEC FILE NUMBER: 000-20322 FILM NUMBER: 731149 BUSINESS ADDRESS: STREET 1: P O BOX 34067 CITY: SEATTLE STATE: WA ZIP: 98124-1067 BUSINESS PHONE: 2064471575 MAIL ADDRESS: STREET 1: 2401 UTAH AVENUE SOUTH CITY: SEATTLE STATE: WA ZIP: 98134 11-K 1 v65964e11-k.txt FORM 11-K 1 SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------------- FORM 11-K ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Mark One): [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED, EFFECTIVE OCTOBER 7, 1996]. For the fiscal year ended June 30, 2000 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]. For the transition from ____________ to __________ Commission File Number: 0-20322 A. Full title of the plan and the address of the plan, if different from that of the issuer name below: STARBUCKS CORPORATION EMPLOYEE STOCK PURCHASE PLAN - 1995 B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office: STARBUCKS CORPORATION 2401 Utah Avenue South Seattle, WA 98134 2 REQUIRED INFORMATION (a) Financial Statements Independent Auditors' Report Statements of Financial Condition as of June 30, 2000 and 1999 Statements of Income for the Fiscal Years Ended June 30, 2000, 1999, and 1998 Notes to Financial Statements (b) Exhibits 23 Consent of Deloitte & Touche LLP SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees or other persons who administer the employee benefit plan have duly caused this annual report to be signed on their behalf by the undersigned hereunto duly authorized. STARBUCKS CORPORATION EMPLOYEE STOCK PURCHASE PLAN - 1995 Date: September 27, 2000 By: /s/ Michael Casey --------------------------------- --------------------------------- Michael Casey executive vice president, chief financial officer and chief administrative officer 3 STARBUCKS CORPORATION EMPLOYEE STOCK PURCHASE PLAN - 1995 ================================================================================ FINANCIAL STATEMENTS FOR THE YEARS ENDED JUNE 30, 2000, 1999, AND 1998, AND INDEPENDENT AUDITORS' REPORT DELOITTE & TOUCHE LLP 4 INDEPENDENT AUDITORS' REPORT Plan Administrator Starbucks Corporation Employee Stock Purchase Plan - 1995 Seattle, Washington We have audited the accompanying statements of financial condition of the Starbucks Corporation Employee Stock Purchase Plan - 1995 (the Plan) as of June 30, 2000 and 1999, and the related statements of income for each of the three years in the period ended June 30, 2000. These financial statements are the responsibility of the Plan Administrator. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by the Plan Administrator, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, such financial statements present fairly, in all material respects, the financial condition of the Plan as of June 30, 2000 and 1999, and the results of operations for each of the three years in the period ended June 30, 2000, in conformity with accounting principles generally accepted in the United States of America. /s/ DELOITTE & TOUCHE LLP - ------------------------- DELOITTE & TOUCHE LLP August 11, 2000 5 STARBUCKS CORPORATION EMPLOYEE STOCK PURCHASE PLAN - 1995 STATEMENTS OF FINANCIAL CONDITION JUNE 30, 2000 AND 1999 ================================================================================
2000 1999 ------- ------- ASSETS: Cash $92,139 $56,825 ------- ------- TOTAL $92,139 $56,825 ======= ======= LIABILITIES: Deferred participant contributions $92,139 $56,825 ------- ------- TOTAL $92,139 $56,825 ======= =======
6 STARBUCKS CORPORATION EMPLOYEE STOCK PURCHASE PLAN - 1995 STATEMENTS OF INCOME YEARS ENDED JUNE 30, 2000, 1999, AND 1998 ================================================================================
2000 1999 1998 ---------- ---------- ---------- INCOME: Employee contributions, net of increase (decrease) in amounts deferred of $35,314, $(6,725), and $43,824 $9,713,199 $7,142,998 $4,652,217 EXPENSE: Cost of shares purchased 9,713,199 7,142,998 4,652,217 ---------- ---------- ---------- NET INCOME EQUITY: Beginning of year End of year $ -- $ -- $ -- ========== ========== ==========
7 STARBUCKS CORPORATION EMPLOYEE STOCK PURCHASE PLAN - 1995 NOTE TO FINANCIAL STATEMENTS YEARS ENDED JUNE 30, 2000, 1999, AND 1998 ================================================================================ NOTE 1: THE PLAN The following description of the Starbucks Corporation Employee Stock Purchase Plan - 1995 (the Plan) provides only general information. Participants should refer to the Plan agreement for a complete description of the Plan's provisions. GENERAL: The Plan Administrator believes the Plan meets the qualification standards of Section 423 of the Internal Revenue Code of 1986. The Plan is not subject to the provisions of the Employee Retirement Income Security Act of 1974. The Plan generally covers all regular employees of Starbucks Corporation (the Company) who have been employed for at least 90 days and have worked an average of 20 hours or more per week during such employment. CONTRIBUTIONS: Participants may make contributions in whole percent increments to the Plan through payroll deductions (not exceeding 10% of their base pay) for the purpose of purchasing the Company's common stock. The Plan commenced on July 1, 1995, and participants may purchase shares on each subsequent September 30, December 31, March 31, and June 30, until such time as the Plan is terminated (see Termination of the Plan). A maximum of 8,000,000 shares will be offered under the Plan. PURCHASES AND WITHDRAWALS: Participants may elect to purchase shares of Starbucks Corporation common stock from the Company at a price equal to 85% of the lesser of the fair market value on the first or last business day within the period of each three-month period ending September 30, December 31, March 31, or June 30. If the participant elects to withdraw from the Plan, or exceeds the $25,000 limit (see Limitations), the Company refunds the participant for amounts withheld but not yet used to purchase shares. The Plan purchased 424,979 shares during the year ended June 30, 2000, at prices ranging from $20.37 to $32.46; 385,752 shares during the year ended June 30, 1999, at prices ranging from $14.05 to $25.18; and purchased 271,884 shares during the year ended June 30, 1998, at prices ranging from $15.99 to $19.58. The Plan has purchased a total of 1,482,814 shares since the beginning of the Plan, leaving 6,517,186 shares reserved for future issue. ASSETS: Assets are comprised of cash in participant accounts that was less than the amount necessary to purchase a full share, and cash contributed to the Plan greater than the cost of the maximum number of shares allowed to be purchased in any one calendar year (see Limitations). Fractional share amounts are deferred and are carried over to the next period. Contribution amounts which exceed the limit are refunded to the participant. LIMITATIONS: No employee shall be permitted to subscribe for any shares under the Plan if such employee would then own shares representing 5% or more of the total combined voting power or value of all classes of shares of the Company. Additionally, no participant may purchase shares under the Plan with an aggregate fair market value (determined at the time such right to subscribe is granted) in excess of $25,000 in any one calendar year. Contribution amounts which exceed the limit are refunded to the participant. 8 TERMINATION OF THE PLAN: Upon termination of the Plan, the Company shall refund to each participant the balance of each participant's account. The Plan was amended and restated by the Board of Directors as of June 30, 2000. The Plan term has been extended until the earliest of the following: - The date of the filing of a Statement of Intent to Dissolve by the Company or the effective date of a merger or consolidation (except with a related company) where the Company is not to be the surviving corporation, which merger or consolidation is not between or among corporations related to the Company. In such event, the Company may permit a participating employee to carry out the right to purchase to the extent that employee payroll deductions have accumulated. - The date the Board acts to terminate the Plan. - The date when all shares reserved under the Plan have been purchased. PLAN ADMINISTRATION: All expenses for administration of the Plan are paid directly by the Company, and are not reflected in the accompanying statements. PLAN ACCOUNTING: The accompanying financial statements have been prepared on the accrual basis of accounting. STOCK SPLIT: On March 19, 1999, the Company effected a two-for-one stock split of its common stock for holders of record on March 5, 1999. 9 EXHIBIT INDEX
Exhibit No. Description - ----------- ----------- 23 Consent of Deloitte & Touche LLP
EX-23 2 v65964ex23.txt CONSENT OF DELOITTE & TOUCHE LLP 1 EXHIBIT 23 INDEPENDENT AUDITORS' CONSENT ================================================================================ We consent to the incorporation by reference in Registration Statement No. 33-92184 of Starbucks Corporation on Form S-8 of our report dated August 11, 2000, appearing in the Annual Report on Form 11-K of Starbucks Corporation Employee Stock Purchase Plan - 1995 for the year ended June 30, 2000. /s/ DELOITTE & TOUCHE LLP - ------------------------- DELOITTE & TOUCHE LLP Seattle, Washington September 27, 2000 -----END PRIVACY-ENHANCED MESSAGE-----