Starbucks CEO Kevin Johnson speaks during the company’s annual shareholders meeting at WAMU Theater, on March 20, 2019 in Seattle, Washington.
Stephen Brashear | Getty Images
Starbucks shareholders rejected the coffee chain’s executive compensation proposal, in a rare admonition of an S&P 500 company.
The resolution is not binding and likely won’t impact the board’s decision. However, The Wall Street Journal, which first reported the news, said only 10 S&P 500 companies have had shareholders reject annual say-on-pay resolutions in the last year, based on data from ISS Corporate Solutions.
The proposal included a $1.86 million payout for CEO Kevin Johnson for fiscal 2020 performance as the…