Bean Stock was created in 1991 as a way for Starbucks employees to share in the company’s success through Starbucks stock. While company stock plans were not unusual at this time, the idea of sharing the growing value of the company with part and full-time employees was unheard of in the retail industry. When Bean Stock gave our employees the opportunity to own a piece of the company, we became known as partners.
To this day, Bean Stock remains a unique benefit – one that both rewards and recognizes the contributions of our partners. Find out what partners around the world have done with their Bean Stock in Partner Stories.
by watching the 2022 Bean Stock grant announcement for a one-minute overview and then dig into some Bean Stock basics below
Starbucks is a publicly traded company. This means that anyone who wants to own a piece of Starbucks can become a shareholder by purchasing shares of Starbucks stock through a registered broker. As a Starbucks partner, you have the opportunity through Bean Stock to own shares of Starbucks stock without making any purchase.
To receive shares from your Bean Stock, you must remain employed by Starbucks without any breaks in service during the vesting (waiting) period. That’s when you become a shareholder.
As a Starbucks shareholder, you can hold your shares or sell them at any time. Be aware that our stock price fluctuates over time. When Starbucks stock price goes up, so does the value of your shares (and vice versa).
Bean Stock is granted annually, typically in November. There is no need to enroll for Bean Stock – you are eligible for the annual grant if you:
- Are hired by Starbucks as of May 1 before the November grant date,
- Are a store partner or retail support partner in a position up to, but not including grade 25+ jobs, and
- Work in a company owned market (licensed/franchise stores are not eligible)
Let’s say you are hired as a barista on February 3, 2022 and you don’t have any breaks in service. You would receive your first Bean Stock grant in November 2022.
And as long as you remain continuously employed in an eligible role, you will receive a new Bean Stock grant each year.
Note: Each year’s grant must be approved by the Starbucks Board of Directors. The approval date determines each year’s grant date.
Bean Stock is designed to reward partners who stay with the company. Eligible partners are granted Bean Stock Restricted Stock Units (RSUs), which turn into shares of Starbucks stock over a two-year period. To receive shares, you must be continuously employed during that waiting period, called vesting.
If you stay employed by Starbucks for at least one year from the grant date with no breaks in service, you’ll receive the first half of your Bean Stock. If you remain employed two years from the grant date, you’ll receive the second half. Once you own the shares, you can hold or sell them.
For each RSU, you receive one share of Starbucks stock.
Important: If you leave the company before the vesting date(s), your unvested Bean Stock grant will cancel and no shares will be issued to you.
Vesting is a legal term often used when talking about stock or retirement plans. For Bean Stock, it is basically a waiting period during which you must remain employed by Starbucks in order to receive shares of Starbucks stock from your vested Bean Stock.
Bean Stock typically has a two-year vesting schedule. As long as you remain employed by Starbucks, you’ll receive half of the shares one year after the grant date. If you remain employed for two years after the grant date, you will receive the other half.
Any shares you hold from vested Bean Stock are yours to keep. You can hold these shares at Fidelity regardless of your employment with Starbucks.
Any unvested Bean Stock will be cancelled upon separation.
Let’s say you received a Bean Stock grant of 6 RSUs on November 10, 2021. The first half of your grant is scheduled to vest on November 10, 2022 and the second half on November 10, 2023.
If you decide to leave the company on April 1, 2023:
- You would own 3 shares (less taxes) that vested on November 10, 2022.
- The 3 unvested RSUs would cancel on April 1, 2023.
Please be aware that if you decide to work at Starbucks again, previously cancelled Bean Stock grants cannot be reinstated due to plan rules.