Starbucks CEO paid $16 million in 2011 fiscal year

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PORTLAND, Ore. (AP) — Starbucks gave its CEO Howard Schultz a $16 million pay package in its 2011 fiscal year.

That’s down 26 percent from the $22 million pay package in the prior year when he got a boost for bringing the company roaring back from the recession.

Starbucks paid Schultz a $1.4 million salary for 2011 plus stock and option awards worth $11.5 million. The company gave him a cash performance bonus of nearly $3 million. He also received more than $235,000 in perks such as security and use of the company plane.

The AP’s calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.