Vennam Rajesh - Jun 22, 2021 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
SVP, CFO and Treasurer
Signature
Jessica P. Lange, Attorney-in-fact for Vennam, Rajesh
Stock symbol
DRI
Transactions as of
Jun 22, 2021
Transactions value $
$0
Form type
4
Date filed
6/24/2021, 02:43 PM
Next filing
Jul 27, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding DRI Common Stock 1.69K Jun 22, 2021 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DRI Performance Restricted Stock Units (FY19) Award $0 +1.1K $0.00 1.1K Jun 22, 2021 Common Stock 1.1K Direct F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 25, 2018, the Reporting Person was awarded 1,042 target performance restricted stock units (PSUs) subject to the achievement of performance criteria (relative total shareholder return as compared to a selected comparison group) from July 25, 2018 through May 30, 2021.
F2 Performance restricted stock units convert into common stock on a one-for-one basis.
F3 On June 22, 2021, the Compensation Committee of the Board of Directors determined the final results under the applicable performance criteria resulting in 1,104.52 PSUs being earned in accordance with the provisions of the applicable award agreement. Pursuant to the terms of the applicable award agreement, additional shares of Darden common stock representing accrued dividend equivalents will be delivered to the Reporting Person upon settlement of the PSUs.
F4 This grant vests in two equal annual installments beginning on July 25, 2021.