Charles M. Sonsteby - Oct 1, 2021 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
Director
Signature
Jessica P. Lange, Attorney-in-fact for Sonsteby, Charles M.
Stock symbol
DRI
Transactions as of
Oct 1, 2021
Transactions value $
$154,620
Form type
4
Date filed
10/4/2021, 12:58 PM
Previous filing
Oct 4, 2021
Next filing
Nov 30, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRI Common Stock Options Exercise $155K +3.12K +14.04% $49.51 25.4K Oct 1, 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 Stock Option (Right to Buy) Options Exercise $0 -3.12K -100% $0.00* 0 Oct 1, 2021 Common Stock 3.12K $49.51 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The number of stock options was adjusted in connection with the spin-off (the Spin-Off) of Four Corners Property Trust, Inc. (FCPT) from Darden Restaurants, Inc. (Darden) on November 9, 2015. The adjustment reflects the product of (i) the number of shares subject to the stock option awards immediately prior to the Spin-Off and (ii) the ratio of (A) the pre-Spin-Off closing price on November 9, 2015 of Darden Common Stock (Darden Pre-Spin-Off Price) and (B) the difference between the Darden Pre-Spin-Off Price and the volume weighted average price of FCPT Common Stock trading on the NYSE on the trading day immediately following the distribution date (adjusted to reflect the Darden-to-FCPT pro rata share distribution ratio in the Spin-Off).
F2 This option vested on September 17, 2015.