Eugene I. Lee Jr - Jun 21, 2022 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
Executive Chairman, Director
Signature
Jessica P. Lange, Attorney-in-fact for Lee, Eugene I. Jr.
Stock symbol
DRI
Transactions as of
Jun 21, 2022
Transactions value $
$0
Form type
4
Date filed
6/23/2022, 01:58 PM
Previous filing
Jun 1, 2022
Next filing
Jul 5, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding DRI Common Stock 222K Jun 21, 2022 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 (CEO) Award $0 +32.7K $0.00 32.7K Jun 21, 2022 Common Stock 32.7K Direct F1, F2, F3, F4
transaction DRI Performance Restricted Stock Units (FY20) Award $0 +12K $0.00 12K Jun 21, 2022 Common Stock 12K Direct F2, F5, F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 26, 2017, the Reporting Person was awarded 81,735 target special performance restricted stock units (PSUs) that vest in three tranches subject to the achievement of performance criteria (achievement ofthree-year, four-year and five-year EBITDA targets.) 26.7% vested on May 31, 2020, 33.3% vested on May 30, 2021 and the remaining 40% vested on May 29, 2022.
F2 Performance restricted stock units convert into common stock on a one-for-one basis.
F3 On June 21, 2022, the Compensation Committee of the Board of Directors determined the final results under the applicable performance criteria resulting in 32,694 PSUs being earned in accordance with the provisions of the applicable award agreement.
F4 Earned PSUs will settle into common stock on the fifth business day following the Chief Financial Officer's certification of the Company's achievement of the performance goal for the applicable performance period.
F5 On July 24, 2019, the Reporting Person was awarded 20,987 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 24, 2019 through May 29, 2022.
F6 On June 21, 2022, the Compensation Committee of the Board of Directors determined the final results under the applicable performance criteria resulting in 11,963 PSUs being earned in accordance with the provisions of the applicable award agreement.
F7 This grant vests in two equal annual installments beginning on July 24, 2022.