Kiernan Daniel J. - Jul 25, 2022 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
President, Olive Garden
Signature
Jessica P. Lange, Attorney-in-fact for Kiernan, Daniel J.
Stock symbol
DRI
Transactions as of
Jul 25, 2022
Transactions value $
-$105,205
Form type
4
Date filed
7/27/2022, 04:55 PM
Previous filing
Jul 26, 2022
Next filing
Aug 10, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRI Common Stock Options Exercise $0 +2.13K +14.46% $0.00 16.9K Jul 25, 2022 Direct F1
transaction DRI Common Stock Tax liability -$95.9K -807 -4.79% $118.78 16K Jul 25, 2022 Direct
transaction DRI Common Stock Options Exercise $0 +78 $0.00 78 Jul 25, 2022 By Spouse F2
transaction DRI Common Stock Disposed to Issuer -$9.35K -78 -100% $119.87 0 Jul 25, 2022 By Spouse
holding DRI Common Stock 135 Jul 25, 2022 By 401k and Spouse's 401k F3

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) Options Exercise $0 -2.13K -100% $0.00* 0 Jul 25, 2022 Common Stock 2.13K Direct F1, F4, F5
transaction DRI Restricted Stock Units (DSU) Options Exercise $0 -78 -100% $0.00* 0 Jul 25, 2022 Common Stock 78 By Spouse F2, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Performance restricted stock units convert into common stock on a one-for-one basis.
F2 Each restricted stock unit (Darden Stock Unit "DSU") is the economic equivalent of one share of DRI common stock. The restricted stock unit (DSU) becomes payable in cash upon vesting.
F3 Represents holdings in the unitized Darden stock fund under the company's 401k plan for both the reporting person and the reporting person's spouse as of plan statements dated June 30, 2022. 97.3377 shares are ownedby the reporting person's spouse's 401k. The reporting person disclaims beneficial ownership of these shares.
F4 Includes 196 additional shares delivered as dividend equivalents upon settlement pursuant to the terms of the applicable award agreement. Fractional shares are settled in cash pursuant to the terms of the award agreement.
F5 This grant vested in two equal annual installments beginning on July 25, 2021.
F6 Vested in two equal annual installments beginning on July 25, 2021.