Daniel J. Kiernan - 25 Jul 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.
Issuer symbol: DRI
Transactions as of: 25 Jul 2022
Net transactions value: -$105,205
Form type: 4
Filing time: 27 Jul 2022, 16:55:47 UTC
Previous filing: 26 Jul 2022
Next filing: 29 Jul 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DRI	Common Stock	Options Exercise	$0	+2,129	+14%	$0.000000	16,850	25 Jul 2022	Direct	F1
transaction	DRI	Common Stock	Tax liability	$95,855	-807	-4.8%	$118.78	16,043	25 Jul 2022	Direct
transaction	DRI	Common Stock	Options Exercise	$0	+78		$0.000000	78	25 Jul 2022	By Spouse	F2
transaction	DRI	Common Stock	Disposed to Issuer	$9,350	-78	-100%	$119.87	0	25 Jul 2022	By Spouse
holding	DRI	Common Stock						135	25 Jul 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	-2,129	-100%	$0.000000^*	0	25 Jul 2022	Common Stock	2,129		Direct	F1, F4, F5
transaction	DRI	Restricted Stock Units (DSU)	Options Exercise	$0	-78	-100%	$0.000000^*	0	25 Jul 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.