Eugene I. Lee Jr - Jul 29, 2022 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
Director, Executive Chairman
Signature
Jessica P. Lange, Attorney-in-fact for Lee, Eugene I. Jr.
Stock symbol
DRI
Transactions as of
Jul 29, 2022
Transactions value $
-$1,825,790
Form type
4
Date filed
8/1/2022, 01:11 PM
Previous filing
Jul 27, 2022
Next filing
Aug 3, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRI Common Stock Options Exercise $0 +36.7K +15.16% $0.00 278K Jul 29, 2022 Direct F1
transaction DRI Common Stock Tax liability -$1.83M -14.4K -5.18% $126.58 264K Jul 29, 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) Options Exercise $0 -36.7K -100% $0.00* 0 Jul 29, 2022 Common Stock 36.7K 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 Performance restricted stock units convert into common stock on a one-for-one basis.
F2 On June 29, 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.
F3 Includes 3,957 additional shares delivered as dividend equivalents upon settlement pursuant to the terms of the applicable award agreement.
F4 Earned PSUs settled 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.