Melvin John Martin - 28 Apr 2023 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
President, SRG
Signature
Jessica P. Lange, Attorney-in-fact for Martin, Melvin John
Issuer symbol
DRI
Transactions as of
28 Apr 2023
Net transactions value
-$192,951
Form type
4
Filing time
02 May 2023, 13:46:25 UTC
Previous filing
05 Jan 2023
Next filing
21 Jun 2023
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 +5,212 +42% $0.000000 17,625 28 Apr 2023 Direct F1, F2
transaction DRI Common Stock Tax liability $192,951 -1,270 -7.2% $151.93 16,355 28 Apr 2023 Direct F2

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) (CB) Award $0 +5,212 $0.000000 5,212 28 Apr 2023 Common Stock 5,212 Direct F1, F3, F4, F5
transaction DRI Performance Restricted Stock Units (FY19) (CB) Options Exercise $0 -5,212 -100% $0.000000* 0 28 Apr 2023 Common Stock 5,212 Direct F1, F5
* 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 Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan.
F3 On July 25, 2018, the Reporting Person was awarded 10,423 target performance restricted stock units (PSUs) subject to the achievement of performance criteria (Capital Burger restaurant openings performance goal) from July 25, 2018 through July 24, 2024.
F4 On April 28, 2023, the Compensation Committee Chair determined that the Tranche 1 performance criteria under the applicable award agreement were achieved resulting in 5212 PSUs being earned in accordance with the provisions of such award agreement.
F5 The earned PSUs vest on the date that they are earned.