Fogarty James P - Jun 30, 2023 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role: Director
Signature: Jessica P. Lange, Attorney-in-fact for Fogarty, James P.
Stock symbol: DRI
Transactions as of: Jun 30, 2023
Transactions value $: $154,620
Form type: 4
Date filed: 7/5/2023, 03:32 PM
Previous filing: Sep 23, 2022
Next filing: Sep 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DRI	Common Stock	Options Exercise	$155K	+3.12K	+16.71%	$49.51	21.8K	Jun 30, 2023	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	Stock Option (Right to Buy)	Options Exercise	$0	-3.12K	-100%	$0.00^*	0	Jun 30, 2023	Common Stock	3.12K	$49.51	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The options vest on the first to occur of one year from date of grant and the date of the next annual meeting of shareholders.
F2	The number of stock options was adjusted in connection with the spin-off (the Spin-Off) of Four Corners Property Trust, Inc. (FCPT) from Darden Restaurants, Inc. (Darden) on November 9, 2015. The adjustment reflects the product of (i) the number of shares subject to the stock option awards immediately prior to the Spin-Off and (ii) the ratio of (A) the pre-Spin-Off closing price on November 9, 2015 of Darden Common Stock (Darden Pre-Spin-Off Price) and (B) the difference between the Darden Pre-Spin-Off Price and the volume weighted average price of FCPT Common Stock trading on the NYSE on the trading day immediately following the distribution date (adjusted to reflect the Darden-to-FCPT pro rata share distribution ratio in the Spin-Off).

Content

The options vest on the first to occur of one year from date of grant and the date of the next annual meeting of shareholders.

The number of stock options was adjusted in connection with the spin-off (the Spin-Off) of Four Corners Property Trust, Inc. (FCPT) from Darden Restaurants, Inc. (Darden) on November 9, 2015. The adjustment reflects the product of (i) the number of shares subject to the stock option awards immediately prior to the Spin-Off and (ii) the ratio of (A) the pre-Spin-Off closing price on November 9, 2015 of Darden Common Stock (Darden Pre-Spin-Off Price) and (B) the difference between the Darden Pre-Spin-Off Price and the volume weighted average price of FCPT Common Stock trading on the NYSE on the trading day immediately following the distribution date (adjusted to reflect the Darden-to-FCPT pro rata share distribution ratio in the Spin-Off).