Cardenas Ricardo - Jul 24, 2023 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
President and CEO, Director
Signature
Jessica P. Lange, Attorney-in-fact for Cardenas, Ricardo
Stock symbol
DRI
Transactions as of
Jul 24, 2023
Transactions value $
-$2,683,077
Form type
4
Date filed
7/26/2023, 02:30 PM
Previous filing
Jul 7, 2023
Next filing
Jul 28, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRI Common Stock Options Exercise $1.39M +23.2K +49.49% $59.68 70.1K Jul 24, 2023 Direct F1
transaction DRI Common Stock Options Exercise $0 +1.79K +2.56% $0.00 71.9K Jul 24, 2023 Direct F1, F2
transaction DRI Common Stock Tax liability -$120K -706 -0.98% $170.37 71.2K Jul 24, 2023 Direct F1
transaction DRI Common Stock Sale -$3.95M -23.2K -32.6% $170.04 48K Jul 24, 2023 Direct F1, 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 (FY20) Options Exercise $0 -1.79K -100% $0.00* 0 Jul 24, 2023 Common Stock 1.79K Direct F2, F4
transaction DRI Stock Option (Right to Buy) Options Exercise $0 -23.2K -50% $0.00 23.2K Jul 24, 2023 Common Stock 23.2K $59.68 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan.
F2 Performance restricted stock units convert into common stock on a one-for-one basis.
F3 This transaction was executed in multiple trades at prices ranging from $170.00 to $170.20. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
F4 This grant vested in two equal annual installments beginning on July 24, 2022.
F5 This option vested in two equal annual installments beginning on July 27, 2019.