Todd Burrowes - Jul 29, 2023 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
President, LongHorn Steakhouse
Signature
Anthony G. Morrow, Attorney-in-fact for Burrowes, Todd
Stock symbol
DRI
Transactions as of
Jul 29, 2023
Transactions value $
-$554,826
Form type
4
Date filed
8/1/2023, 05:24 PM
Previous filing
Jul 28, 2023
Next filing
Jun 21, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRI Common Stock Options Exercise $0 +5.05K +12.34% $0.00 46K Jul 29, 2023 Direct F1, F2
transaction DRI Common Stock Options Exercise $0 +3.37K +7.32% $0.00 49.3K Jul 29, 2023 Direct F2, F3
transaction DRI Common Stock Tax liability -$222K -1.33K -2.69% $167.52 48K Jul 29, 2023 Direct F2
transaction DRI Common Stock Tax liability -$333K -1.99K -4.14% $167.52 46K Jul 29, 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 (FY21) Options Exercise $0 -5.05K -50% $0.00 5.05K Jul 29, 2023 Common Stock 5.05K Direct F1, F4
transaction DRI Restricted Stock Units (FY21 Annual Grant) Options Exercise $0 -3.37K -100% $0.00* 0 Jul 29, 2023 Common Stock 3.37K Direct F3
* 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 Restricted stock units convert into common stock on a one-for-one basis.
F4 This grant vests in two equal annual installments beginning on July 29, 2023.