Sonsteby Charles M - Jan 5, 2025 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
Director
Signature
Jessica P. Lange, Attorney-in-fact for Sonsteby, Charles M.
Stock symbol
DRI
Transactions as of
Jan 5, 2025
Transactions value $
$0
Form type
4
Date filed
1/7/2025, 06:05 PM
Previous filing
Nov 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DRI Common Stock Options Exercise $0 +1.82K +6.85% $0.00 28.4K Jan 5, 2025 Direct F1
transaction DRI Common Stock Options Exercise $0 +1.59K +5.62% $0.00 29.9K Jan 5, 2025 Direct F1

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 Restricted Stock Units Options Exercise $0 -1.82K -77.39% $0.00 531 Jan 5, 2025 Common Stock 1.82K Direct F1, F2, F3
transaction DRI Restricted Stock Units (FY15 Director Compensation) Options Exercise $0 -1.59K -60.24% $0.00 1.05K Jan 5, 2025 Common Stock 1.59K Direct F3, F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Restricted stock units convert into common stock on a one-for-one basis.
F2 The RSUs vest on the first to occur of one year from date of grant and the date of the next annual meeting of shareholders. The Reporting Person elected to defer settlement of the RSUs until the earlier of (i) the Reporting Person's termination of service from the Board and (ii) 01/05/2025.
F3 The number of restricted stock units 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 restricted stock unit 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).
F4 Contains FY15 and FY16 Director Compensation
F5 Each restricted stock unit represents the right to receive one share of the issuer's common stock upon vesting.
F6 The Reporting Person elected to take all of the quarterly cash retainer for serving as a director in the form of restricted stock units for which vested shares will be delivered to the Reporting Person on the first to occur of (i) the Reporting Person's termination of service as a director or (ii) 1/5/2025.