Kiernan Daniel J. - Jul 29, 2023 Form 4 Insider Report for DARDEN RESTAURANTS INC (DRI)

Role
President, Olive Garden
Signature
Anthony G. Morrow, Attorney-in-fact for Kiernan, Daniel J.
Stock symbol
DRI
Transactions as of
Jul 29, 2023
Transactions value $
-$527,783
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 +4.54K +27.2% $0.00 21.2K Jul 29, 2023 Direct F1
transaction DRI Common Stock Options Exercise $0 +3.03K +14.26% $0.00 24.3K Jul 29, 2023 Direct F2
transaction DRI Common Stock Tax liability -$200K -1.19K -4.91% $167.52 23.1K Jul 29, 2023 Direct
transaction DRI Common Stock Tax liability -$300K -1.79K -7.75% $167.52 21.3K Jul 29, 2023 Direct
transaction DRI Common Stock Options Exercise $0 +168 $0.00 168 Jul 29, 2023 By Spouse F3
transaction DRI Common Stock Disposed to Issuer -$28.6K -168 -100% $170.08 0 Jul 29, 2023 By Spouse
holding DRI Common Stock 138 Jul 29, 2023 By 401k and Spouse's 401k F4

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 -4.54K -49.99% $0.00 4.54K Jul 29, 2023 Common Stock 4.54K Direct F1, F5
transaction DRI Restricted Stock Units (FY21 Annual Grant) Options Exercise $0 -3.03K -100% $0.00* 0 Jul 29, 2023 Common Stock 3.03K Direct F2
transaction DRI Restricted Stock Units (DSU) Options Exercise $0 -168 -49.85% $0.00 169 Jul 29, 2023 Common Stock 168 By Spouse F3, F6, F7
* 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 Restricted stock units convert into common stock on a one-for-one basis.
F3 Each restricted stock unit (Darden Stock Unit "DSU") is the economic equivalent of one share of DRI common stock. The restricted stock unit (DSU) becomes payable in cash upon vesting.
F4 Represents holdings in the unitized Darden stock fund under the company's 401k plan for both the reporting person and the reporting person's spouse as of plan statements dated June 30, 2023. 97.3377 shares are owned by the reporting person's spouse's 401k. The reporting person disclaims beneficial ownership of these shares.
F5 This grant vests in two equal annual installments beginning on July 29, 2023.
F6 Vests in two equal annual installments beginning on July 29, 2023.
F7 The reporting person disclaims beneficial ownership of these units.