Form 4 for DRI Darden Restaurants
Accepted 2023-03-30 00:00:00 ET · period of report 2023-03-28 · accession 0001225208-23-004325 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| D | 2023-03-30 | 2023-03-28 | DRI | Cardenas Ricardo | Pres, CEO, Dir | S - Sale+OE | $155.02 | -12.7K | 48.3K | -21% | -$1.97M |
| D | 2023-03-30 | 2023-03-28 | DRI | Cardenas Ricardo | Pres, CEO, Dir | M - OptEx | $65.02 | +12.7K | 61.0K | +26% | +$828.0K |
| D | 2023-03-30 | 2023-03-28 | DRI | Cardenas Ricardo | Pres, CEO, Dir | M - OptEx | $0.00 | -12.7K | 0 | -100% | $0 |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2023-03-28 | S | D | 12,735 | $155.02 | 48,303.59 | D | — | — | (F2) This transaction was executed in multiple trades at prices ranging from $154.76 to $155.385. 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. (F1) Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan. |
| 2 | Common | Common Stock | 2023-03-28 | M | A | 12,735 | $65.02 | 61,038.59 | D | — | — | (F1) Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan. |
| 3 | Derivative | Stock Option (Right to Buy) | 2023-03-28 | M | D | 12,735 | $0.00 | 0 | D | $65.02 · — to 2025-07-29 | 12,735 Common Stock | (F3) 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). (F4) This option vested in two equal annual installments beginning July 29, 2018. |