Form 4 for DRI Darden Restaurants
Accepted 2025-01-07 00:00:00 ET · period of report 2025-01-05 · accession 0001225208-25-000482 · 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DM | 2025-01-07 | 2025-01-05 | DRI | SONSTEBY CHARLES M | Dir | M - OptEx | $0.00 | +3,412 | 28.4K | +14% | $0 |
| DM | 2025-01-07 | 2025-01-05 | DRI | SONSTEBY CHARLES M | Dir | M - OptEx | $0.00 | -3,412 | 531 | -87% | $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 | 2025-01-05 | M | A | 1,594 | $0.00 | 29,948 | D | — | — | (F1) Restricted stock units convert into common stock on a one-for-one basis. |
| 2 | Common | Common Stock | 2025-01-05 | M | A | 1,818 | $0.00 | 28,354 | D | — | — | (F1) Restricted stock units convert into common stock on a one-for-one basis. |
| 3 | Derivative | Restricted Stock Units (FY15 Director Compensation) | 2025-01-05 | M | D | 1,594 | $0.00 | 1,052 | D | — · — to — | 1,594 Common Stock | (F4) Contains FY15 and FY16 Director Compensation (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). (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. |
| 4 | Derivative | Restricted Stock Units | 2025-01-05 | M | D | 1,818 | $0.00 | 531 | D | — · — to — | 1,818 Common Stock | (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). (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. |