SEC Form 4 · accession 0000921895-16-003131
DARDEN RESTAURANTS INC · DRI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jeffrey C Smith
Director
Period of report
Jan 28, 2016
Accepted (ET)
Feb 1, 2016 · 7:26 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000940944
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 28, 2016 | S | 69,318 | $63.4912 | D | 3,859,367 | I | By Managed Accounts of Starboard Value LP |
| Common StockF2 | Jan 28, 2016 | S | 50,511 | $63.4912 | D | 2,812,272 | I | By Starboard Leaders Delta LLC |
| Common StockF3 | Jan 28, 2016 | S | 4,645 | $63.4912 | D | 258,652 | I | By Starboard Value and Opportunity C LP |
| Common StockF4 | Jan 28, 2016 | S | 37,051 | $63.4912 | D | 2,062,831 | I | By Starboard Value and Opportunity Master Fund Ltd |
| Common StockF5 | Jan 28, 2016 | S | 8,475 | $63.4912 | D | 471,878 | I | By Starboard Value and Opportunity S LLC |
| Common StockF1 | Feb 1, 2016 | S | 61,163 | $63.336 | D | 3,798,204 | I | By Managed Accounts of Starboard Value LP |
| Common StockF2 | Feb 1, 2016 | S | 44,569 | $63.336 | D | 2,767,703 | I | By Starboard Leaders Delta LLC |
| Common StockF3 | Feb 1, 2016 | S | 4,099 | $63.336 | D | 254,553 | I | By Starboard Value and Opportunity C LP |
| Common StockF4 | Feb 1, 2016 | S | 32,691 | $63.336 | D | 2,030,140 | I | By Starboard Value and Opportunity Master Fund Ltd |
| Common StockF5 | Feb 1, 2016 | S | 7,478 | $63.336 | D | 464,400 | I | By Starboard Value and Opportunity S LLC |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares held in certain accounts managed by Starboard Value LP (the "Managed Accounts"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP LLC ("Starboard Value GP"), the general partner of Starboard Value LP, and as a member and member of the Management Committee of Starboard Principal Co GP LLC ("Principal GP"), the general partner of the member of Starboard Value GP, may be deemed to beneficially own the shares held in the Managed Accounts for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- F2Shares owned directly by Starboard Leaders Delta LLC ("Starboard Delta LLC"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the investment manager of Starboard Delta LLC, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the shares owned directly by Starboard Delta LLC for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- F3Shares owned directly by Starboard Value and Opportunity C LP ("Starboard C LP"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the investment manager of Starboard C LP, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the shares owned directly by Starboard C LP for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- F4Shares owned directly by Starboard Value and Opportunity Master Fund Ltd ("Starboard V&O Fund"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the investment manager of Starboard V&O Fund, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the shares owned directly by Starboard V&O Fund for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.
- F5Shares owned directly by Starboard Value and Opportunity S LLC ("Starboard S LLC"). The Reporting Person, solely by virtue of his position as a member of the Management Committee of Starboard Value GP, the general partner of the manager of Starboard S LLC, and as a member and member of the Management Committee of Principal GP, the general partner of the member of Starboard Value GP, may be deemed to beneficially own the shares owned directly by Starboard S LLC for purposes of Section 16. The Reporting Person expressly disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.