SEC Form 4 · accession 0001225208-16-026782
DARDEN RESTAURANTS INC · DRI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Eugene I Lee Jr.
Officer — President and CEO · Director
Period of report
Feb 15, 2016
Accepted (ET)
Feb 17, 2016 · 4:27 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,F2 | Feb 15, 2016 | M | 456 | $0.00 | A | 104,734 | D | |
| Common Stock | Feb 15, 2016 | F | 121 | $58.67 | D | 104,613 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF1,F2,F3 | — | Feb 15, 2016 | M | 456 | D | — | — | Common Stock | 456 | 0 | D |
Explanation of responses
- F1The 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).
- F2Restricted stock units convert into common stock on a one-for-one basis.
- F3On February 13, 2015, the reporting person was granted 405 restricted stock units, vesting in one installment on the first anniversary of the grant date. The aggregate total includes other awards that have different vesting and expiration dates.