SEC Form 4 · accession 0001225208-18-012103
DARDEN RESTAURANTS INC · DRI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Todd Burrowes
Officer — President, LongHorn Steakhouse
Period of report
Jul 29, 2018
Accepted (ET)
Jul 31, 2018 · 7:20 pm EDT
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 | Jul 29, 2018 | M | 3,516 | $0.00 | A | 6,937 | D | |
| Common StockF1 | Jul 29, 2018 | M | 2,766 | $0.00 | A | 9,703 | D | |
| Common Stock | Jul 29, 2018 | F | 2,062 | $106.78 | D | 7,641 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance Restricted Stock Units (FY16)F2,F1,F3 | — | Jul 29, 2018 | M | 2,766 | D | — | Jul 29, 2019 | Common Stock | 2,766 | 9,417 | D |
| Performance Restricted Stock Units (FY16)F4,F1,F3 | — | Jul 29, 2018 | M | 3,516 | D | — | Jul 29, 2019 | Common Stock | 3,516 | 5,901 | D |
Explanation of responses
- F1Performance restricted stock units convert into common stock on a one-for-one basis.
- F2Includes 170 additional shares delivered as dividend equivalents upon settlement pursuant to the terms of the applicable award agreement. Fractional shares are settled in cash pursuant to the terms of the award agreement.
- F3This grant vests in two equal annual installments beginning on July 29, 2018.
- F4Includes 216 additional shares delivered as dividend equivalents upon settlement pursuant to the terms of the applicable award agreement. Fractional shares are settled in cash pursuant to the terms of the award agreement.