Darden Restaurants Insider Award: 6,000 PSUs Granted to SVP Milanes
Rhea-AI Filing Summary
Form 4 highlights for Darden Restaurants, Inc. (DRI): Senior Vice President & Chief Supply Chain Officer Douglas J. Milanes reported an acquisition of 6,000 Performance Restricted Stock Units (PSUs) on 06/17/2025. The PSUs were earned at the conclusion of a performance cycle that began on 07/27/2022 and measured relative total shareholder return versus a defined peer group. The Compensation Committee determined the final payout at 200% of the 3,000-unit target, resulting in the 6,000-unit award.
The award converts one-for-one into DRI common shares and will vest in two equal annual installments beginning 07/27/2025. No shares were sold or disposed of. Following the transaction, Milanes directly owns 3,952.696 DRI common shares and 6,000 derivative securities (PSUs).
This filing reflects achievement of stretch performance goals rather than open-market buying or selling. It signals continued alignment between the executive’s compensation and Darden’s market performance but does not materially change the company’s share count.
Positive
- 200% performance payout: Achievement of relative TSR goals resulted in 6,000 PSUs versus 3,000 target, implying strong shareholder return performance.
Negative
- None.
Insights
TL;DR: Insider earned 6,000 PSUs (200% payout); no sales—neutral to slightly positive signal.
The Form 4 documents a routine equity-compensation event. The 6,000 PSUs derive from a 2022 award with relative TSR metrics; doubling of target indicates Darden outperformed its comparison group over the 34-month period. Because the units are earned—not purchased—the filing shows no incremental cash investment by the insider and creates no selling pressure. Vested conversion is staggered (50% in 2025, 50% in 2026), promoting retention. From a governance lens, the outcome evidences performance-based pay working as designed. For investors, the information is mildly positive as it confirms superior TSR, yet the economic impact is immaterial to DRI’s capitalization.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Restricted Stock Units (FY23) | 6,000 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan. On July 27, 2022, the Reporting Person was awarded 3,000 target performance restricted stock units (PSUs) subject to the achievement of performance criteria (relative total shareholder return as compared to a selected comparison group) from July 27, 2022 through May 25, 2025. Performance restricted stock units convert into common stock on a one-for-one basis. On June 17, 2025, the Compensation Committee of the Board of Directors determined the final results under the applicable performance criteria resulting in 6,000 PSUs being earned in accordance with the provisions of the applicable award agreement. This grant vests in two equal annual installments beginning on July 27, 2025.
