Darden (NYSE: DRI) director Wilmott granted 152 restricted stock units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Darden Restaurants Inc. director Timothy J. Wilmott received a grant of 152 restricted stock units as part of FY19 director compensation. These units were awarded at a price of $0.00 per unit, increasing his directly held restricted stock units to 6,022.
Each restricted stock unit converts into one share of Darden common stock. Wilmott has elected to take all quarterly cash retainers for serving as a director in the form of restricted stock units, with vested shares to be delivered when his service as a director ends. He also indirectly holds 27,094 Darden common shares through a trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
WILMOTT TIMOTHY J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units (FY19 Director Compensation) | 152 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units (FY19 Director Compensation) — 6,022 shares (Direct);
Common Stock — 27,094 shares (Indirect, By Trust)
Footnotes (1)
- Includes FY19, FY20, FY21, FY22, FY23, FY24, FY25, and FY26 director compensation. Restricted stock units convert into common stock on a one-for-one basis. 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 upon theReporting Person's termination of service as a director.
FAQ
What did Darden Restaurants (DRI) director Timothy J. Wilmott report on this Form 4?
Timothy J. Wilmott reported receiving a grant of 152 restricted stock units as part of Darden Restaurants’ FY19 director compensation. This award increased his directly held restricted stock units to 6,022, with each unit convertible into one share of Darden common stock.
How many Darden (DRI) restricted stock units does Timothy J. Wilmott hold after this grant?
After the reported grant, Timothy J. Wilmott holds 6,022 restricted stock units directly. These units were awarded as part of multi-year director compensation and convert into Darden common stock on a one-for-one basis when delivered under the director compensation terms.
Does Timothy J. Wilmott hold Darden (DRI) common stock indirectly through a trust?
Yes. The Form 4 shows Timothy J. Wilmott indirectly owning 27,094 shares of Darden common stock through a trust. This indirect holding is separate from his directly held restricted stock units that form part of his director compensation program.
How are Darden (DRI) director cash retainers paid to Timothy J. Wilmott?
Timothy J. Wilmott elected to receive all his quarterly cash retainer for serving as a Darden director in the form of restricted stock units. Vested shares from these units will be delivered when his service as a director terminates, instead of being paid in cash currently.
What is the conversion rate of Darden (DRI) restricted stock units reported by Timothy J. Wilmott?
The restricted stock units reported by Timothy J. Wilmott convert into Darden common stock on a one-for-one basis. This means each unit will become one share of common stock when delivered under the terms of the director compensation and deferral election.