Darden Restaurants (NYSE: DRI) CEO sells 39,134 shares, gets new awards
Rhea-AI Filing Summary
Darden Restaurants President and CEO Ricardo Cardenas reported a mix of equity grants, option exercises and share sales. He received 12,792 restricted stock units as an FY27 annual grant and 37,735 stock options with a $212.23 exercise price. He exercised 19,091 options at $124.24 per share into common stock and sold a total of 39,134 shares in four open‑market transactions.
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Insights
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Insider Trade Summary
Exercise and sale activity reported; no spread calculated
Exercise and Sale
8 txns
Insider
Cardenas Ricardo
Role
President and CEO
Sold
39,134 shs ($8.18M)
Approx. gross sale proceeds
$8.18M
Approx. exercise cost
$2.37M
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units (FY27 Annual Grant) F7 | 12,792 | $0.00 | $0.00 |
| Grant/Award | Stock Option (Right to Buy) F8 | 37,735 | $0.00 | $0.00 |
| Exercise | Stock Option (Right to Buy) F6 | 19,091 | $0.00 | $0.00 |
| Exercise | Common Stock F1 | 19,091 | $124.24 | $2.37M |
| Sale | Common Stock F2, F1 | 3,801 | $209.5754 | $797K |
| Sale | Common Stock F3, F1 | 7,241 | $209.4085 | $1.52M |
| Sale | Common Stock F4, F1 | 12,802 | $208.795 | $2.67M |
| Sale | Common Stock F5, F1 | 15,290 | $208.9985 | $3.20M |
Holdings After Transaction:
Stock Option (Right to Buy) — 37,735 shares (Direct);
Restricted Stock Units (FY27 Annual Grant) — 12,792 shares (Direct);
Common Stock — 86,145.988 shares (Direct)
Footnotes (8)
- F1. Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan.
- F2. This transaction was executed in multiple trades at prices ranging from $209.42 to $209.92. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
- F3. This transaction was executed in multiple trades at prices ranging from $209.24 to $209.9. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
- F4. This transaction was executed in multiple trades at prices ranging from $208.23 to $209.225. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
- F5. This transaction was executed in multiple trades at prices ranging from $208.42 to $209.415. The price reported above reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares and prices at which the transaction was effected.
- F6. This option vests in two equal annual installments beginning on July 24, 2022.
- F7. Restricted stock units convert into common stock on a one-for-one basis.
- F8. This option vests in two equal annual installments beginning on July 29, 2029.
Key Figures
Restricted stock units granted: 12,792 units
Stock options granted: 37,735 options
New option exercise price: $212.23 per share
+3 more
6 metrics
Restricted stock units granted
12,792 units
FY27 annual RSU grant to President and CEO Ricardo Cardenas
Stock options granted
37,735 options
New options granted 2026-07-29 with $212.23 exercise price, expiring 2036-07-29
New option exercise price
$212.23 per share
Exercise price for 37,735 stock options granted to Ricardo Cardenas
Options exercised
19,091 options
Options exercised into common stock on 2026-07-28
Option exercise price
$124.24 per share
Exercise price for 19,091 options converted into common stock
Shares sold
39,134 shares
Total common shares sold in four open-market transactions on 2026-07-28
Key Terms
Restricted stock units, Employee Stock Purchase Plan, dividend reinvestment feature, weighted average sale price, +1 more
5 terms
Restricted stock units financial
"Restricted stock units convert into common stock on a one-for-one basis."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Employee Stock Purchase Plan financial
"Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan"
An employee stock purchase plan is a company program that lets workers buy shares through small payroll deductions, often at a discount to the market price and after a set offering period. Think of it like a workplace savings plan that turns into ownership: it encourages employees to share in the company’s success and can create predictable buying or selling of stock that investors watch because it affects supply, demand and employee incentives.
dividend reinvestment feature financial
"and dividend reinvestment feature of the Plan."
weighted average sale price financial
"The price reported above reflects the weighted average sale price."
Exercise or conversion of derivative security financial
"transaction code description is "Exercise or conversion of derivative security""
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity awards did Darden Restaurants (DRI) CEO Ricardo Cardenas receive in this Form 4?
Ricardo Cardenas received two new equity awards: 12,792 restricted stock units as his FY27 annual grant and 37,735 stock options with a $212.23 exercise price per share, both reported as directly held in his name.
What options did Ricardo Cardenas exercise in this Darden Restaurants (DRI) filing?
He exercised 19,091 stock options with a $124.24 exercise price per share, converting them into an equal number of common shares. The derivative transaction is coded as an exercise or conversion of a derivative security.
How do the restricted stock units in Darden Restaurants (DRI) CEO Ricardo Cardenas’s grant convert into common stock?
The FY27 restricted stock units convert into common stock on a one‑for‑one basis. A footnote specifies that each restricted stock unit will settle into one share of Darden Restaurants common stock upon conversion, increasing his direct equity holdings.
What is the vesting schedule and expiration for the new Darden Restaurants (DRI) stock options?
The newly granted options on 37,735 shares vest in two equal annual installments beginning July 29, 2029. According to the footnote, these options expire on July 29, 2036, if they are not exercised before that date.
Were Ricardo Cardenas’s Darden Restaurants (DRI) transactions reported as made under a Rule 10b5‑1 trading plan?
The Form’s Rule 10b5‑1 checkbox was not affirmed as a trading plan, and the footnotes describing these transactions do not reference any Rule 10b5‑1 or pre‑arranged trading plan arrangement.