Darden (NYSE: DRI) CFO earns 5,890 shares on FY24 performance
Rhea-AI Filing Summary
Darden Restaurants reported that SVP and CFO Rajesh Vennam received a grant of 5,890 performance restricted stock units tied to fiscal 2024. These units were earned after the Compensation Committee confirmed performance results based on relative total shareholder return from July 26, 2023 through May 31, 2026.
The performance restricted stock units convert into common stock on a one-for-one basis and vest in two equal annual installments beginning on July 26, 2026, with an expiration date of July 26, 2027. Following the reported transactions, Vennam directly holds 9,080.407 shares of Darden common stock, including shares acquired through the employee stock purchase plan and dividend reinvestment.
Positive
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Negative
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Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Vennam Rajesh
Role
SVP, CFO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Performance Restricted Stock Units (FY24) | 5,890 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Performance Restricted Stock Units (FY24) — 5,890 shares (Direct);
Common Stock — 9,080.407 shares (Direct)
Footnotes (5)
- F1. Includes shares acquired pursuant to the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan.
- F2. On July 26, 2023, the Reporting Person was awarded 5,718 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 26, 2023 through May 31, 2026.
- F3. Performance restricted stock units convert into common stock on a one-for-one basis.
- F4. On June 23, 2026, the Compensation Committee of the Board of Directors determined the final results under the applicable performance criteria resulting in 5,890 PSUs being earned in accordance with the provisions of the applicable award agreement.
- F5. This grant vests in two equal annual installments beginning on July 26, 2026.
Key Figures
Performance RSUs granted: 5,890 units
Original target PSUs: 5,718 units
Common shares held: 9,080.407 shares
+3 more
6 metrics
Performance RSUs granted
5,890 units
Earned PSUs determined on June 23, 2026
Original target PSUs
5,718 units
Awarded on July 26, 2023
Common shares held
9,080.407 shares
Direct holdings after reported transactions
Vesting start date
July 26, 2026
First of two equal annual installments
PSU expiration date
July 26, 2027
Expiration date for FY24 performance RSUs
Performance period end
May 31, 2026
End of relative TSR measurement window
Key Terms
Performance Restricted Stock Units, relative total shareholder return, Employee Stock Purchase Plan, dividend reinvestment, +1 more
5 terms
Performance Restricted Stock Units financial
"Performance Restricted Stock Units (FY24)"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
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 financial
"and dividend reinvestment feature of the Plan"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
Compensation Committee financial
"the Compensation Committee of the Board of Directors determined the final results"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
FAQ
What did Darden Restaurants (DRI) CFO Rajesh Vennam receive in this Form 4 filing?
Darden Restaurants CFO Rajesh Vennam received 5,890 performance restricted stock units as compensation. These units were earned after meeting performance criteria and will convert into common stock, aligning his interests with shareholders over a multi‑year vesting period.
How do the 5,890 performance restricted stock units for Darden (DRI) CFO vest?
The 5,890 performance restricted stock units vest in two equal annual installments beginning on July 26, 2026. This staggered vesting schedule encourages longer-term retention and ties compensation to continued service with Darden Restaurants during the vesting period.
What performance period determined the Darden (DRI) CFO’s earned PSUs?
The earned 5,890 performance restricted stock units were based on performance from July 26, 2023 through May 31, 2026. The metric was relative total shareholder return compared to a selected comparison group, as confirmed by the Compensation Committee on June 23, 2026.
How do Darden (DRI) performance restricted stock units convert into common stock?
Darden’s performance restricted stock units convert into common stock on a one-for-one basis. This means each earned unit becomes one Darden common share upon conversion, directly linking the CFO’s compensation value to the company’s share price performance over time.
What was the original target number of Darden (DRI) PSUs granted to the CFO?
On July 26, 2023, the CFO was originally awarded 5,718 target performance restricted stock units. The final earned amount increased to 5,890 units after the Compensation Committee evaluated results against the relative total shareholder return performance criteria through May 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
