Form 4: Darden Director Converts RSUs, Receives New Grant

Darden Restaurants Director William S. Simon converted 1,162 restricted stock units into common stock and received a new grant of 886 restricted stock units.

Summary

• William S. Simon, a Director of Darden Restaurants Inc. (DRI), reported changes in his beneficial ownership of company securities.
• On September 17, 2025, Mr. Simon acquired 1,162 shares of Darden Restaurants Common Stock through the conversion of restricted stock units (RSUs) at a price of $0 per share.
• Following this conversion, Mr. Simon beneficially owns 8,614 shares of Common Stock directly.
• Concurrently, 1,162 Restricted Stock Units (FY25 Director Annual Grant) were disposed of due to their conversion into common stock.
• Mr. Simon also acquired 886 new Restricted Stock Units (FY26 Director Annual Grant) on September 17, 2025, with a price of $0.0000.
• After these transactions, Mr. Simon beneficially owns 886 Restricted Stock Units directly.
• The restricted stock units convert into common stock on a one-for-one basis.
• The newly granted RSUs vest on the earlier of one year from the grant date or the date of the next annual meeting of shareholders.

Sentiment

Score: 7

Explanation: The filing reports routine insider transactions involving the conversion of restricted stock units and the grant of new units to a director. This indicates ongoing director compensation and continued equity participation, which is generally a neutral to slightly positive signal regarding management alignment, but does not suggest any significant operational or financial changes.

Positives

• Director William S. Simon's continued equity participation through the acquisition of new restricted stock units demonstrates ongoing alignment with shareholder interests.
• The conversion of existing restricted stock units into common stock increases the director's direct ownership in the company.

Risks

• Intentional misstatements or omissions of facts constitute Federal Criminal Violations, as per 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Future Outlook

The newly granted Restricted Stock Units (FY26 Director Annual Grant) are scheduled to vest on the first to occur of one year from the grant date (September 17, 2025) and the date of the next annual meeting of shareholders.

Industry Context

This filing details a routine insider compensation event for a director of Darden Restaurants, a major player in the casual dining industry. Such transactions are standard practice for executive and director compensation across publicly traded companies and do not inherently reflect broader industry trends or competitive positioning.

Corporate Governance

Stakeholder Impact

• Shareholders: The transactions represent routine director compensation and equity participation, aligning director interests with long-term shareholder value, with minimal direct impact on company operations or financial performance.

Next Steps

• Vesting of the 886 Restricted Stock Units (FY26 Director Annual Grant) on the earlier of one year from September 17, 2025, or the date of the next annual meeting of shareholders.

Key Dates

Recommendation

This Form 4 details a routine insider transaction involving the conversion of restricted stock units and the grant of new units to a director. Such transactions are part of standard compensation practices and do not typically signal significant changes in company fundamentals or warrant a change in investment thesis based solely on this filing. Investors should consider broader company performance, industry trends, and financial reports for investment decisions.

Keywords

Darden Restaurants, DRI, Form 4, Insider Transaction, Restricted Stock Units, RSU, Common Stock, Director, William S. Simon, Equity Compensation