Form 4: Darden Restaurants CEO Ricardo Cardenas Executes Stock Option Exercises and Sales
SEC Form 4 Filing
Ricardo Cardenas, President and CEO of Darden Restaurants, recently exercised stock options and sold shares, according to a Form 4 filing with the SEC.
Summary
- On September 23, 2024, Ricardo Cardenas, the President and CEO of Darden Restaurants, executed transactions involving Darden Restaurants Inc. common stock.
- Cardenas exercised stock options to acquire 23,222 shares at $59.68 and 19,181 shares at $85.83.
- He then disposed of 2,890 shares as a gift and sold 13,937 shares at a weighted average price of $172.1979 and 28,466 shares at a weighted average price of $171.4309.
- Following these transactions, Cardenas directly owns 58,685.283 shares of Darden Restaurants Inc. common stock.
- The transactions included shares acquired through the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing detailing stock transactions by a company executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors for insights into management's perspective on the company's future performance.
Key Dates
| Date | Description |
|---|---|
| 07/27/2019 | Stock option vests in two equal annual installments beginning on this date. |
| 07/26/2020 | Stock option vests in two equal annual installments beginning on this date. |
| 07/26/2027 | Expiration date of one of the stock options. |
| 09/23/2024 | Date of the stock option exercises and sales. |
| 09/25/2024 | Date of the Form 4 filing. |
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