Form 4: Darden Restaurants CEO Ricardo Cardenas Executes Stock Transactions
SEC Form 4 Filing
Darden Restaurants CEO Ricardo Cardenas reports the acquisition and disposal of company stock, including the conversion of performance restricted stock units and a sale to cover tax obligations.
Summary
- On July 29, 2024, Ricardo Cardenas, the President and CEO of Darden Restaurants, engaged in transactions involving the company's stock.
- He converted 7,572 performance restricted stock units into common stock at a price of $0 per unit.
- Following this conversion, he disposed of 2,980 shares of common stock at a price of $142.27 per share.
- These transactions resulted in Cardenas holding 61,529.535 shares of Darden Restaurants common stock.
- The transactions included shares acquired through the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports stock transactions by an executive, which is a routine occurrence.
Industry Context
Form 4 filings are standard practice for reporting insider transactions and provide transparency into the trading activities of company executives.
Key Dates
| Date | Description |
|---|---|
| 07/29/2023 | First vesting date of the performance restricted stock units grant. |
| 07/29/2024 | Date of stock transactions: conversion of performance restricted stock units and sale of common stock. |
| 07/31/2024 | Date of signature for the Form 4 filing. |
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