Form 4: Darden Restaurants Executive Daniel J. Kiernan Reports Stock Transactions
SEC Form 4 Filing
Daniel J. Kiernan, President of Olive Garden, reports transactions involving Darden Restaurants Inc. stock, including the vesting and conversion of restricted stock units.
Summary
- On July 29, 2024, Daniel J. Kiernan, President of Olive Garden, reported transactions involving Darden Restaurants Inc. (DRI) stock.
- These transactions included the conversion of 4,544 performance restricted stock units into common stock and the vesting of 169 restricted stock units (DSUs).
- Kiernan also disposed of 1,789 shares of common stock to cover tax obligations at a price of $142.27 per share.
- Additionally, 169 shares were sold at $142.14 per share.
- Following these transactions, Kiernan directly owns 27,355.094 shares of common stock.
- Kiernan also has indirect ownership through his spouse and 401k accounts.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions by an executive. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Industry Context
This Form 4 filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their trading activities. It allows investors to monitor the actions of key executives and their potential impact on the company's stock.
Stakeholder Impact
- Shareholders can use this information to understand executive compensation and alignment with company performance.
Key Dates
| Date | Description |
|---|---|
| 07/29/2023 | Vesting start date for the grant in two equal annual installments |
| 07/29/2024 | Date of the reported transactions |
| 07/31/2024 | Date of the report |
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