Form 4: Darden Restaurants Executive Todd Burrowes Reports Stock Transactions

Todd Burrowes, President of Business Development at Darden Restaurants, reports the vesting and conversion of restricted stock units into common stock, along with associated tax withholdings.

Summary

• Todd Burrowes, President of Business Development at Darden Restaurants, filed a Form 4 detailing changes in beneficial ownership.
• On July 28, 2024, Burrowes converted 2,717 performance restricted stock units (FY22) into common stock and 2,043 restricted stock units (FY22 Annual Grant) into common stock.
• He also disposed of 804 and 1,070 shares of common stock to satisfy tax withholding obligations at a price of $142.27 per share.
• Following these transactions, Burrowes directly owns 49,063.813 shares of Darden Restaurants common stock, which includes shares acquired through the Employee Stock Purchase Plan and dividend reinvestment.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the trading activities of company executives.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation activities.
• The filing provides transparency to shareholders regarding insider transactions.

Key Dates