Form 4: Darden Restaurants Inc. Executive Matthew R. Broad Reports Stock Transactions

SVP General Counsel Matthew R. Broad reports the vesting and sale of Darden Restaurants Inc. stock and stock units.

Summary

• Matthew R. Broad, SVP General Counsel of Darden Restaurants Inc., reported several transactions involving the company's stock on July 28 and July 29, 2024.
• These transactions include the conversion of performance restricted stock units and restricted stock units into common stock, as well as the sale and gifting of common stock.
• On July 28, 2024, 2,264 performance restricted stock units and 1,703 restricted stock units vested and converted into common stock.
• Also on July 28, 2024, 671 shares were disposed of to cover tax obligations at a price of $142.27 per share, and 891 shares were disposed of to cover tax obligations at a price of $142.27 per share.
• On July 29, 2024, 300 shares of common stock were gifted and 5,171 shares were sold at a weighted average price of $146.4761.
• Following these transactions, Broad directly owns 16,155.43 shares of Darden Restaurants Inc. common stock and 2,265 performance restricted stock units.
• The reported transactions also include shares acquired through the Darden Restaurants, Inc. Employee Stock Purchase Plan and dividend reinvestment feature of the Plan.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock transactions, which carries a neutral sentiment.

Industry Context

This filing is a routine disclosure of stock transactions by a company executive, which is common in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership by an executive.
• The transactions are part of the executive's compensation and may impact employee morale.

Key Dates