Form 4: Darden Restaurants SVP, Corporate Controller, John W. Madonna, Executes Stock Option and Sells Shares
SEC Form 4 Filing
John W. Madonna, SVP, Corporate Controller of Darden Restaurants, exercised stock options and sold shares on September 24, 2024.
Summary
- On September 24, 2024, John W. Madonna, SVP, Corporate Controller of Darden Restaurants, exercised stock options to acquire 4,735 shares of common stock at a price of $107.05 per share.
- Simultaneously, Madonna sold 4,735 shares of common stock at a weighted average price of $172.9588, with individual sales prices ranging from $172.59 to $173.2295.
- Following these transactions, Madonna directly owns 9,160.783 shares of Darden Restaurants common stock, which includes shares acquired through the Employee Stock Purchase Plan and dividend reinvestments.
- The stock option exercised vested in two equal annual installments beginning on July 25, 2021.
- The reporting person has undertaken to provide full information regarding the number of shares and prices at which the transaction was effected, upon request to the SEC staff, the Issuer or a security holder of the Issuer.
Sentiment
Score: 5
Explanation: This is a neutral disclosure of insider trading activity, with no inherent positive or negative implications for the company's overall performance.
Industry Context
This filing is a routine disclosure of insider trading activity. It provides transparency into the actions of company executives regarding their holdings of company stock. It is common for executives to exercise stock options and sell shares for personal financial management.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The information provided is consistent with SEC regulations and reporting requirements.
- Comparable companies would have similar filings when their executives trade company stock.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It provides transparency to shareholders regarding executive stock transactions.
Key Dates
| Date | Description |
|---|---|
| 07/25/2021 | Stock option vested in two equal annual installments beginning on this date. |
| 07/25/2028 | Expiration date of the stock option. |
| 09/24/2024 | Date of stock option exercise and share sale. |
| 09/26/2024 | Date of signature on the Form 4 filing. |
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