Form 4: Darden Restaurants SVP Douglas J. Milanes Reports Stock Transactions

Douglas J. Milanes, SVP and Chief Supply Chain Officer of Darden Restaurants, reports the vesting and conversion of performance restricted stock units into common stock, along with a disposition of shares to cover tax obligations.

Summary

• On July 29, 2024, Douglas J. Milanes, SVP, Chief Supply Chain Officer of Darden Restaurants, exercised performance restricted stock units (FY21) converting them into 3,029 shares of common stock.
• The conversion occurred at a price of $0 per share.
• Milanes also disposed of 1,023 shares of common stock at a price of $142.27 to satisfy tax obligations.
• Following these transactions, Milanes directly owns 9,534.994 shares of Darden Restaurants common stock, which includes shares acquired through the Employee Stock Purchase Plan and dividend reinvestment.

Sentiment

Score: 5

Explanation: This is a neutral report on stock transactions by an executive, with no inherent positive or negative implications for the company's performance.

Industry Context

This Form 4 filing is a routine disclosure of insider transactions, providing transparency to investors regarding the actions of company executives. It is a standard practice for publicly traded companies.

Stakeholder Impact

• The transaction has a minor impact on shareholders as it involves the conversion of existing equity awards and a small sale of shares for tax purposes.

Key Dates