DARDEN RESTAURANTS INC 4
4 · DARDEN RESTAURANTS INC · Filed Sep 23, 2016
Insider Transaction Report
Form 4
BLUM BRAD
Director
Transactions
- Exercise/Conversion
Common Stock
2016-09-17+1,922→ 6,508 total - Exercise/Conversion
Restricted Stock Units (FY16 Annual Grant)
2016-09-17−1,922→ 0 total→ Common Stock (1,922 underlying)
Footnotes (3)
- [F1]Restricted stock units convert into common stock on a one-for-one basis.
- [F2]The number of restricted stock units was adjusted in connection with the spin-off (the Spin-Off) of Four Corners Property Trust, Inc. (FCPT) from Darden Restaurants, Inc. (Darden) on November 9, 2015. The adjustment reflects the product of (i) the number of shares subject to the restricted stock unit awards immediately prior to the Spin-Off and (ii) the ratio of (A) the pre-Spin-Off closing price on November 9, 2015 of Darden Common Stock (Darden Pre-Spin-Off Price) and (B) the difference between the Darden Pre-Spin-Off Price and the volume weighted average price of FCPT Common Stock trading on the NYSE on the trading day immediately following the distribution date (adjusted to reflect the Darden-to-FCPT pro rata share distribution ratio in the Spin-Off).
- [F3]The RSUs vest on the first to occur of one year from date of grant and the date of the next annual meeting of shareholders.