Martin Melvin John 4

What Happened Martin Melvin John, Group President of Darden Restaurants, was awarded 4,650 performance restricted stock units (PSUs) on June 23, 2026. The PSUs are reported as a derivative award with an acquisition price of $0.00 (no cash paid). These PSUs will convert into common shares on a one-for-one basis if earned and vested under the award terms.

Key Details

• Transaction date: June 23, 2026; Form 4 filed June 25, 2026 (timely).
• Transaction type: Award/Grant (derivative) — 4,650 PSUs @ $0.00.
• Shares owned after transaction: Not specified in the filing.
• Notable footnotes from the filing:
  • The award was the result of performance results under a grant originally made July 26, 2023 (4,514 target PSUs) tied to relative total shareholder return; the Compensation Committee determined final results leading to 4,650 PSUs being earned (F2, F4).
  • PSUs convert into common stock on a one-for-one basis (F3).
  • The grant vests in two equal annual installments beginning July 26, 2026 (F5).
  • The filing also notes the company’s Employee Stock Purchase Plan/dividend reinvestment feature in a separate footnote (F1).

Context PSUs are performance-based long-term incentive awards; they do not represent immediately owned shares and will only convert to common stock if the performance and vesting conditions are met. This award reflects the Compensation Committee’s post-performance-period determination rather than an open-market purchase or sale.