Darden (DRI) SVP/CFO Rajesh Vennam Converts RSUs, Withholds 5,153 Shares

What Happened

• Rajesh Vennam, SVP and Chief Financial Officer of Darden Restaurants (DRI), converted/ exercised restricted and performance-based equity into common stock (total reported conversions: 13,090 shares). To satisfy tax-withholding obligations, 5,153 shares were surrendered (disposed) at a reported withholding price of $196.31 per share, totaling approximately $1,011,585. The conversions occurred on July 26–27, 2026; the withheld-share transactions are coded as tax-withholding (F) rather than open-market sales.

Key Details

• Transaction types: M = exercise/conversion of derivative/RSU; F = payment of exercise price or tax liability (share withholding).
• Conversion (acquired) totals reported: 2,945 + 2,859 + 7,286 = 13,090 shares (dates 7/26–7/27; exercise price reported $0.00 — consistent with RSU/performance-RSU vesting).
• Withheld shares to cover taxes (disposed): 1,126 + 1,159 + 2,868 = 5,153 shares at $196.31 each = $1,011,585 (approx).
• Net shares delivered to the insider after withholding: roughly 13,090 − 5,153 = 7,937 shares (based on reported conversions and withholdings).
• Footnotes: performance RSUs and restricted RSUs convert one-for-one to common stock (F1, F3). Some grants referenced vest in two equal annual installments beginning July 26, 2026 (F4, F5). Footnote F2 notes ESPP/dividend reinvestment holdings are included elsewhere.
• Filing timeliness: filing was made on 2026-07-29 covering transactions dated 7/26–7/27; no late-filing flag was provided in the summary data here (check the full Form 4 for any timeliness indicator and exact post-transaction beneficial holdings).

Context

• This appears to be a routine vest-and-withhold event (RSU/performance-RSU conversion with shares withheld to cover tax obligations), not an open-market sale that would typically be interpreted as a directional bet. The $196.31 figure is the per-share value used for withholding calculation; withheld shares are recorded as disposals for tax purposes.
• For retail investors: such conversions are common compensation events for executives. They provide information about equity compensation recognized and the magnitude of withholding, but they do not necessarily indicate the insider is reducing their overall exposure via open-market selling. Check the full Form 4 for the insider’s total holdings after these transactions if you need to know his ongoing stake.