Darden (DRI) Director Daryl Kenningham Receives and Converts RSUs

What Happened

• Daryl Kenningham, a director of Darden Restaurants, was awarded 150 restricted stock units (RSUs) that converted one-for-one into 150 common shares on August 30, 2026. The Form 4 also reports an exercise/conversion of a derivative for 150 shares and a contemporaneous disposition of 150 shares. All transactions show a price of $0.00 and therefore no cash value is reported on the filing.

Key Details

• Transaction date: 2026-08-30; reported prices: $0.00 for each line (acquisitions and disposition).
• Shares involved: 150 RSUs awarded/converted to 150 common shares; 150 shares reported as disposed.
• Shares owned after transaction: Not specified in the filing.
• Footnotes from the filing:
  • F1: RSUs convert into common stock on a one-for-one basis.
  • F2: The award includes FY26 and FY27 director compensation.
  • F3: The reporting person elected to receive the quarterly cash retainer as RSUs which settle immediately.
• Filing timeliness: No late filing indicated in the provided data.

Context

• This appears to be routine director compensation: the director elected to take cash retainer as RSUs that settled immediately and converted to common shares. The $0.00 price on the disposition line means no cash proceeds are reported on the Form 4; such entries can reflect net settlement or other non-cash transfers (e.g., withholding), though the filing does not specify the reason. Purchases or meaningful open-market buys generally carry more weight for signaling than routine compensation awards.