SVP Sells $2.05M in Stock Following Option Exercise
DRI sits 19% above its 52-week low of $169.
Summary
Susan M. Connelly, SVP at Darden Restaurants, sold $2.05 million worth of common stock after exercising options.
Key Events · Ownership and Investor Activity · DRI
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SVP Stock Sale
Susan M. Connelly, SVP, Chief Comm & PA Officer, sold 9,930 shares of common stock for a total of $2,047,676.22 at an average price of $206.21 per share.
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Option Exercise
The sale followed the exercise of options to acquire 9,930 shares at strike prices ranging from $121.47 to $148.20, totaling $1,301,291.07.
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Insider Distribution Trend
This transaction contributes to a pattern of insider selling at Darden Restaurants, with net insider sales exceeding $2.7 million in the last 90 days.
Analysis · DRI · Trade & Services
This Form 4 filing indicates a significant sale of company stock by a Senior Vice President. While the transaction involves an option exercise, the subsequent open market sale of over $2 million represents a substantial personal liquidity event for the executive. This adds to the recent trend of insider distribution, as noted in the 90-day insider activity.
At the time of this filing, DRI was trading at $201.10 on NYSE in the Trade & Services sector, with a market capitalization of approximately $23B. The 52-week trading range was $169.00 to $220.65. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.