Darden Restaurants’ chief people officer reduced direct holdings by 85% while maintaining derivative exposure amid a $24.3 billion market cap.
Darden Restaurants Inc. (NYSE:DRI) executive Sarah H. King sold 4,373 shares on July 29 at a weighted average price of $210.42, according to an SEC filing. The sale reduced her direct ownership to 742 shares, an 85% liquidation of her common stock position.
The transaction occurred as DRI traded near a $212.23 close, with the stock delivering a 5% one-year total return. The company’s market capitalization stands at $24.3 billion, with trailing 12-month revenue of $13.2 billion and net income of $1.2 billion.
King retains derivative securities, preserving long-term equity exposure despite the reduced direct share count.