Darden Restaurants CEO sold shares after exercising options at a $124.24 strike price, locking in gains amid a 2% stock rise over 12 months.
Darden Restaurants CEO Ricardo Cardenas sold 39,134 shares on July 28 at a weighted average price of $209.06, following the exercise of stock options struck at $124.24. The transaction reduced his direct holdings but left him with 86,145 shares and additional derivative securities.
The sale occurred as Darden’s stock closed at $212.23 on July 29, reflecting a 2% gain over the past 12 months. The company operates 2,200 restaurants, including Olive Garden and LongHorn Steakhouse, with revenue driven by full-service dining operations.
The filing noted the CEO’s immediate disposal of shares post-exercise, a move that captures the spread between the strike price and market value without altering his significant equity stake.