Renninger Richard L. Form 4 DARDEN RESTAURANTS / Richard L. Renninger ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Renninger Richard L.

(Last) (First) (Middle)

1000 DARDEN CENTER DRIVE

(Street)

ORLANDO FL 32837

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
DARDEN RESTAURANTS INC [ DRI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
SVP, Chief Development Officer

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2019

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/27/2019		M		2,382	A	$0(1)	6,035	D
Common Stock	07/27/2019		M		2,382	A	$0(1)	8,417	D
Common Stock	07/27/2019		F		1,878	D	$125.96	6,539	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Performance Restricted Stock Units (FY17)(2)	(1)	06/18/2019		A		4,480.5(3)		(4)	07/27/2020	Common Stock	4,480.5	$0.0000	4,480.5	D
Performance Restricted Stock Units (FY17)(5)	(1)	06/18/2019		A		4,480.5(3)		(4)	07/27/2020	Common Stock	4,480.5	$0.0000	8,961	D
Performance Restricted Stock Units (FY17)	(1)	07/27/2019		M			2,382(6)	(4)	07/27/2020	Common Stock	2,382	$0.0000	6,579	D
Performance Restricted Stock Units (FY17)	(1)	07/27/2019		M			2,382(6)	(4)	07/27/2020	Common Stock	2,382	$0.0000	4,197	D

Explanation of Responses:

1. Performance restricted stock units convert into common stock on a one-for-one basis.

2. On July 27, 2016, the Reporting Person was awarded 2,987 target performance restricted stock units (PSUs) subject to the achievement of performance criteria (relative total shareholder return as compared to a selected comparison group) from July 27, 2016 through May 26, 2019.

3. On June 18, 2019, the Compensation Committee of the Board of Directors determined the final results under the applicable performance criteria resulting in 4,480.50 PSUs being earned in accordance with the provisions of the applicable award agreement. Pursuant to the terms of the applicable award agreement, additional shares of Darden common stock representing accrued dividend equivalents will be delivered to the Reporting Person upon settlement of the PSUs.

4. This grant vests in two equal annual installments beginning on July 27, 2019.

5. On July 27, 2016, the Reporting Person was awarded 2,987 target performance restricted stock units (PSUs) subject to the achievement of performance criteria (return on invested capital) from May 30, 2016 through May 26, 2019.

6. Each award includes 143 additional shares delivered as dividend equivalents upon settlement pursuant to the terms of the applicable award agreement. Fractional shares are settled in cash pursuant to the terms of the award agreement.

	Jessica P. Lange, Attorney-in-fact for RENNINGER, RICHARD L.	06/03/2020
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
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