Darden Restaurants Chief People Officer Sarah H. King sold 4,373 shares on July 29, reducing her direct common stock holdings by 85% to just 742 shares. The transaction was valued at $920,200 based on a weighted average sale price of $210.42, slightly below the market close of $212.23. King retains additional derivative securities, including restricted stock units and stock options, maintaining exposure to the company's equity performance. The sale comes as Darden, with a market capitalization of $24.3 billion, reported trailing 12-month revenue of $13.2 billion and net income of $1.2 billion, but issued a cautious forward outlook that disappointed analysts.
Darden Restaurants IncInsider sale by CPO reduces holdings, signaling potential lack of confidence, while cautious outlook disappoints.
