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Olive Garden owner Darden executive sells shares after option exercise
The sale followed the exercise of options with a $124.24 strike price, converting them to common stock before selling at a $208.33 weighted average.
Darden Restaurants executive Jonathan Ponciano, president of Olive Garden, sold 8,864 shares of Darden common stock on August 5 at a weighted-average price of $208.33 per share, according to a Yahoo Finance summary of an SEC Form 4 filing.
The transaction was an exercise-and-sell, where Wilkerson converted vested stock options with an exercise price of $124.24 into common stock before immediately selling the shares.
After the sale, he still held 18,793 shares directly and 614 shares indirectly through a 401(k) plan, for a total equity position valued at $4.05 million based on the August 5 market close.
Yahoo Finance also noted the trade took place as Darden had a one-year total return of 2% as of August 5.