Home / Business and Economy / Darden CEO Cashes Out $8M in Stock Options
Darden CEO Cashes Out $8M in Stock Options
31 Jul
Summary
- Darden CEO exercised 39,134 stock options at $124.24.
- He sold shares for $209.06, realizing significant profit.
- His direct holdings reduced by 31% but remain substantial.
On July 28, 2026, Ricardo Cardenas, President and CEO of Darden Restaurants, Inc. (NYSE:DRI), executed a significant stock transaction. He engaged in a cashless exercise of 39,134 stock options, which had a strike price of $124.24 per share. This allowed him to immediately realize the financial spread between the option's exercise price and the market value.
The shares were sold at an execution price of $209.06, generating substantial value for the executive. This transaction led to a 31% reduction in Cardenas's direct equity holdings. However, he still maintains a considerable stake in the company, holding 86,145 shares directly, in addition to other derivative securities.
Darden Restaurants operates a wide array of dining establishments across the United States and Canada. Its portfolio includes well-known brands such as Olive Garden, LongHorn Steakhouse, and Capital Grille. The company focuses on a multi-brand strategy to cater to diverse customer segments and dining occasions.
