Darden CEO Sells Shares Amid Brand Performance Divergence
Ricardo Cardenas, CEO of Darden Restaurants (ticker: DRI), sold 39,134 shares on July 28, 2026 through a cashless exercise of stock options. The transaction resulted in $8.2 million and reduced his direct holdings by 31%, though he still owns over 86,000 shares. The sale occurred as Darden's brands showed mixed performance: LongHorn Steakhouse reported strong same-restaurant sales growth at 9.5%, while Olive Garden lagged with only a 2.4% increase and missed expectations. The company guided for slower blended revenue growth in fiscal 2027, between 2.5% to 3.5%. CEO Cardenas noted the portfolio has become more balanced over seven years. Despite the large share sale, analysts suggest it reflects standard executive compensation behavior rather than a negative outlook on Darden's future performance.
Tickers: $DRI