Darden CEO Sells Shares Amid Divergent Brand Performance
Ricardo Cardenas, CEO of Darden Restaurants (NYSE:DRI), sold 39,134 shares on July 28, 2026 via a cashless exercise of stock options. The transaction reduced his direct holdings by 31%, though he still owns over $17 million worth of company stock and additional derivative securities. The sale occurred as Darden's brands showed mixed performance: LongHorn Steakhouse reported strong same-restaurant sales growth of 9.5%, while Olive Garden, the chain’s largest brand at 42% of total revenue, only managed a modest 2.4% increase—below expectations. Management has guided for slower blended growth in fiscal 2027. Despite Cardenas’ sale being part of standard compensation management and not necessarily indicative of future performance concerns, investors are watching Olive Garden’s slowdown closely due to its significant contribution to Darden's revenue.
Tickers: $DRI
Topics: Darden Restaurants Ricardo Cardenas SEC Form 4 filing stock options