8-KEarnings & ResultsLeadership ChangesExhibits & Filings

DARDEN RESTAURANTS INC 8-K Report, Financial Results (Sep 16, 2008)

Filed September 16, 2008For Securities:DRI

Summary

Darden Restaurants, Inc. filed a Form 8-K on September 16, 2008, primarily to report its first-quarter financial results and related events. The company announced its first-quarter diluted net earnings per share and declared a quarterly dividend of 20 cents per share. This filing also details the shareholder approval of the amended Darden Restaurants, Inc. 2002 Stock Incentive Plan at the 2008 Annual Meeting of Shareholders. The amended stock incentive plan, effective upon shareholder approval on September 12, 2008, increases the maximum number of shares authorized for issuance from 9,550,000 to 12,700,000. This plan allows for various stock-based awards to eligible employees, officers, consultants, advisors, and non-employee directors. Investors should note that the financial results themselves are contained within an exhibit (Press Release dated September 16, 2008) and are not deemed 'filed' under Section 18 of the Exchange Act.

Key Highlights

  • 1Darden Restaurants reported its first-quarter diluted net earnings per share.
  • 2The company announced a quarterly dividend of $0.20 per share.
  • 3Shareholders approved the amended Darden Restaurants, Inc. 2002 Stock Incentive Plan at the 2008 Annual Meeting.
  • 4The amended stock incentive plan increases the authorized share pool from 9,550,000 to 12,700,000 shares.
  • 5The amended plan allows for various stock-based awards, including stock options, restricted stock, and dividend equivalents.
  • 6The Compensation Committee of the Board of Directors administers the amended stock incentive plan.
  • 7The financial results are presented in an attached press release and are furnished, not filed, for Section 18 purposes.

Frequently Asked Questions

This 8-K announces Darden Restaurants' first-quarter diluted net earnings per share and declares a quarterly dividend of 20 cents per share. The detailed financial results are provided in the press release furnished as an exhibit, dated September 16, 2008.

Shareholders approved an amendment to the 2002 Stock Incentive Plan. The primary change is an increase in the total number of shares authorized for issuance under the plan, from 9,550,000 to 12,700,000.

The amended plan authorizes grants of stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, stock awards, and other stock-based awards to employees, officers, consultants, advisors, and non-employee directors who provide services to the Company or its affiliates, as determined by the Compensation Committee.

No, the information in Item 2.02 (Results of Operations and Financial Condition), including the attached press release, is furnished and shall not be deemed 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934. It also will not be incorporated by reference into other SEC filings unless expressly stated.