DARDEN RESTAURANTS INC — fact timeline

DARDEN RESTAURANTS INC updated its third quarter ended February 22, 2026 guidance (reaffirmed).

“Darden Restaurants Reports Fiscal 2026 Third Quarter Results; Declares Quarterly Dividend; And Updates Fiscal 2026 Financial Outlook”

John Wilkerson was appointed as President, Olive Garden at DARDEN RESTAURANTS INC.

“the Company’s Board of Directors approved the appointment of John Wilkerson, currently the Company’s President, Cheddar’s Scratch Kitchen, to the office of President, Olive Garden, effective September 1, 2025.”

Dan Kiernan retired as President, Olive Garden at DARDEN RESTAURANTS INC.

“Dan Kiernan, the Company’s President, Olive Garden, notified the Company of his intent to retire.”

Nana Mensah retired as Member of the Board of Directors at DARDEN RESTAURANTS INC.

“On January 27, 2025, Nana Mensah, a member of the Board of Directors (the “Board”) of Darden Restaurants, Inc. (the “Company”), notified the Company of his decision to retire from the Board effective January 28, 2025.”

Todd A. Burrowes was appointed as President, Business Development at DARDEN RESTAURANTS INC.

“On April 2, 2024, the Board of Directors of Darden Restaurants, Inc. (the Company) approved the appointment of Todd A. Burrowes, currently the Company’s President, LongHorn Steakhouse, to the office of President, Business Development effective May 27, 2024.”

DARDEN RESTAURANTS INC reported fiscal 2024 results: EPS $8.80 to $8.90. Guidance reaffirmed.

“Adjusted diluted net earnings per share from continuing operations of $8.80 to $8.90, excluding approximately $0.35, after-tax, of Ruth's Chris transaction and integration related costs”

DARDEN RESTAURANTS INC reported financial results for the third quarter ended February 25, 2024.

“Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the third quarter ended February 25, 2024.”

DARDEN RESTAURANTS INC reported the second quarter ended November 26, 2023 results: revenue $2.7 billion, EPS $1.76.

“Second Quarter 2024 Financial Highlights, Comparisons Versus Same Fiscal Quarter Last Year • Total sales increased 9.7% to $2.7 billion”

DARDEN RESTAURANTS INC incurred credit facility of $1,250,000,000 with Bank of America, N.A., as administrative agent, and the lenders at Interest rates on borrowings under the Credit Agreement will be based on prevail maturing The Credit Agreement matures on October 23, 2028.

“On October 23, 2023, Darden Restaurants, Inc. (“we,” “us” or the “Company”) entered into a $1,250,000,000 Revolving Credit Agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, and the lenders (the “Lenders”) and other agents party thereto.”

DARDEN RESTAURANTS INC terminated Prior Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders party to the Prior Credit Agreement valued at $1,000,000,000 (effective 2023-10-23).

“On October 23, 2023, upon effectiveness of the Credit Agreement described under Item 1.01 above, the Company terminated its prior $1,000,000,000 credit agreement, dated as of September 10, 2021 and amended as of May 21, 2023 (the “Prior Credit Agreement”), by and among us, Bank of America, N.A., as administrative agent, and the lenders party to the Prior Credit Agreement.”

DARDEN RESTAURANTS INC entered into Revolving Credit Agreement with Bank of America, N.A., as administrative agent, and the lenders party thereto valued at $1,250,000,000 (effective 2023-10-23).

“On October 23, 2023, Darden Restaurants, Inc. (“we,” “us” or the “Company”) entered into a $1,250,000,000 Revolving Credit Agreement (the “Credit Agreement”) with Bank of America, N.A., as administrative agent, and the lenders (the “Lenders”) and other agents party thereto.”

DARDEN RESTAURANTS INC shareholders rejected Shareholder proposal requesting that the Company issue a report on the risks arising from state policies restricting reproductive health care at the 2023-09-20 meeting.

“Did not approve the shareholder proposal requesting that the Company issue a report on the risks arising from state policies restricting reproductive health care. For 9,079,027 Against 88,810,954 Abstain 2,467,004 Broker Non-Vote 10,736,439”

DARDEN RESTAURANTS INC shareholders rejected Shareholder proposal requesting that the Company issue greenhouse gas reduction targets at the 2023-09-20 meeting.

“Did not approve the shareholder proposal requesting that the Company issue greenhouse gas reduction targets. For 23,108,509 Against 75,258,957 2 Abstain 1,989,519 Broker Non-Vote 10,736,439”

DARDEN RESTAURANTS INC shareholders approved Ratification of KPMG LLP as independent registered public accounting firm for fiscal year ending May 26, 2024 at the 2023-09-20 meeting.

“Ratified the appointment of KPMG LLP as the Company's independent registered public accounting firm for the fiscal year ending May 26, 2024. For 107,005,038 Against 3,892,685 Abstain 195,701 Broker Non-Vote 0”

DARDEN RESTAURANTS INC shareholders approved Advisory vote on the frequency of future advisory votes on executive compensation at the 2023-09-20 meeting.

“Approved a resolution providing an advisory vote on the frequency of future advisory votes on executive compensation. One Year 98,479,175 Two Years 201,953 Three Years 1,426,607 Abstain 249,250 Broker Non-Vote 10,736,439”

DARDEN RESTAURANTS INC shareholders approved Advisory approval of the Company's executive compensation at the 2023-09-20 meeting.

“Approved a resolution providing advisory approval of the Company's executive compensation. For 96,513,092 Against 3,447,881 Abstain 396,012 Broker Non-Vote 10,736,439”

DARDEN RESTAURANTS INC shareholders approved Election of 9 directors at the 2023-09-20 meeting.

“Elected the following 9 directors to serve until the next annual meeting of shareholders or until his or her successor is elected and qualified. Nominees For Withheld Broker Non-Vote Margaret Shân Atkins 98,517,598 1,839,387 10,736,439 Ricardo Cardenas 99,438,304 918,681 10,736,439 Juliana L. Chugg 98,534,799 1,822,186 10,736,439 James P. Fogarty 98,536,821 1,820,164 10,736,439 Cynthia T. Jamison 98,176,441 2,180,544 10,736,439 Nana Mensah 99,148,609 1,208,376 10,736,439 William S. Simon 96,228,869 4,128,116 10,736,439 Charles M. Sonsteby 95,632,253 4,724,732 10,736,439 Timothy J. Wilmott 99,237,488 1,119,497 10,736,439”

DARDEN RESTAURANTS INC reported fourth quarter and fiscal year ended May 28, 2023 results: revenue $2.8 billion, EPS $2.58.

“today reported its financial results for the fourth quarter and fiscal year ended May 28, 2023. Fourth Quarter 2023 Financial Highlights • Total sales increased 6.4% to $2.8 billion driven by a blended same-restaurant sales increase of 4.0% and sales from 47 net new restaurants • Same-restaurant sales: Consolidated Darden 4.0% Olive Garden 4.4% LongHorn”

Eugene I. Lee, Jr. departed as Chairman of the Board at DARDEN RESTAURANTS INC.

“On June 20, 2023, Eugene I. Lee, Jr., a director and Chairman of the Board of Directors of the Company (the Board), informed the Board that he will not stand for re-election to the Board at the Company’s 2023 annual meeting of shareholders and that he will retire from service as a director of the Company at the end of the 2023 annual meeting of shareholders, scheduled for September 20, 2023.”

DARDEN RESTAURANTS INC completed an acquisition involving Ruth's Hospitality Group, Inc. for $21.50 per Share (closed 2023-06-14).

“a tender offer (the “ Offer ”) to purchase all of the issued and outstanding shares of common stock, par value $0.01 per share, of the Company (the “ Shares ”) at a price of $21.50 per Share (the “ Merger Consideration ”), in cash, without interest (but subject to applicable withholding). The Offer was not extended and the Offer and related withdrawal rights”

DARDEN RESTAURANTS INC incurred term loan of $600,000,000 with Bank of America, N.A., as administrative agent maturing 3-year.

“On June 14, 2023, Parent borrowed $600,000,000 under the Term Loan Agreement to fund a portion of the consideration paid to purchase the Shares in connection with the Offer and the Merger.”

DARDEN RESTAURANTS INC entered into Term Loan Agreement with Bank of America, N.A., as administrative agent, the lenders and other agents party thereto valued at $600,000,000 (effective 2023-06-14).

“On June 14, 2023, Parent borrowed $600,000,000 under the Term Loan Agreement to fund a portion of the consideration paid to purchase the Shares in connection with the Offer and the Merger.”

DARDEN RESTAURANTS INC incurred term loan of $600 million with Bank of America, N.A., as administrative agent at Term SOFR-based interest rate maturing third anniversary of the Funding Date.

“On May 31, 2023 (the “Closing Date”), the Company entered into a senior unsecured $600 million 3-year Term Loan Credit Agreement (the “Term Loan Agreement”) with Bank of America, N.A., as administrative agent”

DARDEN RESTAURANTS INC entered into Term Loan Agreement with Bank of America, N.A., as administrative agent, the lenders (the 'Term Loan Lenders') and other agents party thereto valued at $600 million (effective 2023-05-31).

“On May 31, 2023 (the “Closing Date”), the Company entered into a senior unsecured $600 million 3-year Term Loan Credit Agreement (the “Term Loan Agreement”) with Bank of America, N.A., as administrative agent, the lenders (the “Term Loan Lenders”) and other agents party thereto”

DARDEN RESTAURANTS INC amended Amendment No. 1 with Bank of America, N.A., as administrative agent, the lenders (the 'Credit Agreement Lenders') and other agents party thereto (effective 2023-05-31).

“Effective May 31, 2023, Darden Restaurants, Inc. (“we,” “us” or the “Company”) entered into Amendment No. 1 (the “Amendment”) to the Company’s existing $1,000,000,000 Revolving Credit Agreement dated as of September 10, 2021 (the Credit Agreement”), with Bank of America, N.A., as administrative agent (the “Agent”), the lenders (the “Credit Agreement Lenders”) and other agents party thereto.”

DARDEN RESTAURANTS INC entered into Agreement and Plan of Merger with Ruth's Hospitality Group, Inc. valued at $21.50 per Share (effective 2023-05-02).

“On May 2, 2023, Darden Restaurants, Inc., a Florida corporation (“ Parent ”), and Ruth’s Hospitality Group, Inc., a Delaware corporation (the “ Company ”), announced the execution of an Agreement and Plan of Merger (the “ Merger Agreement ”) among Parent, Ruby Acquisition Corporation, a Delaware corporation and an indirect, wholly owned subsidiary of Parent (“ Merger Sub ”), and the Company.”

DARDEN RESTAURANTS INC reported the third quarter ended February 26, 2023 results: revenue $2.8 billion, EPS $2.34.

“Third Quarter 2023 Financial Highlights • Total sales increased 13.8% to $2.8 billion driven by a blended same-restaurant sales increase of 11.7% and sales from 35 net new restaurants • Same-restaurant sales: Consolidated Darden 11.7% Olive Garden 12.3% LongHorn Steakhouse 10.8% Fine Dining 11.7% Other Business 11.7% • Reported diluted net earnings per share increased 21.2% to $2.34 as compared to last year's reported diluted net earnings per share”

DARDEN RESTAURANTS INC reported the second quarter ended November 27, 2022 results: revenue $2.49 billion, net income $1.52, EPS $1.52.

“Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the second quarter ended November 27, 2022. Second Quarter 2023 Financial Highlights • Total sales increased 9.4% to $2.49 billion driven by a blended same-restaurant sales increase of 7.3% and sales from 35 net new restaurants • Same-restaurant sales: Consolidated Darden 7.3% Olive Garden 7.6% LongHorn Steakhouse 7.3% Fine Dining 5.9% Other Business 7.1% • Reported diluted net earnings per share increased 2.7% to $1.52”

Eugene I. Lee, Jr. was appointed as Executive Chairman at DARDEN RESTAURANTS INC.

“the Company also announced that Mr. Eugene I. Lee, Jr. would retire as Chief Executive Officer effective May 29, 2022 and was appointed by the Board to serve as Executive Chairman of the Company effective May 30, 2022.”

Ricardo Cardenas was appointed as President and Chief Executive Officer at DARDEN RESTAURANTS INC.

“the Company announced that Mr. Ricardo Cardenas, the Company’s current President and Chief Operating Officer, was appointed by the Board of Directors of the Company (the Board) to serve as President and Chief Executive Officer of the Company effective May 30, 2022.”

Juliana L. Chugg was elected as director at DARDEN RESTAURANTS INC.

“On March 22, 2022, the Board of Directors (the “Board”) of Darden Restaurants, Inc. (the “Company”) increased the number of directors of the Company from eight to nine, and elected Juliana L. Chugg to serve as a director, effective immediately”

Ricardo Cardenas was elected as Director at DARDEN RESTAURANTS INC.

“the Board voted to increase the number of directors of the Company to nine and elected Mr. Cardenas as a director, all effective May 30, 2022.”

Ricardo Cardenas was appointed as President and CEO at DARDEN RESTAURANTS INC.

“the Board appointed President and Chief Operating Officer Ricardo Cardenas to serve as the Company’s President and CEO beginning on May 30, 2022.”

Eugene I. Lee, Jr. changed role as Executive Chairman at DARDEN RESTAURANTS INC.

“Eugene I. Lee, Jr., Chairman and Chief Executive Officer (CEO) of Darden Restaurants, Inc. (the Company), informed the Board of Directors (Board) of the Company of his intention to retire as CEO effective May 29, 2022.”