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Stock-Based Compensation (Tables)
 12 Months Ended
May 31, 2019
Share-based Payment Arrangement, Noncash Expense [Abstract]  
Assumptions Used to Determine Fair Value of Options
The fair value of options was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions for the fiscal years ended May 31:
 
2019
 
2018
 
2017
 
 
 
 
 
 
Risk-free interest rate
2.7
%
 
1.8
%
 
1.2
%
Dividend yield
1.2
%
 
1.2
%
 
1.3
%
Expected volatility of Cintas' common stock
17.9
%
 
17.2
%
 
21.6
%
Expected life of the option in years
6.0

 
6.5

 
7.5
Stock Options Granted and Outstanding
The information presented in the following table relates primarily to stock options granted and outstanding under either the 2016 Plan or under previously adopted plans:
 
Shares
 
Weighted
Average
Exercise Price
 
 
 
 
Outstanding, June 1, 2016 (1,649,236 shares exercisable)
8,419,907

 
$
61.83

Granted
1,343,180

 
126.51

Canceled
(5,368
)
 
32.45

Forfeited
(165,452
)
 
73.43

Exercised
(1,004,217
)
 
35.95

Outstanding, May 31, 2017 (1,795,898 shares exercisable)
8,588,050

 
74.77

Granted
1,664,867

 
175.86

Canceled
(7,809
)
 
45.10

Forfeited
(255,627
)
 
94.73

Exercised
(1,059,295
)
 
44.06

Outstanding, May 31, 2018 (2,006,922 shares exercisable)
8,930,186

 
96.71

Granted
1,013,005

 
219.37

Canceled
(3,045
)
 
58.03

Forfeited
(397,304
)
 
155.39

Exercised
(1,333,908
)
 
54.14

Outstanding, May 31, 2019 (1,919,976 shares exercisable)
8,208,934

 
$
123.80
Summary of Information Related to Stock Options Outstanding
The following table summarizes the information related to stock options outstanding at May 31, 2019:
 
 
 
Outstanding Options
 
Exercisable Options
Range of
Exercise Prices
Number
Outstanding
 
Average
Remaining
Option
Life
 
Weighted
Average
Exercise
Price
 
Number
Exercisable
 
Weighted
Average
Exercise
Price
$22.61 - $63.45
1,938,231
 
3.96
 
$
49.30

 
1,549,449

 
$
45.75

$63.46 - $108.39
2,516,838
 
6.61
 
96.18

 
335,335

 
84.71

$108.40 - $204.48
1,696,559
 
8.23
 
141.26

 
35,192

 
128.42

$204.49 - $221.83
2,057,306
 
9.52
 
213.39

 
—

 
—

$22.61 - $221.83
8,208,934
 
7.05
 
$
123.80

 
1,919,976

 
$
54.07
Restricted Stock Awards Granted and Outstanding
The information presented in the following table relates to restricted stock awards granted and outstanding under either the 2016 Plan or under previously adopted plans:
 
Shares
 
Weighted
Average
Grant Price
 
 
 
 
Outstanding, unvested grants at June 1, 2016
2,603,436

 
$
75.94

Granted
614,076

 
128.63

Forfeited
(46,766
)
 
81.23

Vested
(428,672
)
 
48.67

Outstanding, unvested grants at May 31, 2017
2,742,074

 
91.91

Granted
669,932

 
183.83

Forfeited
(69,416
)
 
102.96

Vested
(701,476
)
 
64.64

Outstanding, unvested grants at May 31, 2018
2,641,114

 
122.18

Granted
425,614

 
221.27

Forfeited
(109,393
)
 
169.48

Vested
(765,647
)
 
93.37

Outstanding, unvested grants at May 31, 2019
2,191,688

 
$
149.12