Stock-Based Compensation (Tables)

6 Months Ended

Nov. 28, 2021

Share-based Payment Arrangement, Noncash Expense [Abstract]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes option pricing model for options granted during the periods presented, were as follows:

	Six Months Ended
	November 28, 2021			November 29, 2020
Weighted-average fair value	$	41.02		$	20.07
Dividend yield	3.2		%	3.0		%
Expected volatility of stock	39.6		%	37.3		%
Risk-free interest rate	0.9		%	0.4		%
Expected option life (in years)	6.3			6.4
Weighted-average exercise price per share	$	148.20		$	78.84

The weighted-average grant date fair value of market-based performance stock units and the related assumptions used in the Monte Carlo simulation to record stock-based compensation for units granted during the periods presented, were as follows:

	Six Months Ended
	November 28, 2021			November 29, 2020
Dividend yield (1)	0.0		%	0.0		%
Expected volatility of stock	53.4 %			50.5 %
Risk-free interest rate	0.4 %			0.1 %
Expected life (in years)	2.8			2.8
Weighted-average grant date fair value per unit	$	172.34		$	83.46

(1)Assumes a reinvestment of dividends.

Schedule of Nonvested Share Activity

The following table presents a summary of our stock-based compensation activity for the six months ended November 28, 2021.

(in millions)	Stock Options	Restricted Stock/ Restricted Stock Units	Equity-Settled Performance Stock Units	Cash-Settled Darden Stock Units
Outstanding beginning of period	2.15	0.26	0.48	0.80
Awards granted	0.15	0.05	0.09	0.31
Awards exercised/vested	(0.36)	(0.06)	(0.15)	(0.22)
Awards forfeited	—	—	—	(0.04)
Outstanding end of period	1.94	0.25	0.42	0.85

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

We recognized expense from stock-based compensation as follows: 

	Three Months Ended				Six Months Ended
(in millions)	November 28, 2021		November 29, 2020		November 28, 2021		November 29, 2020
Stock options	$	1.1	$	2.8	$	4.5	$	4.5
Restricted stock/restricted stock units	1.2		3.0		5.0		5.8
Equity-settled performance stock units	2.3		5.1		10.5		10.7
Cash-settled Darden stock units	4.9		10.4		16.2		18.4
Employee stock purchase plan	0.6		0.6		1.3		1.3
Director compensation program/other	0.4		0.3		0.6		0.7
Total stock-based compensation expense	$	10.5	$	22.2	$	38.1	$	41.4