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STOCK-BASED COMPENSATION | 9 Months Ended
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Feb. 29, 2024
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
STOCK-BASED COMPENSATION |
NOTE 6 — STOCK-BASED COMPENSATION
STOCK-BASED COMPENSATION The NIKE, Inc. Stock Incentive Plan (the "Stock Incentive Plan") provides for the issuance of up to 798 million previously unissued shares of Class B Common Stock in connection with equity awards granted under the Stock Incentive Plan. The Stock Incentive Plan authorizes the grant of non-statutory stock options, incentive stock options, stock appreciation rights and stock awards, including restricted stock and restricted stock units. Restricted stock units include both time-vesting restricted stock units ("RSUs") as well as performance-based restricted stock units ("PSUs"). In addition to the Stock Incentive Plan, the Company gives employees the right to purchase shares at a discount from the market price under employee stock purchase plans ("ESPPs"). For additional information, refer to Note 9 — Common Stock and Stock-Based Compensation within the Annual Report. The following table summarizes the Company's total stock-based compensation expense recognized in Cost of sales or Operating overhead expense, as applicable:
| THREE MONTHS ENDED |  | NINE MONTHS ENDED
(Dollars in millions) | FEBRUARY 29, 2024 | FEBRUARY 28, 2023 |  | FEBRUARY 29, 2024 | FEBRUARY 28, 2023
Stock options(1) | $ | 89 |  | $ | 78 |  |  | $ | 253 |  | $ | 232 |
ESPPs | 17 |  | 20 |  |  | 55 |  | 53 |
Restricted stock and restricted stock units(2) | 110 |  | 94 |  |  | 310 |  | 271 |
TOTAL STOCK-BASED COMPENSATION EXPENSE | $ | 216 |  | $ | 192 |  |  | $ | 618 |  | $ | 556 |
(1)Expense for stock options includes the expense associated with stock appreciation rights. (2)Restricted stock units include RSUs and PSUs. The income tax benefit related to stock-based compensation expense was $12 million and $22 million for the three months ended February 29, 2024 and February 28, 2023, respectively, and $30 million and $44 million for the nine months ended February 29, 2024 and February 28, 2023, respectively, and reported within Income tax expense. STOCK OPTIONS As of February 29, 2024, the Company had $478 million of unrecognized compensation costs from stock options, net of estimated forfeitures, to be recognized in Cost of sales or Operating overhead expense, as applicable, over a weighted average remaining period of 2.6 years. RESTRICTED STOCK AND RESTRICTED STOCK UNITS As of February 29, 2024, the Company had $699 million of unrecognized compensation costs from restricted stock and restricted stock units, net of estimated forfeitures, to be recognized in Cost of sales or Operating overhead expense, as applicable, over a weighted average remaining period of 2.5 years.

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