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Stock-Based Compensation (Tables) | 9 Months Ended
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Feb. 23, 2025
Share-Based Payment Arrangement [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:
| Nine Months Ended
| February 23, 2025 |  | February 25, 2024
Weighted-average fair value | $ | 44.79 |  | $ | 55.56
Dividend yield | 3.6 | % |  | 3.4 | %
Expected volatility of stock | 40.8 | % |  | 42.2 | %
Risk-free interest rate | 4.1 | % |  | 4.0 | %
Expected option life (in years) | 6.3 |  | 5.9
Weighted-average exercise price per share | $ | 139.43 |  | $ | 169.02
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:
| Nine Months Ended
| February 23, 2025 |  | February 25, 2024
Dividend yield (1) | 0.0 | % |  | 0.0 | %
Expected volatility of stock | 26.5 | % |  | 32.3 | %
Risk-free interest rate | 4.2 | % |  | 4.5 | %
Expected life (in years) | 2.9 |  | 2.9
Weighted-average grant date fair value per unit | $ | 181.65 |  | $ | 217.11
(1)Assumes a reinvestment of dividends.
Schedule of Stock-Based Compensation Activity | The following table presents a summary of our stock-based compensation activity for the nine months ended February 23, 2025.
(in millions) |  | Stock Options |  | Restricted Stock/ Restricted Stock Units |  | Equity-Settled Performance Stock Units |  | Cash-Settled Darden Stock Units
Outstanding beginning of period |  | 1.34 |  |  | 0.26 |  |  | 0.35 |  |  | 0.76 |
Awards granted |  | 0.17 |  |  | 0.08 |  |  | 0.11 |  |  | 0.18 |
Awards granted performance impact |  | — |  |  | — |  |  | 0.02 |  |  | — |
Awards exercised/vested |  | (0.35) |  |  | (0.08) |  |  | (0.15) |  |  | (0.27) |
Awards forfeited |  | — |  |  | — |  |  | — |  |  | (0.02) |
Outstanding end of period |  | 1.16 |  |  | 0.26 |  |  | 0.33 |  |  | 0.65 |
Schedule of Recognized Expense From Stock-Based Compensation | We recognized expense from stock-based compensation as follows:
|  | Three Months Ended |  | Nine Months Ended
(in millions) |  | February 23, 2025 |  | February 25, 2024 |  | February 23, 2025 |  | February 25, 2024
Stock options |  | $ | 1.0 |  |  | $ | 0.9 |  |  | $ | 6.6 |  |  | $ | 5.9 |
Restricted stock/restricted stock units |  | 1.5 |  |  | 1.4 |  |  | 8.4 |  |  | 7.2 |
Equity-settled performance stock units |  | 2.4 |  |  | 1.4 |  |  | 17.2 |  |  | 14.0 |
Cash-settled Darden stock units |  | 9.6 |  |  | 9.1 |  |  | 28.6 |  |  | 26.8 |
Employee stock purchase plan |  | 0.8 |  |  | 0.7 |  |  | 2.4 |  |  | 2.2 |
Director compensation program/other |  | 0.3 |  |  | 0.5 |  |  | 1.3 |  |  | 1.7 |
Total stock-based compensation expense |  | $ | 15.6 |  |  | $ | 14.0 |  |  | $ | 64.5 |  |  | $ | 57.8 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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