Stock-Based Compensation (Tables)

12 Months Ended

May 28, 2016

Valuation and Qualifying Accounts Disclosure

Schedule of Pre-Tax Compensation Expense and Related Tax Benefits

Pre-tax compensation expense and the related income tax benefit for all types of stock-based programs was as follows for the periods indicated:



(In millions)	May 28, 2016		May 30, 2015		May 31, 2014
Employee stock purchase program	$	0.3	$	0.3	$	0.3
Stock option plans	1.9		2.6		2.3
Restricted stock grants	—		0.1		0.2
Restricted stock units	3.2		3.7		5.2
Performance share units	6.5		3.3		3.0
Total	$	11.9	$	10.0	$	11.0

Tax benefit	$	4.3	$	3.6	$	4.0

Schedule of Fair Value of Employee Stock Options

The company estimated the fair value of employee stock options on the date of grant using the Black-Scholes model. In determining these values, the following weighted-average assumptions were used for the options granted during the fiscal years indicated.



	2016		2015		2014
Risk-free interest rates ⁽¹⁾	1.51	%	1.46	%	1.62	%
Expected term of options ⁽²⁾	4.0 years		4.0 years		5.5 years
Expected volatility ⁽³⁾	33	%	36	%	46	%
Dividend yield ⁽⁴⁾	2.03	%	1.85	%	1.74	%
Weighted-average grant-date fair value of stock options:
Granted with exercise prices equal to the fair market value of the stock on the date of grant	6.73		7.74		10.68

(1) Represents the U.S. Treasury yield over the same period as the expected option term.

(2) Represents the period of time that options granted are expected to be outstanding. Based on analysis of historical option exercise activity, the company has determined that all employee groups exhibit similar exercise and post-vesting termination behavior.

(3) Amount is determined based on analysis of historical price volatility of the company's common stock over a period equal to the expected term of the options.

(4) Represents the company's estimated cash dividend yield over the expected term of options.

Schedule of Stock Option Plan Transactions

The following is a summary of the transactions under the company's stock option plans:



	Shares Under Option		Weighted-Average Exercise Prices		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Outstanding at May 30, 2015	1,302,623		$	26.05	4.0	$	4.7
Granted at market	91,070		$	29.03
Exercised	(288,470	)	$	23.15
Forfeited or expired	(183,843	)	$	33.33
Outstanding at May 28, 2016	921,380		$	25.80	4.2	5.5
Ending vested + expected to vest	921,380		$	25.80	4.2	$	5.5
Exercisable at end of period	764,060		$	25.06	3.3	$	5.1

Schedule of Restricted Stock Grants

The company recognizes the related compensation expense on a straight-line basis over the requisite service period. A summary of shares subject to restrictions are as follows:



	2016
	Shares		Weighted Average Grant-Date Fair Value
Outstanding at May 30, 2015	50,323		$	20.80
Granted	—		$	—
Vested	(28,500	)	$	20.37
Forfeited	(1,000	)	$	21.71
Outstanding at May 28, 2016	20,823		$	21.35

Schedule of Restricted Stock Unit (RSU) Activity

The following is a summary of restricted stock unit transactions for the fiscal years indicated:



	Share Units		Weighted Average Grant-Date Fair Value		Aggregate Intrinsic Value in Millions		Weighted-Average Remaining Contractual Term (Years)
Outstanding at May 30, 2015	505,472		$	24.21	$	13.5	1.2
Granted	110,176		$	29.03
Forfeited	(17,321	)	$	27.09
Released	(220,466	)	$	19.97
Outstanding at May 28, 2016	377,861		$	27.83	$	12.0	1.4
Ending vested + expected to vest	377,861		27.83		$	10.8	1.4

Schedule of Performance-based Stock Units (PSU) Activity

The following is a summary of performance share unit transactions for the fiscal years indicated:



	Share Units		Weighted Average Grant-Date Fair Value		Aggregate Intrinsic Value in Millions		Weighted-Average Remaining Contractual Term (Years)
Outstanding at May 30, 2015	356,906		$	29.17	$	9.9	1.3
Granted	154,621		$	30.81
Forfeited	(21,988	)	$	20.64
Released	(55,825	)	$	17.10
Outstanding at May 28, 2016	433,714		$	31.74	$	13.7	1.2
Ending vested + expected to vest	433,714		$	31.74	$	13.7	1.2

Schedule of Director Share Based Compensation

The exercise price of the stock options granted may not be less than the market price of the company's common stock on the date of grant. Under the plan, the Board members received the following shares or options in the fiscal years indicated:



	2016	2015	2014
Shares of common stock	21,988	13,752	12,358
Shares through the deferred compensation program	3,118	—	2,317

Herman Miller Consumer Holdings Inc [Member]

Valuation and Qualifying Accounts Disclosure

Schedule of Fair Value of Employee Stock Options

The following weighted-average assumptions were used to value the liability associated with HMCH stock options as of May 28, 2016 and May 30, 2015.



	2016			2015
Risk-free interest rates ⁽¹⁾	1.07		%	0.99	%
Expected term of options ⁽²⁾	3.1 years			3.2 years
Expected volatility ⁽³⁾	35		%	35	%
Dividend yield	not applicable			not applicable
Strike price	$	24.39		24.39
Per share value ⁽⁴⁾	$	6.52		8.71

Schedule of Stock Option Plan Transactions



	Shares Under Option		Weighted-Average Exercise Prices		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value (In millions)
Outstanding at May 30, 2015	504,669		$	23.92	4.2	$	2.1
Granted	—		$	—
Exercised	(4,293	)	$	6.12
Forfeited	—		$	—
Outstanding at May 28, 2016	500,376		$	24.07	3.2	$	0.4
Exercisable at end of period	9,290		$	7.10	3.2	0.2

The total pre-tax intrinsic value of HMCH options exercised during fiscal 2016 was $0.1 million. The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the HMCH market price, less the strike price, as of the end of the period presented, which would have been received by the option holders had all option holders exercised in-the-money options as of that date.