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Stock-Based Compensation (Tables)
 12 Months Ended
Jun. 02, 2018
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)
 
June 2, 2018
 
June 3, 2017
 
May 28, 2016
Employee stock purchase program
 
$
0.3

 
$
0.3

 
$
0.3

Stock option plans
 
2.6

 
2.0

 
1.9

Restricted stock units
 
3.9

 
3.6

 
3.2

Performance share units
 
0.9

 
2.8

 
6.5

Total
 
$
7.7

 
$
8.7

 
$
11.9

 
 
 
 
 
 
 
Tax benefit
 
$
2.3

 
$
3.1

 
$
4.3
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 June 3, 2017
384,952

 
$
28.73

 
$
12.6

 
1.14
Granted
242,012

 
$
35.28

 
 
 
 
Forfeited
(19,233
)
 
$
30.86

 
 
 
 
Released
(126,704
)
 
$
27.75

 
 
 
 
Outstanding at June 2, 2018
481,027

 
$
32.20

 
$
15.8

 
1.28
Ending vested + expected to vest
481,027

 
32.20

 
$
15.8

 
1.28
Schedule of Fair Value of Employee Stock Options
In determining these values, the following weighted-average assumptions were used for the options granted during the fiscal years indicated:
 
2018
 
2017
 
2016
Risk-free interest rates (1)
1.79
%
 
1.01
%
 
1.51
%
Expected term of options (2)
4.6 years

 
4.0 years

 
4.0 years

Expected volatility (3)
26
%
 
26
%
 
33
%
Dividend yield (4)
2.23
%
 
2.13
%
 
2.03
%
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
$
6.39

 
$
5.50

 
$
6.73


(1) Represents term-matched, zero-coupon risk-free rate from the Treasury Constant Maturity yield curve, continuously compounded.
(2) Represents historical settlement data, using midpoint scenario with 1-year grant date filter assumption for outstanding options.
(3) The blended volatility approach was used. 90% term-matched historical volatility from daily stock prices and 10% percent weighted average implied volatility from the 90 days preceding the grant date.
(4) Represents the quarterly dividend divided by the three-month average stock price as of the grant date, annualized and continuously
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 June 3, 2017
417,947

 
$
31.18

 
$
13.7

 
1.03
Granted
129,131

 
$
31.28

 
 
 
 
Forfeited
(42,339
)
 
$
34.27

 
 
 
 
Released
(130,179
)
 
$
31.47

 
 
 
 
Outstanding at June 2, 2018
374,560

 
$
30.76

 
$
12.3

 
1.01
Ending vested + expected to vest
374,560

 
$
30.76

 
$
12.3

 
1.01
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 June 3, 2017
 
1,329,702

 
$
28.36

 
7.26
 
$
5.8

     Granted at market
 
323,412

 
$
33.75

 
 
 
 
     Exercised
 
(538,259
)
 
$
27.28

 
 
 
 
     Forfeited or expired
 
(51,606
)
 
$
32.83

 
 
 
 
Outstanding at June 2, 2018
 
1,063,249

 
$
30.33

 
7.45
 
$
2.9

Ending vested + expected to vest
 
1,063,249

 
$
30.33

 
7.45
 
$
2.9

Exercisable at end of period
 
265,519

 
$
23.96

 
4.78
 
$
2.4
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:
 
 
2018
 
2017
 
2016
Shares of common stock
 
8,828

 
9,982

 
21,988

Shares through the deferred compensation program
 
2,207

 
2,582

 
3,118
Herman Miller Consumer Stock Option Plan | Employee Stock Option  
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 June 2, 2018 and June 3, 2017:
 
 
2018
 
2017
Risk-free interest rates (1)
 
2.29
%
 
1.29
%
Expected term of options (2)
 
1.1 years

 
2.1 years

Expected volatility (3)
 
35
%
 
35
%
Dividend yield
 
not applicable

 
not applicable

Strike price
 
$
30.64

 
24.39

Per share value (4)
 
$
8.24

 
3.24


(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.
(3) Amount is determined based on analysis of historical price volatility of the common stock of peer companies over a period equal to the expected term of the options.
(4) Based on the Black-Scholes formula.
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 June 3, 2017
 
526,244

 
$
24.20

 
2.20
 
$
0.1

     Granted
 
28,810

 
$
21.08

 
 
 
 
     Forfeited
 
(10,928
)
 
$
24.39

 
 
 
 
Outstanding at June 2, 2018
 
544,126

 
$
24.04

 
1.20
 
$
3.6

Exercisable at end of period
 
75,568

 
$
21.83

 
1.20
 
$
0.6