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Stock-Based Compensation (Tables) | 12 Months Ended
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May 30, 2020
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 were as follows for the periods indicated:
(In millions) | May 30, 2020 |  | June 1, 2019 |  | June 2, 2018
Employee stock purchase program | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.3 |
Stock option plans | 0.6 |  |  | (0.4 | ) |  | 2.6 |
Restricted stock units | 3.9 |  |  | 4.6 |  |  | 3.9 |
Performance share units | (2.1 | ) |  | 2.8 |  |  | 0.9 |
Total | $ | 2.7 |  |  | $ | 7.3 |  |  | $ | 7.7 |
Tax benefit | $ | 0.5 |  |  | $ | 1.6 |  |  | $ | 2.3 |
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:
| 2020 |  | 2019 |  | 2018
Risk-free interest rates (1) | N/A |  | 2.65-2.70% |  |  | 1.79 | %
Expected term of options (2) | N/A |  | 4.4 years |  |  | 4.6 years |
Expected volatility (3) | N/A |  | 27 | % |  | 26 | %
Dividend yield (4) | N/A |  | 2.18-2.33% |  |  | 2.23 | %
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 | N/A |  | $ | 8.05 |  |  | $ | 6.39 |
(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 compounded.
Schedule of Stock Option Plan Transactions | The following is a summary of the transactions under the Company's stock option plan:
| Shares Under Option |  | Weighted-Average Exercise Prices |  | Aggregate Intrinsic Value (in millions) |  | Weighted-Average Remaining Contractual Term (Years)
Outstanding at June 1, 2019 | 790,059 |  |  | $ | 32.17 |  |  | $ | 3.0 |  |  | 5.8
Exercised | (423,815 | ) |  | $ | 31.63 |  |  |  |  |
Forfeited or expired | (4,828 | ) |  | $ | 33.38 |  |  |  |  |
Outstanding at May 30, 2020 | 361,416 |  |  | $ | 32.80 |  |  | $ | 0.2 |  |  | 5.8
Ending vested + expected to vest | 361,416 |  |  | $ | 32.80 |  |  | $ | 0.2 |  |  | 5.8
Exercisable at end of period | 186,952 |  |  | $ | 29.80 |  |  | $ | 0.2 |  |  | 5.2
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 1, 2019 | 311,281 |  |  | $ | 33.93 |  |  | $ | 11.0 |  |  | 1.1
Granted | 90,551 |  |  | $ | 44.70 |  |  |  |  |
Forfeited | (14,378 | ) |  | $ | 40.07 |  |  |  |  |
Released | (143,680 | ) |  | $ | 34.79 |  |  |  |  |
Outstanding at May 30, 2020 | 243,774 |  |  | $ | 37.02 |  |  | $ | 5.6 |  |  | 1.3
Ending vested + expected to vest | 240,824 |  |  | $ | 37.00 |  |  | $ | 5.5 |  |  | 1.3
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 1, 2019 | 323,356 |  |  | $ | 33.48 |  |  | $ | 11.5 |  |  | 1.1
Granted | 188,719 |  |  | $ | 45.71 |  |  |  |  |
Forfeited | (127,538 | ) |  | $ | 31.79 |  |  |  |  |
Outstanding at May 30, 2020 | 384,537 |  |  | $ | 37.95 |  |  | $ | 8.9 |  |  | 1.3
Ending vested + expected to vest | 384,537 |  |  | $ | 37.95 |  |  | $ | 8.9 |  |  | 1.3
Schedule of Director Share Based Compensation | Under the plan, the Board members received the following shares or options in the fiscal years indicated:
| 2020 |  | 2019 |  | 2018
Shares of common stock | 7,769 |  |  | 10,185 |  |  | 8,828 |
Shares through the deferred compensation program | 1,045 |  |  | 7,619 |  |  | 2,207 |

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