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Stock-Based Compensation (Tables)
 12 Months Ended
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