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Stock-Based Compensation (Tables) | 12 Months Ended
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May 29, 2021
Share-based Payment Arrangement [Abstract] |
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 29, 2021 |  | May 30, 2020 |  | June 1, 2019
Employee stock purchase program | $ | 0.4 |  |  | $ | 0.3 |  |  | $ | 0.3 |
Stock option plans | 3.7 |  |  | 0.6 |  |  | (0.4) |
Restricted stock units | 4.1 |  |  | 3.9 |  |  | 4.6 |
Performance share units | 0.8 |  |  | (2.1) |  |  | 2.8 |
Total | $ | 9.0 |  |  | $ | 2.7 |  |  | $ | 7.3 |
Tax benefit | $ | 2.0 |  |  | $ | 0.5 |  |  | $ | 1.6 |
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:
| 2021 |  | 2020 |  | 2019
Risk-free interest rates (1) | 2.30-2.47% |  | N/A |  | 2.65-2.70%
Expected term of options (2) | 3.8-4.1 years |  | N/A |  | 4.4 years
Expected volatility (3) | 43-44% |  | N/A |  | 27 | %
Dividend yield (4) | 1.99 | % |  | N/A |  | 2.18-2.33%
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 | $ | 6.10 |  |  | N/A |  | $ | 8.05 |
Granted with exercise prices greater than the fair market value of the stock on the date of grant | $ | 5.62 |  |  | N/A |  | N/A
(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 February 28, 2020.
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 May 30, 2020 | 361,416 |  |  | $ | 32.80 |  |  | $ | 0.2 |  |  | 5.8
Granted at market | 1,409,792 |  |  | $ | 22.9 |  |  |  |  |
Exercised | (86,238) |  |  | $ | 30.81 |  |  |  |  |
Forfeited or expired | (11,598) |  |  | $ | 22.53 |  |  |  |  |
Outstanding at May 29, 2021 | 1,673,372 |  |  | $ | 24.63 |  |  | $ | 38.8 |  |  | 8.56
Ending vested + expected to vest | 1,673,372 |  |  | $ | 24.63 |  |  | $ | 38.8 |  |  | 8.56
Exercisable at end of period | 230,462 |  |  | $ | 32.55 |  |  | $ | 3.5 |  |  | 5.35
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, 2020 | 243,774 |  |  | $ | 37.02 |  |  | $ | 5.6 |  |  | 1.3
Granted | 307,652 |  |  | $ | 26.71 |  |  |  |  |
Forfeited | (6,955) |  |  | $ | 32.36 |  |  |  |  |
Released | (60,460) |  |  | $ | 33.98 |  |  |  |  |
Outstanding at May 29, 2021 | 484,011 |  |  | $ | 30.84 |  |  | $ | 23.1 |  |  | 1.4
Ending vested + expected to vest | 484,011 |  |  | $ | 30.84 |  |  | $ | 23.1 |  |  | 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, 2020 | 384,537 |  |  | $ | 37.95 |  |  | $ | 8.9 |  |  | 1.3
Granted | 84,989 |  |  | $ | 37.21 |  |  |  |  |
Forfeited | (52,914) |  |  | $ | 24.76 |  |  |  |  |
Released | (48,553) |  |  | $ | 23.67 |  |  |  |  |
Outstanding at May 29, 2021 | 368,059 |  |  | $ | 41.54 |  |  | $ | 17.6 |  |  | 1.1
Ending vested + expected to vest | 368,059 |  |  | $ | 41.54 |  |  | $ | 17.6 |  |  | 1.1
Schedule of Director Share Based Compensation | Under the plan, the Board members received the following shares or options in the fiscal years indicated:
| 2021 |  | 2020 |  | 2019
Shares of common stock | 3,013 |  |  | 7,769 |  |  | 10,185 |
Shares through the deferred compensation program | — |  |  | 1,045 |  |  | 7,619 |

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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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