Stock-Based Compensation

9 Months Ended

Mar. 04, 2023

The following table summarizes the stock-based compensation expense and related income tax effect for the three and nine months ended:


	Three Months Ended				Nine Months Ended
(In millions)	March 4, 2023		February 26, 2022		March 4, 2023		February 26, 2022
Stock-based compensation expense	$	4.8	$	4.9	$	15.7	$	27.0
Related income tax effect	$	1.2	$	1.2	$	3.8	$	6.6

The decrease in stock-based compensation expense for the nine months ended March 4, 2023 as compared to the same period of the prior year was driven primarily by the prior year's acceleration of stock-based compensation award expense related to the targeted workforce reductions implemented subsequent to the Knoll acquisition.

Certain Company equity-based compensation awards contain provisions that allow for continued vesting into retirement. Stock-based awards are considered fully vested for expense attribution purposes when the employee's retention of the award is no longer contingent on providing subsequent service.