XML 71 R39.htm IDEA: XBRL DOCUMENT v3.25.2

Stock-Based Compensation (Tables)

12 Months Ended

May 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Pre-Tax Compensation Expense and Related Tax Benefits

Excluding fully vested and non-forfeitable deferred stock units described under "Director Fees and Director Deferred Compensation Plan" below, 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 31, 2025						June 1, 2024						June 3, 2023
Employee stock purchase program			$	0.5					$	0.5					$	0.5
Stock options			3.5						7.7						5.7
Restricted stock units			22.6						8.7						9.4
Performance share units			5.2						3.4						3.5
Restricted stock awards			—						0.3						1.1
Total			$	31.8					$	20.6					$	20.2
Tax benefit			$	7.7					$	5.0					$	4.9

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:

						2025									2024						2023
Valuation Method						Black-Scholes									Black-Scholes						Hull-White I(1)			Black-Scholes
Risk-free interest rates (2)						4.53%									3.76% to 3.94%						2.91%			3.01		%
Hull-White I barrier(3)						N/A									N/A						1.36			N/A
Expected term of options (4)						5.3 years									4.9 years						N/A			3.4 years
Expected volatility (5)						50.33%									49.33% to 50.26%						37.09%			51.58		%
Dividend yield (6)						3.13%									2.90% to 4.79%						2.52		%	2.50		%
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						$	8.48								$	9.61					N/A			$	9.43
Granted with exercise prices greater than the fair market value of the stock on the date of grant						N/A									$	4.94					$	5.74		N/A

(1) A conservative post-vest cancel rate of 0.00% was applied under the assumption that the options will be exercised.

(2) Represents term-matched, zero-coupon risk-free rate from the Treasury Constant Maturity yield curve, continuously compounded.

(3) Represents historical average of Section 16 Officers in-the-money exercise ratio from Company’s historical data through May 27, 2022.

(4) Represents historical settlement data, using midpoint scenario with 1-year grant date filter assumption for outstanding options.

(5) The blended volatility approach was used. 90% term-matched historical volatility from daily stock prices and 10% weighted average implied volatility from the 30 days preceding the grant date for fiscal 2025 and the 90 days preceding the grant date for fiscal 2024 and 2023.

(6) Represents the quarterly dividend divided by the three-month average stock price as of January 13, 2025, July 14, 2023, January 12, 2024 and July 7 and 12, 2022, for 2025, 2024, and 2023, respectively.

Schedule of Stock Option Plan Transactions

The following is a summary of stock option activity during fiscal 2025:

			Shares Under Option						Weighted-Average Exercise Prices						Aggregate Intrinsic Value (in millions)						Weighted-Average Remaining Contractual Term (Years)
Outstanding at June 1, 2024			4,409,392						$	24.06					$	23.0					7.8
Granted			9,905						21.90
Exercised			(95,901)						20.61
Forfeited or expired			(66,467)						20.00
Outstanding at May 31, 2025			4,256,929						24.19						—						6.5
Exercisable at end of period			2,644,945						$	25.92					$	—					5.6

Schedule of Restricted Stock Unit (RSU) Activity

The following is a summary of restricted stock unit activity during fiscal 2025:

			Share Units						Weighted Average Grant-Date Fair Value						Aggregate Intrinsic Value (in millions)						Weighted-Average Remaining Contractual Term (Years)
Outstanding at June 1, 2024			930,647						$	21.92					$	25.9					1.2
Granted			1,054,335						28.24
Forfeited			(75,878)						22.60
Released			(337,906)						26.02
Outstanding at May 31, 2025			1,571,198						$	25.22					$	26.7					0.7

Schedule of Performance-based Stock Units (PSU) Activity

The following is a summary of performance stock unit activity during fiscal 2025:

			Share Units						Weighted Average Grant-Date Fair Value						Aggregate Intrinsic Value (in millions)						Weighted-Average Remaining Contractual Term (Years)
Outstanding at June 1, 2024			442,353						$	23.91					$	12.2					1.0
Granted			355,205						28.04
Forfeited			(89,709)						25.16
Released			(79,937)						30.34
Outstanding at May 31, 2025			627,912						$	25.29					$	10.6					0.9

Schedule of Director Share Based Compensation

The following amounts and types of Company equity were issued to non-employee directors during the fiscal years indicated:

			2025						2024						2023
Shares of common stock			48,387						31,379						27,785
Deferred stock units pursuant to the Director Plan			22,532						16,490						25,230
Stock options			9,905						8,377						—

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested performance-based units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationNonemployeeDirectorStockAwardPlanActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration