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Equity Compensation Plans (Tables)
6 Months Ended
Nov. 30, 2013
Stock Option Activity

A summary of stock option activity during the nine months ended November 30, 2013 follows:

 

     Shares     Weighted-
Average
Exercise Price
 

Options outstanding at June 1, 2013

     2,091,000      $ 19.21   

Granted

     512,000        36.44   

Exercised

     (513,000     13.39   

Forfeited

     (80,000     21.25   
  

 

 

   

Options outstanding at November 30, 2013

     2,010,000        25.00   
Fair Value of Stock Options Granted, Estimated using Weighted-Average Assumptions

The fair value of stock options granted was estimated using the following weighted-average assumptions.

 

     FY-14     FY-13  

Risk-free interest rate

     0.8     1.2

Expected dividend yield

     0     0

Expected stock price volatility

     33.1     39.2

Expected option life

     4.0 years        4.0 years