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Equity Compensation Plans (Tables)
3 Months Ended
Aug. 31, 2018
Stock Option Activity

A summary of stock option activity during the three months ended August 31, 2018 follows:

 

     Shares      Weighted-
Average
Exercise Price
 

Options outstanding June 1, 2018

     2,497,124      $ 42.63  

Granted

     —          —    

Exercised

     (253,076      28.60  

Forfeited

     (8,210      44.51  
  

 

 

    

Options outstanding August 31, 2018

     2,235,838        44.21  
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 2018

Risk-free interest rate

   1.6%

Expected dividend yield

   0.0%

Expected stock price volatility

   27.2%

Expected option life

   4.0 years