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v3.26.1

Equity Compensation Plans and Other Incentive Compensation (Tables) | 12 Months Ended
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May 31, 2026
Stock Option Activity |
(option amounts in millions) |  | Options |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at May 31, 2023 (1.4 exercisable) |  |  | 4.2 |  |  | $ | 25.56 |  |  | $ | 6.51 |
Granted |  |  | 1.9 |  |  |  | 15.43 |  |  |  | 5.98 |
Exercised |  |  | — |  |  |  | 13.61 |  |  |  | 4.44 |
Forfeited |  |  | (1.2 | ) |  |  | 30.27 |  |  |  | 7.26 |
Outstanding at May 31, 2024 (1.5 exercisable) |  |  | 4.9 |  |  |  | 20.41 |  |  |  | 6.12 |
Granted |  |  | 2.0 |  |  |  | 15.47 |  |  |  | 4.96 |
Exercised |  |  | — |  |  |  | 14.50 |  |  |  | 4.59 |
Forfeited |  |  | (1.0 | ) |  |  | 27.92 |  |  |  | 7.10 |
Outstanding at May 31, 2025 (2.1 exercisable) |  |  | 5.9 |  |  |  | 17.51 |  |  |  | 5.56 |
Granted |  |  | 6.2 |  |  |  | 5.93 |  |  |  | 2.20 |
Exercised |  |  | 0.1 |  |  |  | 5.43 |  |  |  | 2.11 |
Forfeited |  |  | (4.5 | ) |  |  | 14.31 |  |  |  | 4.61 |
Outstanding at May 31, 2026 (2.7 exercisable) |  |  | 7.7 |  |  | $ | 10.05 |  |  | $ | 3.35 |
Summary of Stock Options Outstanding | The following is a summary of stock options outstanding at May 31, 2026:
|  | Options Outstanding |  |  | Options Exercisable |
|  |  |  |  | Average Contractual |  |  | Weighted-Average |  |  |  |  |  | Weighted-Average |
(option amounts in millions) |  |  |  |  | Life |  |  | Exercise |  |  |  |  |  | Exercise |
Range of Exercise Price |  | Number |  |  | (in years) |  |  | Price |  |  | Number |  |  | Price |
$5.14 - $15.00 |  |  | 6.1 |  |  |  | 7.8 |  |  | $ | 7.48 |  |  |  | 1.2 |  |  | $ | 12.55 |
$15.01 - $25.00 |  |  | 1.3 |  |  |  | 2.5 |  |  |  | 16.24 |  |  |  | 1.2 |  |  |  | 16.23 |
$25.01 - $35.00 |  |  | 0.1 |  |  |  | 0.9 |  |  |  | 28.72 |  |  |  | 0.1 |  |  |  | 28.73 |
$35.01 - $42.46 |  |  | 0.2 |  |  |  | 0.4 |  |  |  | 41.00 |  |  |  | 0.2 |  |  |  | 41.01 |
|  |  | 7.7 |  |  |  | 6.7 |  |  | $ | 10.05 |  |  |  | 2.7 |  |  | $ | 16.66 |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options Intrinsic Value | Remaining compensation cost to be expensed in future periods for non-vested options was $9.0 million at May 31, 2026, with a weighted average expense recognition period of 2.4 years.
|  | Year Ended May 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
Aggregate intrinsic value of options outstanding |  | $ | 14.5 |  |  | $ | 0.1 |  |  | $ | 0.1 |
Aggregate intrinsic value of options exercisable |  | $ | 0.4 |  |  | $ | — |  |  | $ | — |
Aggregate intrinsic value of options exercised |  | $ | 0.4 |  |  | $ | — |  |  | $ | — |
The fair value of stock options granted was estimated using the following weighted-average assumptions:
|  | Year Ended May 31, |
|  | 2026 |  |  | 2025 |  |  | 2024 |
Risk-free interest rate |  |  | 3.7 | % |  |  | 3.7 | % |  |  | 4.7 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 0.0 | % |  |  | 0.0 | %
Expected stock volatility |  |  | 43.4 | % |  |  | 38.1 | % |  |  | 37.3 | %
Expected option life |  | 3.8 years |  |  | 3.4 years |  |  | 4.5 years |
Schedule of Performance Stock Units | (PSU amounts in millions) PSUs Weighted Average Grant Date Fair Value Outstanding at May 31, 2025 — $ — Granted 1.3 6.28 Vested — — Forfeited (0.4 ) 5.90 Outstanding at May 31, 2026 0.9 $ 6.45
Restricted Stock Units (RSUs) [Member] |
Schedule of Nonvested Restricted Stock Units Activity |
(RSU amounts in millions) |  | RSUs |  |  | Weighted Average Grant Date Fair Value |
Outstanding at May 31, 2023 |  |  | 0.8 |  |  | $ | 19.30 |
Granted |  |  | 0.6 |  |  |  | 15.55 |
Released |  |  | (0.2 | ) |  |  | 18.53 |
Forfeited |  |  | (0.2 | ) |  |  | 19.98 |
Outstanding at May 31, 2024 |  |  | 1.0 |  |  | $ | 17.17 |
Granted |  |  | 0.5 |  |  |  | 15.49 |
Released |  |  | (0.4 | ) |  |  | 16.89 |
Forfeited |  |  | (0.1 | ) |  |  | 17.47 |
Outstanding at May 31, 2025 |  |  | 1.0 |  |  | $ | 16.25 |
Granted |  |  | 1.5 |  |  |  | 6.00 |
Released |  |  | (0.5 | ) |  |  | 15.82 |
Forfeited |  |  | (0.5 | ) |  |  | 12.82 |
Outstanding at May 31, 2026 |  |  | 1.5 |  |  | $ | 7.29 |

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