STOCK-BASED COMPENSATION (Tables)

12 Months Ended

May 29, 2022

STOCK-BASED COMPENSATION

The schedule of RSU and Performance Share activity

	RSUs				Performance Shares
			Weighted-				Weighted-
			Average				Average
			Grant-				Grant-
			Date Fair				Date Fair
	Shares		Value		Shares		Value
Outstanding at May 30, 2021		675,302	$	66.34		335,445	$	67.02
Granted (a)		404,131		65.46		135,204		67.12
Vested (b)		(196,230)		68.64		(133,039)		69.50
Forfeited/expired/cancelled		(75,476)		67.34		(27,613)		63.94
Outstanding at May 29, 2022		807,727	$	65.25		309,997	$	66.27

(a) Granted represents new grants and dividend equivalents accrued.

(b) The aggregate fair value of awards that vested in fiscal 2022, 2021, and 2020 was $22.4 million, $29.3 million, and $24.9 million, respectively, which represents the market value of our common stock on the date that the RSUs and Performance Shares vested. The number of RSUs and Performance Shares vested includes shares of common stock that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. RSUs that are expected to vest are net of estimated future forfeitures.

Schedule of compensation expenses for stock-based awards recognized, net of forfeitures

	For the Fiscal Years Ended May
(in millions)	2022		2021		2020
Stock-settled RSUs	$	15.1	$	13.9	$	12.9
Performance Shares		6.2		6.7		9.8
Stock options		—		—		0.1
Stock-settled compensation expense		21.3		20.6		22.8
Cash-settled RSUs		—		—		1.0
Total compensation expense		21.3		20.6		23.8
Income tax benefit (a)		(3.9)		(3.7)		(4.6)
Total compensation expense, net of tax benefit	$	17.4	$	16.9	$	19.2

(a) Income tax benefit represents the marginal tax rate, excluding non-deductible compensation.

Schedule of total unrecognized compensation expense, net of estimated forfeitures, related to stock-based payments

			Remaining
			Weighted
	Unrecognized		Average
	Compensation		Recognition
(in millions, except data in years)	Expense		Period (in years)
Stock-settled RSUs	$	23.9		2.0
Performance Shares		7.1		1.8
Total unrecognized compensation expense	$	31.0		2.0