Stock-Based Compensation (Tables)

9 Months Ended

Feb. 26, 2017

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes option pricing model were as follows.



	Stock Options Granted
	Nine Months Ended
	February 26, 2017			February 28, 2016
Weighted-average fair value (1)	$	9.08		$	12.72
Dividend yield	3.5		%	3.3		%
Expected volatility of stock	24.3		%	28.0		%
Risk-free interest rate	1.4		%	1.9		%
Expected option life (in years)	6.5			6.5
Weighted-average exercise price per share (1)	$	59.70		$	64.85

(1) Weighted averages for the three months ended February 28, 2016 were adjusted for the impact of the separation of Four Corners.

Schedule of Nonvested Share Activity

The following table presents a summary of our stock-based compensation activity for the nine months ended February 26, 2017:



(in millions)	Stock Options		Restricted Stock/ Restricted Stock Units		Darden Stock Units		Cash-Settled Performance Stock Units		Equity-Settled Performance Stock Units
Outstanding beginning of period	6.32		0.11		1.43		0.21		0.17
Awards granted	0.58		0.07		0.31		—		0.19
Awards exercised/vested	(1.48	)	(0.02	)	(0.28	)	(0.11	)	—
Awards forfeited	(0.16	)	(0.01	)	(0.07	)	(0.03	)	(0.03	)
Performance unit adjustment	—		—		—		0.01		—
Outstanding end of period	5.26		0.15		1.39		0.08		0.33

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

We recognized expense from stock-based compensation as follows:



	Three Months Ended				Nine Months Ended
(in millions)	February 26, 2017		February 28, 2016		February 26, 2017		February 28, 2016
Stock options	$	1.3	$	1.6	$	4.4	$	6.5
Restricted stock/restricted stock units	0.6		0.5		1.3		1.4
Darden stock units	4.3		4.9		13.6		11.7
Cash-settled performance stock units	1.0		3.4		2.3		5.4
Equity-settled performance stock units	1.5		0.9		3.9		2.0
Employee stock purchase plan	0.3		0.3		0.9		0.9
Director compensation program/other	0.3		0.3		0.9		1.3
Total stock-based compensation expense	$	9.3	$	11.9	$	27.3	$	29.2