Stock-Based Compensation (Tables)

9 Months Ended

Feb. 23, 2020

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Nonvested Share Activity

The following table presents a summary of our stock-based compensation activity for the nine months ended February 23, 2020.

(in millions)	Stock Options		Restricted Stock/ Restricted Stock Units		Equity-Settled Performance Stock Units		Cash-Settled Darden Stock Units
Outstanding beginning of period	2.60		0.28		0.60		1.20
Awards granted	0.31		0.07		0.18		0.19
Awards exercised/vested	(0.26	)	(0.06	)	(0.22	)	(0.28	)
Awards forfeited	(0.01	)	(0.01	)	(0.01	)	(0.06	)
Outstanding end of period	2.64		0.28		0.55		1.05

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 23, 2020		February 24, 2019		February 23, 2020		February 24, 2019
Stock options	$	1.7	$	1.2	$	4.5	$	3.7
Restricted stock/restricted stock units	2.2		1.7		5.7		4.7
Equity-settled performance stock units	4.0		3.5		11.7		9.5
Cash-settled Darden stock units	5.9		6.5		18.3		25.3
Employee stock purchase plan	0.4		0.4		1.3		1.1
Director compensation program/other	0.4		0.4		1.1		1.0
Total stock-based compensation expense	$	14.6	$	13.7	$	42.6	$	45.3

Non-qualified Stock Options

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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 23, 2020			February 24, 2019
Weighted-average fair value	$	19.94		$	18.78
Dividend yield	3.0		%	3.2		%
Expected volatility of stock	22.5		%	22.6		%
Risk-free interest rate	1.9		%	2.9		%
Expected option life (in years)	6.3			6.4
Weighted-average exercise price per share	$	124.24		$	107.05

Equity-Settled Performance Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

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

The weighted-average grant date fair value of performance-based restricted stock units and the related assumptions used in the Monte Carlo simulation to record stock-based compensation are as follows:

	Granted in Fiscal Year Ended
	Nine Months Ended
	February 23, 2020			February 24, 2019
Dividend yield (1)	0.0		%	0.0		%
Expected volatility of stock	23.1		%	23.4		%
Risk-free interest rate	1.8		%	2.7		%
Expected option life (in years)	2.9			2.9
Weighted-average grant date fair value per unit	$	124.41		$	115.07

(1)

Assumes a reinvestment of dividends.