Stock-Based Compensation (Tables)

9 Months Ended

Feb. 28, 2021

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 28, 2021.

(in millions)	Stock Options	Restricted Stock/ Restricted Stock Units	Equity-Settled Performance Stock Units	Cash-Settled Darden Stock Units
Outstanding beginning of period	2.62	0.28	0.55	1.03
Awards granted	0.28	0.10	0.14	0.28
Awards exercised/vested	(0.53)	(0.08)	(0.19)	(0.44)
Awards forfeited	(0.01)	(0.01)	—	(0.05)
Outstanding end of period	2.36	0.29	0.50	0.82

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 28, 2021		February 23, 2020		February 28, 2021		February 23, 2020
Stock options	$	2.2	$	1.7	$	6.7	$	4.5
Restricted stock/restricted stock units	2.1		2.2		7.9		5.7
Equity-settled performance stock units	4.0		4.0		14.7		11.7
Cash-settled Darden stock units	9.4		5.9		27.8		18.3
Employee stock purchase plan	0.6		0.4		1.8		1.3
Director compensation program/other	0.3		0.4		1.1		1.1
Total stock-based compensation expense	$	18.6	$	14.6	$	60.0	$	42.6

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 for options granted during the periods presented, were as follows:

	Nine Months Ended
	February 28, 2021			February 23, 2020
Weighted-average fair value	$	20.07		$	19.94
Dividend yield	3.0		%	3.0		%
Expected volatility of stock	37.3		%	22.5		%
Risk-free interest rate	0.4		%	1.9		%
Expected option life (in years)	6.4			6.3
Weighted-average exercise price per share	$	78.84		$	124.24

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 for units granted during the periods presented, were as follows:

	Nine Months Ended
	February 28, 2021			February 23, 2020
Dividend yield (1)	0.0		%	0.0		%
Expected volatility of stock	50.5 %			23.1 %
Risk-free interest rate	0.1 %			1.8 %
Expected life (in years)	2.8			2.9
Weighted-average grant date fair value per unit	$	83.46		$	124.41

(1)Assumes a reinvestment of dividends.