Stock-Based Compensation (Tables)

6 Months Ended

Nov. 27, 2022

Share-Based Payment Arrangement [Abstract]

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:

	Six Months Ended
	November 27, 2022			November 28, 2021
Weighted-average fair value	$	36.20		$	41.02
Dividend yield	3.8		%	3.2		%
Expected volatility of stock	42.0		%	39.6		%
Risk-free interest rate	2.8		%	0.9		%
Expected option life (in years)	5.9			6.3
Weighted-average exercise price per share	$	121.47		$	148.20

The weighted-average grant date fair value of market-based performance 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:

	Six Months Ended
	November 27, 2022			November 28, 2021
Dividend yield (1)	0.0		%	0.0		%
Expected volatility of stock	55.5		%	53.4		%
Risk-free interest rate	2.9		%	0.4		%
Expected life (in years)	2.8			2.8
Weighted-average grant date fair value per unit	$	137.73		$	172.34

(1)Assumes a reinvestment of dividends.

Schedule of Nonvested Share Activity

The following table presents a summary of our stock-based compensation activity for the six months ended November 27, 2022.

(in millions)	Stock Options	Restricted Stock/ Restricted Stock Units	Equity-Settled Performance Stock Units	Cash-Settled Darden Stock Units
Outstanding beginning of period	1.81	0.25	0.41	0.82
Awards granted	0.18	0.07	0.10	0.20
Awards granted performance impact	—	—	(0.04)	—
Awards exercised/vested	(0.12)	(0.04)	(0.11)	(0.15)
Awards forfeited	—	—	—	(0.04)
Outstanding end of period	1.87	0.28	0.36	0.83

Schedule of Recognized Expense From Stock-Based Compensation

We recognized expense from stock-based compensation as follows: 

	Three Months Ended				Six Months Ended
(in millions)	November 27, 2022		November 28, 2021		November 27, 2022		November 28, 2021
Stock options	$	1.5	$	1.1	$	4.1	$	4.5
Restricted stock/restricted stock units	1.8		1.2		4.6		5.0
Equity-settled performance stock units	3.4		2.3		8.9		10.5
Cash-settled Darden stock units	10.3		4.9		18.5		16.2
Employee stock purchase plan	0.7		0.6		1.4		1.3
Director compensation program/other	0.3		0.4		0.9		0.6
Total stock-based compensation expense	$	18.0	$	10.5	$	38.4	$	38.1