STOCK-BASED COMPENSATION (Tables)

12 Months Ended

May 28, 2023

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Recognized Stock-Based Compensation Expense

Stock-based compensation expense included in continuing operations was as follows:  

	Fiscal Year Ended
(in millions)	May 28, 2023		May 29, 2022		May 30, 2021
Stock options	$	6.3	$	6.6	$	8.6
Restricted stock units	7.4		7.5		9.5
Darden stock units	34.8		26.9		32.6
Equity-settled performance-based restricted stock units	14.3		15.3		17.9
Employee stock purchase plan	2.8		2.7		2.5
Director compensation program/other	1.9		1.5		1.3
Total	$	67.5	$	60.5	$	72.4

Excess income tax benefits related to the exercise of stock options and vesting of other equity-settled stock-based compensation recognized in income tax expense from continuing operations was as follows:  

	Fiscal Year Ended
(in millions)	May 28, 2023		May 29, 2022		May 30, 2021
Income tax benefits	$	6.5	$	11.9	$	14.0

Weighted-Average Fair Value and Related Assumptions for Stock-Based Compensation

The weighted-average fair value of non-qualified stock options and the related assumptions used in the Black-Scholes model to record stock-based compensation are as follows:

	Granted in Fiscal Year Ended
	May 28, 2023			May 29, 2022			May 30, 2021
Weighted-average fair value	$	36.20		$	41.02		$	20.07
Dividend yield	3.8		%	3.2		%	3.0		%
Expected volatility of stock	42.0		%	39.6		%	37.3		%
Risk-free interest rate	2.8		%	0.9		%	0.4		%
Expected option life (in years)	5.9			6.3			6.4
Weighted-average exercise price per share	$	121.47		$	148.20		$	78.84

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

	Granted in Fiscal Year Ended
	May 28, 2023			May 29, 2022			May 30, 2021
Dividend yield (1)	0.0		%	0.0		%	0.0		%
Expected volatility of stock	55.5		%	53.4		%	50.5		%
Risk-free interest rate	2.9		%	0.4		%	0.1		%
Expected option life (in years)	2.8			2.8			2.8
Weighted-average grant date fair value per unit	$	137.73		$	172.34		$	83.46

(1)Assumes a reinvestment of dividends.

Summary Of Stock Option Activity

The following table presents a summary of our stock option activity as of and for the year ended May 28, 2023:

	Options (in millions)	Weighted-Average Exercise Price Per Share	Weighted-Average Remaining Contractual Life (Yrs)	Aggregate Intrinsic Value (in millions)
Outstanding beginning of period	1.81	$89.97	5.75	$68.8
Options granted	0.18	121.47
Options exercised	(0.37)	65.18
Options canceled	—	—
Outstanding end of period	1.62	$99.04	5.79	$100.6
Exercisable	0.91	$89.40	4.29	$64.9

Summary Of Restricted Stock and RSU Activity

The following table presents a summary of our RSU activity as of and for the fiscal year ended May 28, 2023:

	Shares (in millions)	Weighted-Average Grant Date Fair Value Per Share
Outstanding beginning of period	0.25	$107.00
Shares granted	0.08	127.39
Shares vested	(0.05)	122.80
Shares canceled	—	—
Outstanding end of period	0.28	$109.70

Summary Of Darden Stock Unit Activity

The following table presents a summary of our Darden stock unit activity as of and for the fiscal year ended May 28, 2023:

(All units settled in cash)	Units (in millions)	Weighted-Average Fair Value Per Unit
Outstanding beginning of period	0.82	$126.04
Units granted	0.21	123.33
Units vested	(0.16)	121.56
Units canceled	(0.06)	119.13
Outstanding end of period	0.81	$161.28

Summary Of Performance Stock Unit Activity

The following table presents a summary of our equity-settled PRSU activity as of and for the fiscal year ended May 28, 2023:

	Units (in millions)	Weighted-Average Grant Date Fair Value Per Unit
Outstanding beginning of period	0.41	$114.10
Units granted	0.10	121.47
Units granted performance impact	(0.04)	115.97
Units vested	(0.11)	107.04
Units canceled	—	—
Outstanding end of period	0.36	$123.45