STOCK-BASED COMPENSATION (Tables)

12 Months Ended

May 26, 2024

Share-Based Payment Arrangement [Abstract]

Recognized Stock-Based Compensation Expense

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

	Fiscal Year Ended
(in millions)	May 26, 2024		May 28, 2023		May 29, 2022
Stock options	$	6.8	$	6.3	$	6.6
Restricted stock units	8.6		7.4		7.5
Darden stock units	31.9		34.8		26.9
Equity-settled performance-based restricted stock units	16.1		14.3		15.3
Employee stock purchase plan	3.0		2.8		2.7
Director compensation program/other	2.1		1.9		1.5
Total	$	68.5	$	67.5	$	60.5

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 26, 2024		May 28, 2023		May 29, 2022
Income tax benefits	$	12.7	$	6.5	$	11.9

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 26, 2024			May 28, 2023			May 29, 2022
Weighted-average fair value	$	55.56		$	36.20		$	41.02
Dividend yield	3.4		%	3.8		%	3.2		%
Expected volatility of stock	42.2		%	42.0		%	39.6		%
Risk-free interest rate	4.0		%	2.8		%	0.9		%
Expected option life (in years)	5.9			5.9			6.3
Weighted-average exercise price per share	$	169.02		$	121.47		$	148.20

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 26, 2024			May 28, 2023			May 29, 2022
Dividend yield (1)	0.0		%	0.0		%	0.0		%
Expected volatility of stock	32.3		%	55.5		%	53.4		%
Risk-free interest rate	4.5		%	2.9		%	0.4		%
Expected option life (in years)	2.9			2.8			2.8
Weighted-average grant date fair value per unit	$	217.11		$	137.73		$	172.34

(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 26, 2024:

	Options (in millions)	Weighted-Average Exercise Price Per Share	Weighted-Average Remaining Contractual Life (Yrs)	Aggregate Intrinsic Value (in millions)
Outstanding beginning of period	1.62	$99.04	5.79	$100.6
Options granted	0.13	169.02
Options exercised	(0.40)	80.07
Options canceled	(0.01)	148.77
Outstanding end of period	1.34	$111.08	5.68	$51.6
Exercisable	0.78	$98.39	4.26	$38.6

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 26, 2024:

	Shares (in millions)	Weighted-Average Grant Date Fair Value Per Share
Outstanding beginning of period	0.28	$109.70
Shares granted	0.08	163.69
Shares vested	(0.10)	88.11
Shares canceled	—	—
Outstanding end of period	0.26	$132.38

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 26, 2024:

(All units settled in cash)	Units (in millions)	Weighted-Average Fair Value Per Unit
Outstanding beginning of period	0.81	$161.28
Units granted	0.16	167.13
Units vested	(0.17)	168.85
Units canceled	(0.04)	131.00
Outstanding end of period	0.76	$147.60

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 26, 2024:

	Units (in millions)	Weighted-Average Grant Date Fair Value Per Unit
Outstanding beginning of period	0.36	$123.45
Units granted	0.09	217.11
Units granted performance impact	0.07	83.46
Units vested	(0.16)	89.54
Units canceled	(0.01)	181.92
Outstanding end of period	0.35	$152.39