v3.24.2
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, 2024May 28, 2023May 29, 2022
Stock options$6.8 $6.3 $6.6 
Restricted stock units8.6 7.4 7.5 
Darden stock units31.9 34.8 26.9 
Equity-settled performance-based restricted stock units16.1 14.3 15.3 
Employee stock purchase plan3.0 2.8 2.7 
Director compensation program/other2.1 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, 2024May 28, 2023May 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, 2024May 28, 2023May 29, 2022
Weighted-average fair value$55.56 $36.20 $41.02 
Dividend yield3.4 %3.8 %3.2 %
Expected volatility of stock42.2 %42.0 %39.6 %
Risk-free interest rate4.0 %2.8 %0.9 %
Expected option life (in years)5.95.96.3
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, 2024May 28, 2023May 29, 2022
Dividend yield (1)0.0 %0.0 %0.0 %
Expected volatility of stock32.3 %55.5 %53.4 %
Risk-free interest rate4.5 %2.9 %0.4 %
Expected option life (in years)2.92.82.8
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 period1.62$99.045.79$100.6
Options granted0.13169.02
Options exercised(0.40)80.07
Options canceled(0.01)148.77
Outstanding end of period1.34$111.085.68$51.6
Exercisable0.78$98.394.26$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 period0.28$109.70
Shares granted0.08163.69
Shares vested(0.10)88.11
Shares canceled——
Outstanding end of period0.26$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 period0.81$161.28
Units granted0.16167.13
Units vested(0.17)168.85
Units canceled(0.04)131.00
Outstanding end of period0.76$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 period0.36$123.45
Units granted0.09217.11
Units granted performance impact0.0783.46
Units vested(0.16)89.54
Units canceled(0.01)181.92
Outstanding end of period0.35$152.39