v3.26.1
Stock-Based Compensation (Tables)
 12 Months Ended
May 31, 2026
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Stock-Based Compensation Expense Included in Consolidated Statements of Income

The following table represents total stock-based compensation expense included in our Consolidated Statements of Income:

Year Ended May 31,

 

2026

 

 

2025

 

 

2024

 

(In thousands)

 

 

 

 

 

 

 

 

 

Stock-based compensation expense, included in SG&A

 

$

33,237

 

 

$

27,042

 

 

$

25,925

 

Stock-based compensation expense, included in restructuring expense

 

 

(389

)

 

 

-

 

 

 

-

 

Total stock-based compensation cost

 

 

32,848

 

 

 

27,042

 

 

 

25,925

 

Income tax (benefit)

 

 

(4,427

)

 

 

(3,685

)

 

 

(3,627

)

Total stock-based compensation cost, net of tax

 

$

28,421

 

 

$

23,357

 

 

$

22,298

 
Summary of Weighted-Average Assumptions Related to SARs Grants

The following is a summary of our weighted-average assumptions related to SARs grants made during the last three fiscal years:

Year Ended May 31,

 

2026

 

 

2025

 

 

2024

 

Risk-free interest rate

 

 

4.1

%

 

 

4.1

%

 

 

3.9

%

Expected life of option - years

 

6.0

 

 

6.0

 

 

6.0

 

Expected dividend yield

 

 

1.8

%

 

 

1.6

%

 

 

1.8

%

Expected volatility rate

 

 

25.5

%

 

 

25.2

%

 

 

24.6

%
Summary of Option and Share-Based Payment Activity

The following tables summarize option and share-based payment activity (including SARs) under these plans during the fiscal year ended May 31, 2026:

 

 

2026

 

Share-Based Payments

 

Weighted-
Average
Exercise Price

 

 

Number of
Shares Under
Option

 

(Shares in thousands)

 

 

 

 

 

 

Balance at June 1, 2025

 

$

81.44

 

 

 

1,892

 

Options granted

 

 

110.59

 

 

 

262

 

Options exercised

 

 

53.23

 

 

 

(75

)

Balance at May 31, 2026

 

 

86.14

 

 

 

2,079

 

Exercisable at May 31, 2026

 

$

79.50

 

 

 

1,512

 

 

SARs

 

2026

 

 

2025

 

 

2024

 

(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

Weighted-average grant-date fair value per SAR

 

$

29.39

 

 

$

30.99

 

 

$

24.04

 

Fair value of SARS vested

 

$

22.49

 

 

$

18.93

 

 

$

15.28

 

Intrinsic value of options exercised

 

$

11.06

 

 

$

15.49

 

 

$

12.37

 

Tax benefit from options exercised

 

$

783

 

 

$

559

 

 

$

6,049

 
Directors Equity Incentive Plan 2003  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units

The following table summarizes the share-based activity under the 2014 Omnibus Plan and 2024 Omnibus Plan related to directors during fiscal 2026:

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

 

Fair Value

 

 

2026

 

(Shares in thousands)

 

 

 

 

 

 

Balance at June 1, 2025

 

$

104.44

 

 

 

41

 

Shares granted to directors

 

 

117.19

 

 

 

15

 

Shares vested

 

 

92.87

 

 

 

(15

)

Balance at May 31, 2026

 

$

113.52

 

 

 

41

 
2007 Plan and 2014 Omnibus Plan  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units The following table sets forth such awards for the year ended May 31, 2026:

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

 

Fair Value

 

 

2026

 

(Shares in thousands)

 

 

 

 

 

 

Balance at June 1, 2025

 

$

47.06

 

 

 

373

 

Shares granted

 

 

110.59

 

 

 

18

 

Shares vested

 

 

91.43

 

 

 

(26

)

Shares released from restriction

 

 

31.25

 

 

 

(282

)

Balance at May 31, 2026

 

$

93.18

 

 

 

83

 
Performance Earned Restricted Stock Awards  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units

The following table summarizes the share-based performance-earned restricted stock (“PERS”) and performance stock units (“PSUs”) activity during the fiscal year ended May 31, 2026:

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date

 

 

 

 

 

 

Fair Value

 

 

2026

 

(Shares in thousands)

 

 

 

 

 

 

Balance at June 1, 2025

 

$

97.96

 

 

 

816

 

Shares granted

 

 

110.54

 

 

 

259

 

Shares forfeited

 

 

87.28

 

 

 

(211

)

Shares vested

 

 

90.44

 

 

 

(84

)

Balance at May 31, 2026

 

$

105.81

 

 

 

780

 
Performance Stock Units  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units

The following table sets forth such awards for the year ended May 31, 2026:

Performance Stock Units ("PSUs")

 

Shares Granted

 

 

Weighted-Average Grant Date Fair Value

 

 

Shares Outstanding as of May 31, 2026

 

 

Unamortized Expense, as of May 31, 2026

 

(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

2023 PSUs (1)

 

 

176

 

 

$

93.51

 

 

 

141

 

 

$

-

 

2024 PSU's (2)

 

 

153

 

 

$

114.26

 

 

 

134

 

 

$

4,489

 

2025 PSU's (3)

 

 

142

 

 

$

110.59

 

 

 

139

 

 

$

18,920

 
(1)
The "2023 PSUs" were granted on July 19, 2023. The expense has been fully recognized, in line with the final results achieved for the three-year performance plan.
(2)
The "2024 PSUs" were granted on July 18, 2024. The unamortized expense is expected to be recognized over a weighted-average period of 1.0 year.
(3)
The "2025 PSUs" were granted on July 16, 2025. The unamortized expense is expected to be recognized over a weighted-average period of 2.0 years.
Nonvested Shares  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units

The following table summarizes the activity for all nonvested restricted shares during the year ended May 31, 2026:

 

 

Weighted-Average

 

 

 

 

 

 

Grant-Date Fair

 

 

Number of

 

 

 

Value

 

 

Shares

 

(Shares in thousands)

 

 

 

 

 

 

Balance at June 1, 2025

 

$

97.40

 

 

 

947

 

Granted

 

 

110.89

 

 

 

292

 

Vested

 

 

90.95

 

 

 

(125

)

Forfeited

 

 

87.28

 

 

 

(211

)

Balance at May 31, 2026

 

$

105.00

 

 

 

903

 
Vested Shares  
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]  
Summary of Share-Based Performance Earned Restricted Stock Activity and Restricted Stock Units

The following table summarizes the grant date and vested values of restricted shares during the last three fiscal years:

Year Ended May 31,

 

Weighted-Average Grant Date Fair Value

 

 

Fair Value of Restricted Shares Vested

 

 

Shares of Restricted Stock Vested

 

 

Intrinsic Value of Restricted Shares Vested

 

(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

$

93.95

 

 

$

32,842

 

 

 

421

 

 

$

38,608

 

2025

 

$

114.60

 

 

$

33,246

 

 

 

384

 

 

$

37,640

 

2026

 

$

110.89

 

 

$

11,325

 

 

 

125

 

 

$

15,547