v3.26.1
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
May 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The Monte Carlo assumptions for Performance Shares granted during the fiscal year ended May 31, 2026 were:
Assumptions
Expected volatility of stock (%)
40.45% - 50.63%
Risk-free interest rate (%)
3.74% - 3.80%
Expected life (years)
2.13 - 2.84
Weighted average grant date fair value per unit$86.93 
The following table provides the related assumptions used in the Black-Scholes model used to determine the fair value of stock options granted during the fiscal year ended May 31, 2026:
Assumptions
Dividend yield (%)
2.38% - 3.60%
Expected volatility of stock (%)
40.65% - 42.62%
Risk-free interest rate (%)
3.65% - 4.06%
Expected life (years)
4.00 - 6.36
Schedule of Rsu and Performance Shares Activity
The following table summarizes RSU and Performance Shares activity for fiscal 2026:
RSUsPerformance Shares
SharesWeighted-
Average
Grant-
Date Fair
Value		SharesWeighted-
Average
Grant-
Date Fair
Value
Outstanding at May 25, 2025902,234$67.86 514,222$80.13 
Granted (a)1,253,36953.82 95,78781.39 
Performance condition adjustment0— (130,635)93.01 
Vested (b)(455,997)73.03 (107,823)91.41 
Forfeited/expired/cancelled(87,724)63.52 (17,064)68.15 
Outstanding at May 31, 20261,611,882$55.72 354,487$72.87 
_____________________________________________________
(a)Granted represents new grants and dividend equivalents accrued.
(b)The aggregate fair value of awards that vested in fiscal 2026, 2025, and 2024 was $28.3 million, $37.7 million, and $44.3 million, respectively, which represents the market value of our common stock on the date that the RSUs and Performance Shares vested. The number of RSUs and Performance Shares vested includes shares of common stock that we withheld on behalf of employees to satisfy the minimum statutory tax withholding requirements. RSUs that are expected to vest are net of estimated future forfeitures.
Schedule of Stock Option Activity
The following table summarizes stock option activity for fiscal 2026:
SharesWeighted-
Average
Exercise
Price
(per share)		Weighted-
Average
Remaining
Contractual
Term (Years)		Aggregate
Intrinsic
Value
(in millions) (a)
Outstanding at May 25, 2025646,482$69.72 5.9$2.4 
Granted4,239,35867.30 
Exercised(134,005)33.10 
Forfeited/cancelled(36,683)62.18 
Outstanding at May 31, 20264,715,152$68.65 6.1$0.1 
Exercisable at May 31, 2026514,524$78.98 6.1$0.1 
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(a)The aggregate intrinsic values represent the total pre-tax intrinsic value (the difference between our closing stock price on the last trading day of our fiscal 2026, or $43.18 as of May 29, 2026, and the exercise price, multiplied by the number of in-the-money stock options) that would have been received by the option holders had all option holders exercised their in-the-money stock options at the end of the fiscal year. The amount changes based on the fair market value of our common stock.
Schedule of Compensation Expenses for Stock-based Awards Recognized, Net of Forfeitures
Our stock-based compensation expense is recorded in “Selling, general and administrative expenses.” Compensation expense for stock-based awards recognized in the Consolidated Statements of Earnings, net of forfeitures, was as follows:
For the Fiscal Years Ended May
(in millions)202620252024
Stock-settled RSUs$34.2 $28.9 $27.3 
Performance Shares4.3 6.2 14.9 
Stock options7.7 4.4 4.6 
Stock-settled compensation expense46.2 39.5 46.8 
Income tax benefit (a)(7.7)(6.0)(7.5)
Total compensation expense, net of tax benefit$38.5 $33.5 $39.3 
_____________________________________________________
(a)Income tax benefit represents the marginal tax rate, excluding non-deductible compensation.
Schedule of Unrecognized Compensation Expense
Based on estimates at May 31, 2026, total unrecognized compensation expense related to stock-based awards was as follows:
(in millions, except data in years)Unrecognized Compensation ExpenseRemaining Weighted Average
Recognition Period (in years)
Stock-settled RSUs$59.4 1.7
Performance Shares7.2 1.6
Stock options40.5 2.5
Total unrecognized compensation expense$107.1