Stock-Based Compensation (Tables)

12 Months Ended

May 31, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The following tables summarize option activity for the years ended May 31, 2017 and 2016:


	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value (in thousands)
Options outstanding at June 1, 2015		—	$	—
Granted		225,000		3.28

Options outstanding at May 31, 2016		225,000	$	3.28		9.14	$	1,584

Granted		49,000		11.75

Options outstanding at May 31, 2017		274,000	$	4.79		8.40	$	128

Vested and exercisable options at May 31, 2017		45,000	$	3.28		8.14	$	89

Summary of Non-vested Options Activity

The weighted average grant-date fair value of options granted during fiscal 2017 and 2016 were $7.58 and $2.19, respectively.


	Number of Shares			Weighted Average Grant-Date Fair Value
Non-vested options at May 31, 2015		—		$	—
Granted		225,000			2.19
Vested		—			—

Non-vested options at May 31, 2016		225,000		$	2.19
Granted		49,000			7.58
Vested		(45,000	)		2.19

Non-vested options at May 31, 2017		229,000		$	3.34

Fair Value of Options Granted Estimated at Date of Grant Using Weighted Average Assumptions

The fair value of the options granted during fiscal 2017 and 2016 were estimated at the date of grant using the following weighted average assumptions:


	2017			2016
Volatility		64.3	%		55.8	%
Risk-free interest rate		2.14	%		2.22	%
Expected option life in years		7.50			9.72
Dividend yield		0	%		0	%