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Stock-Based Compensation (Tables)
3 Months Ended
Sep. 03, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Option Activity

The following unaudited tables summarize option activity for the three months ended September 3, 2017.

 

     Number
of

Shares
     Weighted
Average
Exercise
Price
     Weighted
Average
Remaining
Contractual
Term
(years)
     Aggregate
Intrinsic
Value

(in
thousands)
 

Options outstanding at May 31, 2017

     274,000      $ 4.79        8.40      $ 128  
        

 

 

    

 

 

 

Granted

     57,000        6.15        
  

 

 

    

 

 

       

Options outstanding at September 3, 2017

     331,000      $ 5.03        8.44      $ 1,934  
  

 

 

    

 

 

    

 

 

    

 

 

 

Vested and exercisable options at September 3, 2017

     90,000      $ 3.54        7.90      $ 659  
  

 

 

    

 

 

    

 

 

    

 

 

 
Summary of Non-vested Options Activity
     Number of
Shares
     Weighted
Average
Grant-Date
Fair Value
 

Non-vested options at May 31, 2017

     229,000      $ 3.34  

Granted

     57,000        3.86  

Vested

     (45,000      2.55  
  

 

 

    

 

 

 

Non-vested options at September 3, 2017

     241,000      $ 3.61  
  

 

 

    

 

 

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

The fair value of the options granted during the first quarter of fiscal 2018 and 2017 were estimated at the date of grant using the following weighted average assumptions:

 

     2018     2017  

Volatility

     65.9     66.0

Risk-free interest rate

     2.13     1.47

Expected option life in years

     7.50       7.50  

Dividend yield

     0     0