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EMPLOYEE STOCK PLANS (Tables)
12 Months Ended
May 30, 2025
EMPLOYEE STOCK PLANS  
Compensation costs related to the Company's stock-based compensation

 

 

Year Ended

 

 

 

May 30,

 

 

May 31,

 

 

May 31,

 

(In thousands, except per share data)

 

2025

 

 

2024

 

 

2023

 

Cost of sales

 

$737

 

 

$330

 

 

$331

 

Research and development

 

 

1,476

 

 

 

639

 

 

 

706

 

Selling, general and administrative

 

 

2,949

 

 

 

1,549

 

 

 

1,711

 

Net effect on net income (loss)

 

$5,162

 

 

$2,518

 

 

$2,748

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effect on net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$0.17

 

 

$0.09

 

 

$0.10

 

Diluted

 

$0.17

 

 

$0.09

 

 

$0.09

 

Stock option and RSU transactions
(in thousands)

 

Available Shares for Grant

 

Balance, May 31, 2022

 

 

735

 

Options granted

 

 

(110)

RSUs granted

 

 

(674)

RSUs cancelled

 

 

60

 

Options terminated

 

 

16

 

Balance, May 31, 2023

 

 

27

 

Shares issued under 2023 Equity Incentive Plan

 

 

1,500

 

Shares retired under 2016 Equity Incentive Plan

 

 

(95)

Options granted

 

 

(4)

RSUs granted

 

 

(221)

RSUs cancelled

 

 

144

 

Options terminated

 

 

12

 

Balance, May 31, 2024

 

 

1,363

 

RSUs granted

 

 

(634)

RSUs cancelled

 

 

70

 

Options terminated

 

 

2

 

Balance, May 30, 2025

 

 

801

 

Stock option transactions

 

 

Number of Shares

 

 

Weighted Average Exercise Price

 

 

Weighted Average Remaining Contractual Term

 

 

Aggregated Intrinsic Value

 

 

 

(in thousands)

 

 

Per Share

 

 

(In Years)

 

 

(in thousands)

 

Balances, May 31, 2024

 

 

702

 

 

$4.37

 

 

 

3.3

 

 

$5,320

 

Options terminated

 

 

(2)

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(55)

 

 

 

 

 

 

 

 

 

 

 

 

Balances, May 30, 2025

 

 

645

 

 

$4.47

 

 

 

2.3

 

 

$3,619

 

Options exercisable, May 30, 2025

 

 

585

 

 

$3.85

 

 

 

2.1

 

 

$3,531

 

Options exercisable and expected to vest

 

 

645

 

 

$4.47

 

 

 

2.3

 

 

$3,619

 

RSUs, PRSUs, restricted shares and performance restricted shares granted

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

 

Weighted Average Remaining Contractual Term

 

 

Aggregate Intrinsic Value

 

 

 

(in thousands)

 

 

Per Share

 

 

(In Years)

 

 

(in thousands)

 

Unvested, May 31, 2024

 

 

294

 

 

$20.08

 

 

 

2.3

 

 

$3,381

 

Granted (1)

 

 

634

 

 

 

14.74

 

 

 

 

 

 

 

 

 

Vested

 

 

(194)

 

 

15.10

 

 

 

 

 

 

 

 

 

Forfeited (2)

 

 

(70)

 

 

15.75

 

 

 

 

 

 

 

 

 

Unvested, May 30, 2025

 

 

664

 

 

$16.89

 

 

 

2.1

 

 

$6,330

 

Fair value assumptions for Option Valuation Model

 

 

Year Ended

 

 

 

May 31,

 

 

May 31,

 

 

 

2024

 

 

2023

 

 

 

 

 

 

 

 

Expected term (in years)

 

 

5

 

 

5-6

 

Volatility

 

 

93%

 

 

86%
Risk-free interest rates

 

 

4.34%

 

 

3.12%
Weighted average grant date fair value

 

$36.02

 

 

$6.29

 

Fair value assumption of the ESPP Purchase Rights

 

 

Year Ended

 

 

 

May 30,

 

 

May 31,

 

 

May 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Expected term (in years)

 

0.5 - 2.0

 

 

0.5 - 2.0

 

 

0.5 - 2.0

 

Volatility

 

80% - 95%

 

 

70% - 94%

 

 

91% - 203%

 

Risk-free interest rates

 

3.61% - 4.36%

 

 

4.72% - 5.53%

 

 

3.97% - 4.94%

 

Weighted average grant date fair value

 

$2.01

 

 

$6.30

 

 

$13.60