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Note 13 - Stockholders' Equity
 6 Months Ended
Nov. 25, 2012
Stockholders' Equity Note Disclosure [Text Block]
13.          Stockholders’ Equity

During the three and six months ended November 25, 2012, the Company granted options to purchase 20,000 shares of common stock and 6,666 of restricted stock unit awards.

As of November 25, 2012 the Company has reserved 2.6 million shares of Common Stock for future issuance under its current and former equity plans.

On July 14, 2010, the Company announced that the Board of Directors of the Company had approved the establishment of a stock repurchase plan which allows for the repurchase of up to $10 million of the Company’s Common Stock.   The Company may repurchase its common stock from time to time in open market purchases or in privately negotiated transactions.  The timing and actual number of shares repurchased is at the discretion of management of the Company and will depend on a variety of factors, including stock price, corporate and regulatory requirements, market conditions, the relative attractiveness of other capital deployment opportunities and other corporate priorities.  The stock repurchase program does not obligate Landec to acquire any amount of its common stock and the program may be modified, suspended or terminated at any time at the Company's discretion without prior notice.  During both the three and six months ended November 25, 2012, the Company did not purchase any shares on the open market.

Consolidated Statements of Changes in Stockholders’ Equity (in thousands, except share amounts)

   
November 25, 2012
 
Common Stock Shares
     
Balance at May 27, 2012
    25,644,580  
Stock options exercised, net of shares tendered
    128,106  
Vested restricted stock units, net of shares tendered
    11,248  
Balance at November 25, 2012
    25,783,934  
         
Common Stock
       
Balance at May 27, 2012
  $ 26  
Stock options exercised, net of shares tendered
    —  
Vested restricted stock units, net of shares tendered
    —  
Balance at November 25, 2012
  $ 26  
         
Additional Paid-in Capital
       
Balance at May 27, 2012
  $ 119,894  
Stock options exercised, net of shares tendered
    651  
Taxes paid by Company for RSUs vested
    (49 )
Stock-based compensation expense
    671  
Tax-benefit from stock based compensation expense
    1,814  
Balance at November 25, 2012
  $ 122,981  
         
Retained Earnings        
Balance at May 27, 2012   $ 29,822  
Net income     13,279  
Balance at November 25, 2012   $ 43,101  
         
Non controlling Interest        
Balance at May 27, 2012   $ 1,816  
Non controlling interest in net income     156  
Distributions to non controlling interest     (320 ) 
Balance at November 25, 2012   $ 1,652