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Note 13 - Stockholders' Equity
 9 Months Ended
Feb. 24, 2013
Stockholders' Equity Note Disclosure [Text Block]
13.          Stockholders’ Equity

During the nine months ended February 24, 2013, the Company granted options to purchase 20,000 shares of common stock and 6,666 of restricted stock unit awards.

As of February 24, 2013 the Company has reserved 2.5 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 nine months ended February 24, 2013, the Company did not purchase any shares on the open market.

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

   
February 24, 2013
 
Common Stock Shares
     
Balance at May 27, 2012
    25,644,580  
Stock options exercised, net of shares tendered
    250,584  
Vested restricted stock units, net of shares tendered
    11,248  
Balance at February 24, 2013
    25,906,412  
         
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 February 24, 2013
  $ 26  
         
Additional Paid-in Capital
       
Balance at May 27, 2012
  $ 119,894  
Stock options exercised, net of shares tendered
    1,385  
Taxes paid by Company for RSUs vested
    (49 )
Stock-based compensation expense
    1,135  
Tax-benefit from stock based compensation expense
    2,743  
Balance at February 24, 2013
  $ 125,108  
Retained Earnings
     
Balance at May 27, 2012
  $ 29,822  
Net income
    18,068  
Balance at February 24, 2013
  $ 47,890  
         
Non controlling Interest
       
Balance at May 27, 2012
  $ 1,816  
Non controlling interest in net income
    159  
Distributions to non controlling interest
    (320 )
Balance at February 24, 2013
  $ 1,655