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Note 10 - Stockholders' Equity
 3 Months Ended
Aug. 31, 2014
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

10.

Stockholders’ Equity


During the three months ended August 31, 2014, the Company granted options to purchase 469 shares of common stock and 29,496 of restricted stock unit awards.


As of August 31, 2014 the Company has reserved 3.1 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 authorizing 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 the three months ended August 31, 2014, the Company did not purchase any shares on the open market.


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


   

August 31, 2014

 

Common Stock Shares

       

Balance at May 25, 2014

    26,815,253  

Stock options exercised, net of shares tendered

    469  

Vested restricted stock units, net of shares tendered

    29,496  

Balance at August 31, 2014

    26,845,218  
         

Common Stock

       

Balance at May 25, 2014

  $ 27  

Stock options exercised, net of shares tendered

    —  

Vested restricted stock units, net of shares tendered

    —  

Balance at August 31, 2014

  $ 27  
         

Additional Paid-in Capital

       

Balance at May 25, 2014

  $ 131,488  

Stock options exercised, net of shares tendered

    3  

Vested restricted stock units, net of shares tendered

    —  

Taxes paid by Company for stock swaps and RSUs

    (12 )

Stock-based compensation expense

    398  

Tax from stock based compensation expense

    (44 )

Balance at August 31, 2014

  $ 131,833  
         

Retained Earnings

       

Balance at May 25, 2014

  $ 71,554  

Net income

    2,353  

Balance at August 31, 2014

  $ 73,907  
         

Non controlling Interest

       

Balance at May 25, 2014

  $ 1,692  

Non controlling interest in net income

    71  

Distributions to non controlling interest

    —  

Balance at August 31, 2014

  $ 1,763