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Stock-based Compensation and Stockholders’ Equity (Tables)

12 Months Ended

May 31, 2020

Share-based Payment Arrangement [Abstract]

Stock Option Weighted Average Assumptions

As of May 31, 2020, May 26, 2019, and May 27, 2018, the fair value of stock option grants was estimated using the following weighted average assumptions:

			Year Ended
			May 31, 2020						May 26, 2019						May 27, 2018
Options granted			435,000						368,264						498,000
Weighted-average exercise price			$10.42						$11.85						$12.93
Weighted-average grant date fair value			$2.55						$2.80						$2.90
Assumptions:
Expected life (in years)			3.50						3.50						3.50
Risk-free interest rate			1.01		%				2.47		%				1.73		%
Volatility			31		%				27		%				27		%
Dividend yield			—		%				—		%				—		%

Schedule of Share-based Compensation Activity

A summary of the activity under the Company’s stock option plans as of May 31, 2020 and changes during the fiscal year then ended is presented below:

			Options Outstanding						Weighted-Average Exercise Price Per Share						Total Intrinsic Value of Options Exercised						Weighted-Average Remaining Contractual Term in Years						Aggregate Intrinsic Value
Options outstanding at May 28, 2017			1,571,542						$	13.20
Options granted			498,000						$	12.93
Options exercised			(29,333)						$	7.36					$	177,921
Options forfeited and canceled			(23,334)						$	12.55
Options expired			(61,540)						$	14.23
Options outstanding at May 27, 2018			1,955,335						$	13.20
Options granted			368,264						$	11.85
Options exercised			(116,834)						$	11.82					$	265,911
Options forfeited and canceled			(71,669)						$	13.75
Options expired			(135,000)						$	14.18
Options outstanding at May 26, 2019			2,000,096						$	12.94
Options granted			435,000						$	10.42
Options exercised			(163,333)						$	11.16					$	169,066
Options forfeited and canceled			(55,806)						$	13.08
Options expired			(499,599)						$	14.04
Options outstanding at May 31, 2020			1,716,358						$	12.15											3.75						$	416,090
Options exercisable at May 31, 2020			1,113,441						$	13.05											2.30						$	70,567

A summary of the Company’s restricted stock unit award activity as of May 31, 2020 and changes during the fiscal year then ended is presented below:

			Restricted Stock Units Outstanding						Weighted-Average Grant Date Fair Value Per Share
Restricted stock units outstanding at May 28, 2017			509,355						$	13.53
Granted			200,288						$	13.12
Vested			(270,656)						$	14.06
Forfeited			(30,950)						$	11.75
Restricted stock units outstanding at May 27, 2018			408,037						$	12.99
Granted			333,486						$	13.15
Vested			(237,946)						$	13.27
Forfeited			(75,150)						$	13.92
Restricted stock units outstanding at May 26, 2019			428,427						$	12.80
Granted			296,527						$	9.79
Vested			(124,045)						$	11.82
Forfeited			(131,361)						$	12.49
Restricted stock units outstanding at May 31, 2020			469,548						$	11.24

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the stock-based compensation by statement of operations line item:

			Year Ended
(in thousands)			May 31, 2020						May 26, 2019						May 27, 2018
Cost of sales			$	162					$	449					$	535
Research and development			158						114						131
Selling, general and administrative			2,099						2,997						3,737
Total stock-based compensation			$	2,419					$	3,560					$	4,403

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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