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Stock-based Compensation and Stockholders’ Equity (Tables)

12 Months Ended

May 26, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Weighted Average Assumptions

The following table displays the estimated fair value of stock option grants, and the weighted average assumptions utilized:

			Year Ended
			May 26, 2024						May 28, 2023						May 29, 2022
Weighted-average grant date fair value			$	3.91					$	3.38					$	2.62
Assumptions:
Expected life (in years)			4.35						3.50						2.80
Risk-free interest rate			4.25		%				3.14		%				0.45		%
Volatility			58		%				39		%				33		%

Schedule of PSU Fair Value Assumptions

The main inputs to the model were the following:

Valuation Date						May 20, 2024
Stock Price						$	5.94
Simulation Term						5.00 years
Expected Volatility						77.86		%
Risk-Free Rate						4.41		%
Dividend Yield						—		%

Schedule of Share-based Compensation Activity

A summary of the activity under the Company’s stock option plans as of May 26, 2024 and changes during the fiscal year then ended is presented below:

			Options Outstanding						Weighted-Average Exercise Price Per Share						Aggregate intrinsic Value (in thousands)						Weighted-Average Remaining Contractual Term in Years
Options outstanding at May 28, 2023			2,374,325						$	10.88					$	—					3.94
Options granted			8,400						$	7.70
Options exercised			(95,800)						$	9.38					$	115
Options forfeited			(41,984)						$	10.30
Options expired			(132,350)						$	11.85
Options outstanding at May 26, 2024			2,112,591						$	10.88					$	—					2.44
Options exercisable at May 26, 2024			1,885,323						$	10.94					$	—					2.11

A summary of the Company’s RSU award activity as of May 26, 2024 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, 2023			336,791						$	9.70
Granted			1,584,005						$	7.48
Vested			(180,942)						$	7.74
Forfeited			(117,850)						$	8.68
Restricted stock units outstanding at May 26, 2024			1,622,004						$	7.83

A summary of the Company’s PSU award activity as of May 26, 2024 and changes during the fiscal year then ended is presented below:

			Performance Stock Units Outstanding						Weighted-Average Grant Date Fair Value Per Share
PSU outstanding at May 28, 2023			—						$	—
Granted			1,500,000						$	4.66
Vested			—						$	—
Forfeited			—						$	—
PSU outstanding at May 26, 2024			1,500,000						$	4.66

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 26, 2024						May 28, 2023						May 29, 2022
Continuing operations:
Cost of sales			$	582					$	404					$	314
Research and development			168						193						202
Selling, general and administrative			5,451						3,015						2,126
Discontinued Operations			—						—						(34)
Total stock-based compensation			$	6,201					$	3,612					$	2,608

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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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Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

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