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Stock-based Compensation and Stockholders' Equity | 9 Months Ended
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Feb. 25, 2024
Share-Based Payment Arrangement [Abstract] |
Stock-based Compensation and Stockholders' Equity | Stock-based Compensation and Stockholders’ Equity Stock-Based Compensation Activity A summary of the activity under the Company’s stock option plans as of February 25, 2024 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 (in thousands) |  | Weighted-Average Remaining Contractual Term (in Years) |  | Aggregate Intrinsic Value
Options outstanding at May 28, 2023 | 2,374,325 |  |  | $ | 10.88 |  |  |  |  |  |  |
Options granted | 6,300 |  |  | $ | 7.51 |  |  |  |  |  |  |
Options exercised | (95,800) |  |  | $ | 9.38 |  |  | $ | 115 |  |  |  |  |
Options expired | (119,850) |  |  | $ | 11.79 |  |  |  |  |  |  |
Options outstanding at February 25, 2024 | 2,164,975 |  |  | $ | 10.88 |  |  |  |  | 1.21 |  | $ | — |
Options exercisable at February 25, 2024 | 1,712,287 |  |  | $ | 10.95 |  |  |  |  | 1.90 |  | $ | — |
A summary of the Company’s restricted stock unit (“RSU”) award activity as of February 25, 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 | 1,058,556 |  |  | $ | 8.25 |
Vested | (155,942) |  |  | $ | 8.03 |
Restricted stock units outstanding at February 25, 2024 | 1,239,405 |  |  | $ | 8.67 |
Stock-Based Compensation Expense The following table summarizes stock-based compensation by income statement line item:
| Three Months Ended |  | Nine Months Ended
(In thousands) | February 25, 2024 |  | February 26, 2023 |  | February 25, 2024 |  | February 26, 2023
Continuing operations: |  |  |  |  |  |  |
Cost of product sales | $ | 187 |  |  | $ | 109 |  |  | 549 |  |  | $ | 307 |
Research and development | 42 |  |  | 31 |  |  | 126 |  |  | 173 |
Selling, general and administrative | 1,265 |  |  | 763 |  |  | 3,928 |  |  | 2,316 |
Total stock-based compensation | $ | 1,494 |  |  | $ | 903 |  |  | $ | 4,603 |  |  | $ | 2,796 |
As of February 25, 2024, there was $11.4 million of total unrecognized compensation expense related to unvested equity compensation awards granted under the Lifecore incentive stock plans. Total expense is expected to be recognized over the weighted-average period of 1.21 years for stock options and 1.90 years for RSUs.

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