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Stock-based Compensation (Tables)

3 Months Ended

Aug. 25, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Stock Option Weighted Average Assumptions

The following table displays the estimated fair value of stock options granted and the weighted average assumptions utilized:

			Three Months Ended
			August 25, 2024
Weighted-average grant date fair value			$	2.48
Assumptions:
Expected life (in years)			4.35
Risk-free interest rate			3.88		%
Volatility			53		%
Dividend yield			—		%

Summary of Stock Option Activity

A summary of the activity under the Company’s stock option plans as of August 25, 2024 and changes during the fiscal quarter 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 (in thousands)
Options outstanding at May 26, 2024			2,112,591						$	10.88											2.44						$	—
Options granted			54,150						$	5.28
Options exercised			—						$	—					$	—
Options forfeited			(16,956)						$	10.13
Options expired			(75,000)						$	14.00
Options outstanding at August 25, 2024			2,074,785						$	10.63											2.24						$	39
Options exercisable at August 25, 2024			1,872,086						$	10.82											1.89						$	—

Summary of Stock-based Compensation Activity

A summary of the Company’s RSU award activity as of August 25, 2024 and changes during the fiscal quarter then ended is presented below:

			Restricted Stock Units Outstanding						Weighted-Average Grant Date Fair Value Per Share
RSUs outstanding at May 26, 2024			1,622,004						$	7.83
Granted			358,392						$	5.18
Vested			(435,448)						$	8.54
Forfeited			(108,708)						$	7.06
RSUs outstanding at August 25, 2024			1,436,240						$	7.01

A summary of the Company’s PSU award activity as of August 25, 2024 and changes during the fiscal quarter then ended is presented below:

			Performance Share Units Outstanding						Weighted-Average Grant Date Fair Value Per Share
PSUs outstanding at May 26, 2024			1,500,000						$	4.66
Granted			—						$	—
Vested			—						$	—
Forfeited			—						$	—
PSUs outstanding at August 25, 2024			1,500,000						$	4.66

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

The following table summarizes stock-based compensation by income statement line item:

			Three Months Ended
			August 25, 2024						August 27, 2023
Cost of product sales			$	141					$	184
Research and development			13						43
Selling, general and administrative			2,265						1,306
Stock-based compensation expense			2,419						1,533
Amount capitalized into property, plant, and equipment			—						8
Total stock-based compensation costs			$	2,419					$	1,541

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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 for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, 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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