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Stock-based compensation (Tables) | 9 Months Ended
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Feb. 23, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock Option Weighted Average Assumptions | The following table displays information about stock-based awards:
| Nine months ended
| February 23, 2025 |  | February 25, 2024
Weighted-average grant date fair value per share: |  |  |
Stock options | $ | 3.18 |  |  | $ | 3.91 |
RSUs and PSUs | 4.39 |  |  | 8.25 |
Intrinsic value of stock options exercised | — |  |  | 115 |
Fair value of RSUs and PSUs vested | $ | 5.88 |  |  | $ | 7.74 |
Tax benefit of options exercised | — |  |  | 35 |
Weighted-average assumptions to value stock option grants: |  |  |
Expected life | 4.4 years |  | 4.4 years
Risk-free interest rate | 4.0 | % |  | 4.3 | %
Volatility | 53 | % |  | 58 | %
Dividend yield | — | % |  | — | %
Summary of Stock Option Activity | A summary of the activity under the Company’s stock option plans as of February 23, 2025 and changes during the fiscal quarter then ended is presented below:
| Shares |  | Weighted-average exercise price per share |  | Weighted-average remaining contractual term |  | Aggregate intrinsic value (in thousands)
Outstanding at May 26, 2024 | 2,112,591 |  |  | $ | 10.88 |  |  |  |  |
Granted | 545,775 |  |  | 6.83 |  |  |  |  |
Forfeited | (75,676) |  |  | 7.38 |  |  |  |  |
Expired | (1,164,335) |  |  | 11.06 |  |  |  |  |
Outstanding at February 23, 2025 | 1,418,355 |  |  | 9.35 |  |  | 3.9 years |  | $ | 45 |
Exercisable at February 23, 2025 | 864,223 |  |  | 10.70 |  |  | 2.2 years |  | — |
Summary of Stock-based Compensation Activity | A summary of the Company’s RSU award activity and PSU award activity as of February 23, 2025 and changes during the fiscal quarter then ended is presented below.
| RSUs |  | PSUs
| Shares |  | Weighted-average grant date fair value per share |  | Shares |  | Weighted-average grant date fair value per share
Outstanding at May 26, 2024 | 1,622,004 |  |  | $ | 7.83 |  |  | 1,500,000 |  |  | $ | 4.66 |
Granted | 823,287 |  |  | 5.33 |  |  | 750,000 |  |  | 3.36 |
Vested | (651,547) |  |  | 8.22 |  |  | (75,000) |  |  | 4.24 |
Forfeited | (261,894) |  |  | 7.28 |  |  | — |  |  | — |
Outstanding at February 23, 2025 | 1,531,850 |  |  | 6.41 |  |  | 2,175,000 |  |  | 4.23 |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs | The following table summarizes stock-based compensation by income statement line item:
| Nine months ended
| February 23, 2025 |  | February 25, 2024
Cost of product sales | $ | 431 |  |  | $ | 549 |
Research and development expense | (123) |  |  | 126 |
Selling, general and administrative expense | 8,035 |  |  | 3,928 |
Stock-based compensation expense | $ | 8,343 |  |  | $ | 4,603 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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