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Stock-based compensation (Tables)

9 Months Ended

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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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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