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Stock-Based Compensation Plans (Tables) | 3 Months Ended
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Aug. 24, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes the stock option activity for the three months ended August 24, 2024 (in thousands, except weighted-average exercise price):
| Number of Options |  | Weighted-Average Exercise Price
Awards outstanding at May 25, 2024 | 2,185 |  | $ | 16.36 |
Exercised | - |  | $ | -
Forfeited | - |  | $ | -
Expired | (248) |  |  | $ | 12.79 |
Awards outstanding at August 24, 2024 | 1,937 |  | $ | 16.93 |
Exercisable at August 24, 2024 | 1,937 |  | $ | 16.93 |
Vested and expected to vest at August 24, 2024 (1) | 1,937 |  | $ | 16.93 |
(1)The options expected to vest are the result of applying the pre-vesting forfeiture rate assumptions to options not yet vested. As of August 24, 2024, all outstanding options have vested.
Summary of Unvested Restricted Stock Awards | The following table summarizes the activities for the unvested RSAs for the three months ended August 24, 2024 (in thousands, except weighted-average grant-date fair value):
| Shares |  | Weighted-Average Grant-Date Fair Value
Unvested at May 25, 2024 | 223 |  | $ | 15.84 |
Granted | 5 |  | $ | 11.31 |
Vested | (1) |  |  | $ | 15.76 |
Forfeited | - |  | $ | - |
Unvested as of August 24, 2024 | 227 |  | $ | 15.74 |
Expected to vest as of August 24, 2024 | 210 |  | $ | 15.78 |
Summary of Unvested Restricted Stock Unit Activity | The following table summarizes the activities for the unvested RSUs, including both equity- and liability-classified RSUs, for the three months ended August 24, 2024 (in thousands, except weighted-average grant-date fair value):
| Equity-Classified RSUs |  | Liability-Classified RSUs |  | Total RSUs
| Shares |  | Weighted-Average Grant-Date Fair Value |  | Shares |  | Weighted-Average Grant-Date Fair Value |  | Shares |  | Weighted-Average Grant-Date Fair Value
Unvested at May 25, 2024 | 615 |  | $ | 14.91 |  |  | 48 |  |  | $ | 15.64 |  |  | 663 |  |  | $ | 14.96 |
Granted (1) | 659 |  | $ | 10.63 |  |  | 2 |  |  | $ | 10.70 |  |  | 661 |  |  | $ | 10.63 |
Vested | - |  |  | $ | - |  |  | (2) |  | $ | 10.70 |  |  | (2) |  | $ | 10.70 |
Forfeited | - |  |  | $ | - |  |  | - |  | $ | - |  |  | - |  | $ | - |
Unvested as of August 24, 2024 | 1,274 |  | $ | 12.66 |  |  | 48 |  |  | $ | 15.64 |  |  | 1,322 |  |  | $ | 12.77 |
Expected to vest as of August 24, 2024 | 1,219 |  | $ | 12.57 |  |  | 48 |  |  | $ | 15.64 |  |  | 1,267 |  |  | $ | 12.69 |
(1)Dividend equivalents are included in the granted shares.
Summary of Unvested Performance Stock Units Activity | The following table summarizes the activities for the unvested PSUs for the three months ended August 24, 2024 (in thousands, except weighted-average grant-date fair value):
| Shares (1) |  | Weighted-Average Grant-Date Fair Value
Unvested at May 25, 2024 | 621 |  | $ | 16.15 |
Granted (2) | 16 |  | $ | 18.40 |
Vested | (164) |  |  | $ | 18.40 |
Forfeited | - |  | $ | - |
Unvested as of August 24, 2024 | 473 |  | $ | 15.44 |
Expected to vest as of August 24, 2024 | 405 |  | $ | 15.63 |
(1)Shares are presented in this table at the stated target, which represents the base number of shares that would vest over the applicable performance period. Actual shares that vest may be zero to 150% of the target based on the achievement of the specific company-wide performance targets. (2)Dividend equivalents are included in the granted shares.

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