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Stock-Based Compensation Plans (Tables) | 9 Months Ended
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Feb. 22, 2025
Share-Based Payment Arrangement [Abstract] |
Summary of Stock Option Activity | The following table summarizes the stock option activity for the nine months ended February 22, 2025 (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 | (464) |  |  | $ | 14.61 |
Awards outstanding at February 22, 2025 | 1,721 |  | $ | 16.91 |
Exercisable at February 22, 2025 | 1,721 |  | $ | 16.91 |
Vested and expected to vest at February 22, 2025 (1) | 1,721 |  | $ | 16.91 |
(1)The options expected to vest are the result of applying the pre-vesting forfeiture rate assumptions to options not yet vested. As of February 22, 2025, all outstanding options have vested.
Summary of Unvested Restricted Stock Awards | The following table summarizes the activities for the unvested RSAs for the nine months ended February 22, 2025 (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 | 149 |  | $ | 8.91 |
Vested | (103) |  |  | $ | 16.41 |
Forfeited | — |  | $ | — |
Unvested as of February 22, 2025 | 269 |  | $ | 11.80 |
Expected to vest as of February 22, 2025 | 259 |  | $ | 11.68 |
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 nine months ended February 22, 2025 (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) | 1,035 |  | $ | 10.04 |  |  | 41 |  |  | $ | 8.85 |  |  | 1,076 |  |  | $ | 9.99 |
Vested | (255) |  | $ | 14.54 |  |  | (26) |  | $ | 13.82 |  |  | (281) |  | $ | 14.47 |
Forfeited | (88) |  | $ | 13.28 |  |  | — |  | $ | — |  |  | (88) |  | $ | 13.28 |
Unvested as of February 22, 2025 | 1,307 |  | $ | 11.27 |  |  | 63 |  |  | $ | 11.95 |  |  | 1,370 |  |  | $ | 11.30 |
Expected to vest as of February 22, 2025 | 1,087 |  | $ | 11.28 |  |  | 63 |  |  | $ | 11.95 |  |  | 1,150 |  |  | $ | 11.32 |
(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 nine months ended February 22, 2025 (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) | 352 |  | $ | 9.12 |
Vested | (164) |  |  | $ | 18.41 |
Forfeited | (100) |  | $ | 14.02 |
Unvested as of February 22, 2025 | 709 |  | $ | 12.58 |
Expected to vest as of February 22, 2025 | 670 |  | $ | 12.50 |
(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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