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Stock-Based Compensation (Tables) | 6 Months Ended
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Oct. 29, 2023
Summary of Assumptions Used to Determine Fair Value of Performance Based Restricted Stock Units | The following table provides assumptions used to determine the fair market value of the market-based total shareholder return component using the Monte Carlo simulation model on our outstanding performance-based restricted stock units granted to senior executives on September 28, 2023, August 10, 2022 and July 22, 2021:
|  | September 28, |  | August 10, |  | July 22,
|  | 2023 |  | 2022 |  | 2021
Closing price of our common stock |  | $5.59 |  | $5.06 |  | $14.75
Expected volatility of our common stock |  | 37.3% |  | 48.2% |  | 54.2%
Expected volatility of peer companies |  | 35.7%-91.5% |  | 41.6%-105.1% |  | 45.7%-101.5%
Risk-free interest rate |  | 4.90% |  | 3.13% |  | 0.33%
Dividend yield |  | 0.00% |  | 0.00% |  | 3.00%
Correlation coefficient of peer companies |  | 0.01-0.21 |  | 0.05-0.23 |  | 0.03-0.35
Performance Based Restricted Stock Units [Member] |
Summary of Vested Restricted Stock Units | The following table summarizes information related to our performance-based restricted stock units that vested during the six-month period ended October 30, 2022:
|  | Performance-Based |  |  |  |  |  | (4) |
|  | Restricted Stock |  |  | (3) |  |  | Price |
Fiscal Year |  | Units Vested |  |  | Fair Value |  |  | Per Share |
Fiscal 2023 (1) |  |  | 545 |  |  | $ | 3 |  |  | $ | 5.10 |
Fiscal 2023 (2) |  |  | 437 |  |  | $ | 2 |  |  | $ | 5.10 |
(1) Performance-based restricted stock units vested by senior executives. (2) Performance-based restricted stock units vested by key employees. (3) Dollar amounts are in thousands. (4) Price per share is derived from the closing price of our common stock on the date the respective performance-based restricted stock units vested.
Time-Based Restricted Stock Units [Member] |
Summary of Vested Restricted Stock Units | The following table summarizes information related to our time-based restricted stock units that vested during the six-month periods ending October 29, 2023, and October, 30, 2022, respectively:
|  | Time-Based |  |  |  |  |  | (2)
|  | Restricted Stock |  |  | (1) |  |  | Price
Fiscal Year |  | Units Vested |  |  | Fair Value |  |  | Per Share
Fiscal 2024 |  |  | 151,653 |  |  | $ | 857 |  |  | $ | 5.65 |  |
Fiscal 2023 |  |  | 32,799 |  |  | $ | 167 |  |  | $ | 5.10 |  |
(1) Dollar amounts are in thousands. (2) Price per share is derived from the closing price of our common stock on the date the respective time-based restricted stock units vested.
Executive officers and key employees [Member] |
Summary of Grants of Performance Based Restricted Stock Units | The following table summarizes information related to our grants of performance-based restricted stock units associated with senior executives and key employees that were unvested as of October 29, 2023:
|  | (3) |  |  | (4) |  |  |  |  |  |  |
|  | Performance-Based |  |  | Restricted Stock |  |  |  |  |  |  |
|  | Restricted Stock |  |  | Units Expected |  |  |  |  |  |  |
Date of Grant |  | Units Awarded |  |  | to Vest |  |  | Price Per Share |  |  |  | Vesting Period
September 28, 2023 (1) |  |  | 227,497 |  |  |  | 121,740 |  |  | $ | 6.43 |  | (5) |  | 34 months
August 10, 2022 (1) |  |  | 178,714 |  |  |  | — |  |  | $ | 5.77 |  | (6) |  | 3 years
July 22, 2021 (1) |  |  | 122,476 |  |  |  | — |  |  | $ | 15.93 |  | (7) |  | 3 years
July 22, 2021 (2) |  |  | 20,500 |  |  |  | — |  |  | $ | 14.75 |  | (8) |  | 3 years
(1) Performance-based restricted stock units awarded to senior executives. (2) Performance-based restricted stock units awarded to key employees. (3) Amounts represent the maximum number of common stock shares that could be earned if certain performance targets are met as defined in the related restricted stock unit agreements. (4) Compensation cost is based on an assessment each reporting period to determine the probability of whether or not certain performance goals will be met and how many shares are expected to be earned as of the end of the vesting period. These amounts represent the number of shares that were expected to vest as of October 29, 2023. (5) Price per share represents the fair market value per share ($1.15 per $1, or an increase of $0.84 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($5.59) for the performance-based component of the performance-based restricted stock units granted to senior executives on September 28, 2023. (6) Price per share represents the fair market value per share ($1.14 per $1, or an increase of $0.71 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($5.06) for the performance-based component of the performance-based restricted stock units granted to senior executives on August 10, 2022. (7) Price per share represents the fair market value per share ($1.08 per $1, or an increase of $1.18 to the closing price of our common stock on the date of grant) determined using the Monte Carlo simulation model for the market-based total shareholder return component and the closing price of our common stock ($14.75) for the performance-based component of the performance-based restricted stock units granted to senior executives on July 22, 2021. (8) Price per share represents the closing price of our common stock on the date of grant.
Senior Executives and Management [Member] | Time-Based Restricted Stock Units [Member] |
Summary of Grants of Time-Based Restricted Stock Unit Awards | The following table summarizes information related to our grants of time-based restricted stock unit awards associated with senior executives, key employees, and outside directors that were unvested as of October 29, 2023:
|  | Time-Based |  |  |  |  |  |  |
|  | Restricted Stock |  |  | (1) |  |  |  |
Date of Grant |  | Units Awarded |  |  | Price Per Share |  | Vesting Period
September 28, 2023 (2) |  |  | 100,068 |  |  | $ | 5.59 |  |  |  | 34 months
September 28, 2023 (3) |  |  | 59,928 |  |  | $ | 5.59 |  |  |  | 1 year
September 6, 2022 (2) |  |  | 25,114 |  |  | $ | 4.58 |  |  |  | 2 to 3 years
August 10, 2022 (2) |  |  | 78,225 |  |  | $ | 5.06 |  |  |  | 3 years
July 22, 2021 (2) |  |  | 30,835 |  |  | $ | 14.75 |  |  |  | 3 years
(1) Price per share represents closing price of common stock on the date the respective award was granted. (2) Time-based restricted stock units awarded to senior executives and key employees. (3) Time-based restricted stock units awarded to outside directors.

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- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -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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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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