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Stock-Based Compensation (Tables)

9 Months Ended

Jan. 28, 2024

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 January 8, 2024, September 28, 2023, August 10, 2022 and July 22, 2021:

		January 8,		September 28,		August 10,		July 22,
		2024		2023		2022		2021
Closing price of our common stock		$5.61		$5.59		$5.06		$14.75
Expected volatility of our common stock		33.5%		37.3%		48.2%		54.2%
Expected volatility of peer companies		33.7% - 102.6%		35.7% - 91.5%		41.6% - 105.1%		45.7% - 101.5%
Risk-free interest rate		4.30%		4.90%		3.13%		0.33%
Dividend yield		0.00%		0.00%		0.00%		3.00%
Correlation coefficient of peer companies		0.01 - 0.21		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 nine-month period ended January 29, 2023:

		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 nine-month periods ending January 28, 2024, and January 29, 2023, 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 January 28, 2024:

		(3)				(4)
		Performance-Based				Restricted Stock
		Restricted Stock				Units Expected
Date of Grant		Units Awarded				to Vest				Price Per Share					Vesting Period
January 8, 2024 (1)			24,597				14,663			$	6.23		(5)		31 months
September 28, 2023 (1)			202,900				83,055			$	6.43		(6)		34 months
August 10, 2022 (1)			178,714				—			$	5.77		(7)		3 years
July 22, 2021 (1)			122,476				—			$	15.93		(8)		3 years
July 22, 2021 (2)			20,500				—			$	14.75		(9)		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 January 28, 2024.

(5)Price per share represents the fair market value per share ($1.11 per $1, or an increase of $0.62 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 ($5.61) for the performance-based component of the performance-based restricted stock units granted to senior executives on January 8, 2024.

(6)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.

(7)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.

(8)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.

(9)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 January 28, 2024:

		Time-Based
		Restricted Stock				(1)
Date of Grant		Units Awarded				Price Per Share					Vesting Period
January 8, 2024 (2)			14,758			$	5.61				31 months
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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