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Stock-Based Compensation (Tables)

12 Months Ended

Apr. 27, 2025

Summary of Time Based Restricted Stock Unit Activity

The following table summarizes the time-based restricted stock unit activity during fiscal years 2025, 2024, and 2023:

		2025				2024				2023
		Shares				Shares				Shares
outstanding at beginning of year			308,927				285,826				210,284
granted			91,629				174,753				119,687
vested (1)			(103,320	)			(151,652	)			(32,799	)
forfeited			(35,088	)			—				(11,346	)
outstanding at end of year			262,148				308,927				285,826

(1) During fiscal 2025, time-based restricted stock units totaling 103,320 vested at a fair value of $581,000, or $5.63 per share. During fiscal 2024, time-based restricted stock units totaling 151,652 vested at a fair value of $857,000, or $5.65 per share. During fiscal 2023, time-based restricted stock units totaling 32,799 vested at a fair value of $167,000, or $5.10 per share.

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

		August 8,				January 8,				September 28,				August 10,
		2024				2024				2023				2022
Closing price of our common stock		$	4.65			$	5.61			$	5.59			$	5.06
Expected volatility of our common stock			35.0	%			33.5	%			37.3	%			48.2	%
Expected volatility of peer companies			22.6% - 104.0	%			33.7% - 102.6	%			35.7% - 91.5	%			41.6% - 105.1	%
Risk-free interest rate			3.90	%			4.30	%			4.90	%			3.13	%
Dividend yield			0.00	%			0.00	%			0.00	%			0.00	%
Correlation coefficient of peer companies			(0.01) - 0.17				0.01 - 0.21				0.01 - 0.21				0.05 - 0.23

Summary of Grants of Common Stock to Outside Directors

The following table summarizes information related to our grants of common stock to our outside directors during fiscal 2024 and 2023:

		Common				(1)
		Stock				Price Per				Vesting
Date of Grant		Awarded				Share				Period
July 3, 2023 - Fiscal 2024			16,616			$	5.04			Immediate
April 3, 2023 - Fiscal 2023			15,832			$	5.29			Immediate
January 3, 2023 - Fiscal 2023			17,819			$	4.70			Immediate
October 3, 2022 - Fiscal 2023			18,326			$	4.57			Immediate
July 1, 2022 - Fiscal 2023			19,753			$	4.24			Immediate

(1)Price per share represents closing price of our common stock on the date of grant.

Performance Based Restricted Stock Units [Member]

Summary of Vested Performance Based Restricted Stock Units

The following table summarizes information related to our performance-based restricted stock units that vested during fiscal 2023.

						(3)				(4)
		Common				Weighted				Weighted
		Stock Shares				Average				Average Price
Fiscal Year		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 for senior executives.

(2)Performance-based restricted stock units vested for key employees.

(3)Dollar amounts are in thousands.

(4)Price per share is derived from the closing prices of our common stock on the dates the respective performance-based restricted stock units vested.

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 certain senior executives and key members of management during fiscal years 2025, 2024, and 2023:

		Time-Based				(1)
		Restricted Stock				Price				Vesting
Date of Grant		Units Awarded				Per Share				Period
January 6, 2025 (2)			21,506			$	5.69			3 years
September 26, 2024 (3)			46,823			$	5.98			1 year
August 8, 2024 (2)			23,300			$	4.65			3 years
January 8, 2024 (2)			14,758			$	5.61			31 months
September 28, 2023 (2)			100,067			$	5.59			34 months
September 28, 2023 (3)			59,928			$	5.59			1 year
September 6, 2022 (2)			37,671			$	4.58			1 to 3 years
August 10, 2022 (2)			82,016			$	5.06			35 months

(1)Price per share represents the closing price of our 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 award to outside directors.

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 to our senior executives that were unvested as of April 27, 2025:

		(1)				(2)
		Performance-Based				Restricted Stock
		Restricted Stock				Units Expected
Date of Grant		Units Awarded				to Vest				Price Per Share					Vesting Period
August 8, 2024			505,003				—			$	5.35		(3)		3 years
January 8, 2024			16,399				4,238			$	6.23		(4)		31 months
September 28, 2023			62,569				—			$	6.43		(5)		34 months
August 10, 2022			146,048				—			$	5.77		(6)		3 years

(1)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 award agreements as of the date of grant.

(2)Compensation cost is based on an assessment each reporting period to determine the probability of whether or not certain performance targets 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 are expected to vest as of April 27, 2025.

(3)Price per share represents the fair market value per share ($1.15 per $1, or an increase of $0.70 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 ($4.65) for the performance-based component of the performance-based restricted stock units granted to senior executives on August 8, 2024.

(4)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.

(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.

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