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Stock-Based Compensation (Tables)

9 Months Ended

Jan. 26, 2025

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		%		4.3		%		4.9		%		3.13		%
Dividend yield			-		%		-		%		-		%		-		%
Correlation coefficient of peer companies		(0.01) - 0.17				0.01 - 0.21				0.01 - 0.21				0.05 - 0.23

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 that were unvested as of January 26, 2025:

		(2)				(3)
		Performance-Based				Restricted Stock
		Restricted Stock				Units Expected
Date of Grant		Units Awarded				to Vest				Price Per Share					Vesting Period
August 8, 2024 (1)			505,003				50,500			$	5.35		(4)		36 months
January 8, 2024 (1)			24,598				4,238			$	6.23		(5)		31 months
September 28, 2023 (1)			192,771				—			$	6.43		(6)		34 months
August 10, 2022 (1)			146,048				—			$	5.77		(7)		3 years

(1)Performance-based restricted stock units awarded to senior executives.

(2)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.

(3)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 26, 2025.

(4)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.

(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 a senior executive 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.

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 26, 2025:

		Time-Based
		Restricted Stock				(1)
Date of Grant		Units Awarded				Price Per Share					Vesting Period
January 6, 2025 (3)			21,506			$	5.69				3 years
September 26, 2024 (2)			46,823			$	5.98				1 year
August 8, 2024 (3)			17,900			$	4.65				36 months
January 8, 2024 (3)			14,758			$	5.61				31 months
September 28, 2023 (3)			86,551			$	5.59				34 months
September 6, 2022 (3)			12,557			$	4.58				3 years
August 10, 2022 (3)			62,053			$	5.06				35 months

(1)Price per share represents closing price of our common stock on the date the respective award was granted.

(2)Time-based restricted stock units awarded to outside directors.

(3)Time-based restricted stock units awarded to senior executives and key employees.

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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.

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