v3.25.2
Equity Compensation Plans and Other Incentive Compensation (Tables)
12 Months Ended
May 31, 2025
Stock Option Activity

 

 

 

 

 

 

 

 

 

(option amounts in thousands)

 

Options

 

 

Weighted-Average Exercise Price

 

 

Weighted-Average Grant Date Fair Value

 

Outstanding at May 31, 2022 (1,191 exercisable)

 

 

3,244

 

 

$

32.13

 

 

$

7.66

 

Granted

 

 

1,704

 

 

 

14.68

 

 

 

4.61

 

Exercised

 

 

(22

)

 

 

14.78

 

 

 

4.23

 

Forfeited

 

 

(704

)

 

 

29.81

 

 

 

7.26

 

Outstanding at May 31, 2023 (1,401 exercisable)

 

 

4,222

 

 

 

25.56

 

 

 

6.51

 

Granted

 

 

1,949

 

 

 

15.43

 

 

 

5.98

 

Exercised

 

 

(11

)

 

 

13.61

 

 

 

4.44

 

Forfeited

 

 

(1,224

)

 

 

30.27

 

 

 

7.26

 

Outstanding at May 31, 2024 (1,518 exercisable)

 

 

4,936

 

 

 

20.41

 

 

 

6.12

 

Granted

 

 

2,002

 

 

 

15.47

 

 

 

4.96

 

Exercised

 

 

(23

)

 

 

14.50

 

 

 

4.59

 

Forfeited

 

 

(988

)

 

 

27.92

 

 

 

7.10

 

Outstanding at May 31, 2025 ( 2,142 exercisable)

 

 

5,927

 

 

$

17.51

 

 

$

5.56

 

Summary of Stock Options Outstanding

The following is a summary of stock options outstanding at May 31, 2025:

 

 

Options Outstanding

 

 

Options Exercisable

 

 

 

 

 

 

Average Contractual

 

 

Weighted-Average

 

 

 

 

 

Weighted-Average

 

(option amounts in thousands)

 

 

 

 

Life

 

 

Exercise

 

 

 

 

 

Exercise

 

Range of Exercise Price

 

Number

 

 

(in years)

 

 

Price

 

 

Number

 

 

Price

 

$5.14 - $20.00

 

 

5,129

 

 

 

5.5

 

 

$

14.93

 

 

 

1,552

 

 

$

14.34

 

$20.01 - $28.00

 

 

78

 

 

 

3.5

 

 

 

23.57

 

 

 

78

 

 

 

23.57

 

$28.01 - $36.00

 

 

452

 

 

 

1.2

 

 

 

31.87

 

 

 

344

 

 

 

32.16

 

$36.01 - $42.46

 

 

268

 

 

 

1.4

 

 

 

40.96

 

 

 

168

 

 

 

41.02

 

 

 

 

5,927

 

 

 

4.9

 

 

$

17.51

 

 

 

2,142

 

 

$

19.63

 

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options Intrinsic Value

Remaining compensation cost to be expensed in future periods for non-vested options was $13,488 at May 31, 2025, with a weighted average expense recognition period of 1.8 years.

 

 

Year Ended May 31,

 

 

 

2025

 

 

2024

 

 

2023

 

Aggregate intrinsic value of options outstanding

 

$

113

 

 

$

55

 

 

$

6,154

 

Aggregate intrinsic value of options exercisable

 

 

 

 

$

5

 

 

$

42

 

Aggregate intrinsic value of options exercised

 

$

46

 

 

$

37

 

 

$

73

 

The fair value of stock options granted was estimated using the following weighted-average assumptions:

 

 

Year Ended May 31,

 

 

2025

 

 

2024

 

 

2023

 

Risk-free interest rate

 

 

3.7

%

 

 

4.7

%

 

 

3.3

%

Expected dividend yield

 

 

0.0

%

 

 

0.0

%

 

 

0.0

%

Expected stock volatility

 

 

38.1

%

 

 

37.3

%

 

 

34.0

%

Expected option life

 

3.4 years

 

 

4.5 years

 

 

4.5 years

 

 

Restricted Stock Units (RSUs) [Member]  
Schedule of Nonvested Restricted Stock Units Activity

(RSU amounts in thousands)

 

RSUs

 

 

Weighted Average Grant Date Fair Value

 

Outstanding at May 31, 2023

 

 

766

 

 

$

19.30

 

Granted

 

 

574

 

 

 

15.55

 

Released

 

 

(230

)

 

 

18.53

 

Forfeited

 

 

(149

)

 

 

19.98

 

Outstanding at May 31, 2024

 

 

961

 

 

 

17.17

 

Granted

 

 

537

 

 

 

15.49

 

Released

 

 

(374

)

 

 

16.89

 

Forfeited

 

 

(120

)

 

 

17.47

 

Outstanding at May 31, 2025

 

 

1,004

 

 

$

16.25