Share-Based Compensation Plans |
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| Share-Based Compensation Plans | Note 6 - Share-Based Compensation Plans As part of our compensation structure, we grant share-based compensation awards to certain employees and non-employee members of our Board of Directors during the fiscal year. These awards may be subject to attainment of certain service conditions, performance conditions and/or market conditions. In connection with our annual grant during the first quarter of fiscal 2027, we granted 921,095 service condition awards (“Service Condition Awards”) with a weighted average grant date fair value of $16.47. Additionally, we granted 449,304 performance-based awards during the first quarter of fiscal 2027, of which 299,550 contained performance conditions (“Performance Condition Awards”) and 149,754 contained market conditions (“Market Condition Awards”), with weighted average grant date fair values of $16.47 and $12.35, respectively. Refer to our Form 10-K for further information on the Company’s share-based compensation plans. We recorded share-based compensation expense in SG&A as follows:
(1)Share-based compensation expense during the first quarter of fiscal 2026 includes a benefit for Performance Condition Awards, as a result of a change in estimate from target achievement to zero percent achievement for Performance Condition Awards granted during fiscal 2024. Unrecognized Share-Based Compensation Expense As of May 31, 2026, our total unrecognized share-based compensation for all awards was $28.1 million, which will be recognized over a weighted average amortization period of 2.3 years. The total unrecognized share-based compensation reflects an estimate of target achievement for outstanding Performance Condition Awards granted during both fiscal 2027 and 2026, and a weighted average estimate of 81% of target achievement for outstanding Performance Condition Awards granted during fiscal 2025.
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