EMPLOYEE STOCK PLANS (Tables)
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12 Months Ended |
May 29, 2026 |
| EMPLOYEE STOCK PLANS |
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| Compensation costs related to the Company's stock-based compensation |
| | Year Ended | | | | May 29, | | | May 30, | | | May 31, | | (In thousands, except per share data) | | 2026 | | | 2025 | | | 2024 | | | Cost of sales | | $ | 792 | | | $ | 737 | | | $ | 330 | | | Research and development | | | 1,473 | | | | 1,476 | | | | 639 | | | Selling, general and administrative | | | 4,496 | | | | 2,949 | | | | 1,549 | | | Net effect on net income (loss) | | $ | 6,761 | | | $ | 5,162 | | | $ | 2,518 | | | | | | | | | | | | | | | | Effect on net income (loss) per share: | | | | | | | | | | | | | | Basic | | $ | 0.22 | | | $ | 0.17 | | | $ | 0.09 | | | Diluted | | $ | 0.22 | | | $ | 0.17 | | | $ | 0.09 | |
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| Stock option and RSU transactions |
(in thousands) | | Available Shares for Grant | | Balance, May 31, 2023 | | | 27 | | Shares issued under 2023 Equity Incentive Plan | | | 1,500 | | Shares retired under 2016 Equity Incentive Plan | | | (95 | ) | Options granted | | | (4 | ) | RSUs granted | | | (221 | ) | RSUs cancelled | | | 144 | | Options terminated | | | 12 | | Balance, May 31, 2024 | | | 1,363 | | RSUs granted | | | (634 | ) | RSUs cancelled | | | 70 | | Options terminated | | | 2 | | Balance, May 30, 2025 | | | 801 | | Shares issued under 2023 Equity Incentive Plan | | | 2,500 | | RSUs granted | | | (533 | ) | RSUs cancelled | | | 225 | | Options terminated | | | 4 | | Balance, May 29, 2026 | | | 2,997 | |
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| Stock option transactions |
| | Number of Shares | | | Weighted Average Exercise Price | | | Weighted Average Remaining Contractual Term | | | Aggregated Intrinsic Value | | | | (in thousands) | | | Per Share | | | (In Years) | | | (in thousands) | | Balances, May 30, 2025 | | | 645 | | | $ | 4.47 | | | | 2.3 | | | $ | 3,619 | | Options terminated | | | (4 | ) | | | | | | | | | | | | | Options exercised | | | (325 | ) | | | | | | | | | | | | | Balances, May 29, 2026 | | | 316 | | | $ | 5.11 | | | | 1.8 | | | $ | 27,529 | | Options exercisable, May 29, 2026 | | | 310 | | | $ | 4.77 | | | | 1.7 | | | $ | 27,143 | | Options exercisable and expected to vest | | | 316 | | | $ | 5.11 | | | | 1.8 | | | $ | 27,528 | |
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| RSUs, PRSUs, restricted shares and performance restricted shares granted |
| | Number of Shares | | | Weighted Average Grant Date Fair Value | | | Weighted Average Remaining Contractual Term | | | Aggregate Intrinsic Value | | | | (in thousands) | | | Per Share | | | (In Years) | | | (in thousands) | | Unvested, May 30, 2025 | | | 664 | | | $ | 16.89 | | | | 2.1 | | | $ | 6,330 | | Granted (1) | | | 533 | | | | 15.39 | | | | | | | | | | Vested | | | (265 | ) | | | 15.26 | | | | | | | | | | Forfeited (2) | | | (225 | ) | | | 17.68 | | | | | | | | | | Unvested, May 29, 2026 | | | 707 | | | $ | 16.12 | | | | 2.1 | | | $ | 65,252 | |
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| Fair value assumptions for Option Valuation Model |
| | Year Ended | | | | May 31, | | | | 2024 | | | | | | Expected term (in years) | | | 5 | | Volatility | | | 93 | % | Risk-free interest rates | | | 4.34 | % | Weighted average grant date fair value | | $ | 36.02 | |
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| Summary of stock appreciation rights |
| | Number of Shares | | | Weighted Average Grant Price | | | Weighted Average Remaining Contractual Term | | | Aggregated Intrinsic Value | | | | (in thousands) | | | Per Share | | | (In Years) | | | (in thousands) | | Outstanding, May 30, 2025 | | | 4 | | | $ | 15.11 | | | | - | | | $ | - | | Granted | | | 7 | | | | 15.13 | | | | | | | | | | Cancelled | | | (4 | ) | | | 15.11 | | | | | | | | | | Outstanding, May 29, 2026 | | | 7 | | | $ | 15.13 | | | | - | | | $ | 570 | | Vested, May 29, 2026 | | | 7 | | | $ | 15.13 | | | | - | | | $ | 570 | |
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| Fair value assumption of the ESPP Purchase Rights |
| | Year Ended | | | | May 29, | | | May 30, | | | May 31, | | | | 2026 | | | 2025 | | | 2024 | | Expected term (in years) | | 0.5 – 2.0 | | | 0.5 – 2.0 | | | 0.5 – 2.0 | | Volatility | | 92%-113% | | | 80% - 95% | | | 70% – 94% | | Risk-free interest rates | | 3.55%-4.23% | | | 3.61%-4.36% | | | 4.72%–5.53% | | Weighted average grant date fair value | | $42.96 | | | $2.01 | | | $6.30 | |
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