v3.26.1
EMPLOYEE STOCK PLANS (Tables)
12 Months Ended
May 29, 2026
EMPLOYEE STOCK PLANS  
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

 

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

 

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

 

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

 

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

 

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

 

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