Stock-based Compensation and Stockholders’ Equity (Tables)

12 Months Ended

May 28, 2023

Share-Based Payment Arrangement [Abstract]

Stock Option Weighted Average Assumptions

As of May 28, 2023, May 29, 2022 and May 30, 2021, the fair value of stock option grants were estimated using the following weighted average assumptions:

	Year Ended
	May 28, 2023		May 29, 2022		May 30, 2021
Weighted-average grant date fair value	$3.38		$2.62		$2.37
Assumptions:
Expected life (in years)	3.50		2.80		3.36
Risk-free interest rate	3.14	%	0.45	%	0.23	%
Volatility	39	%	33	%	33	%
Dividend yield	—	%	—	%	—	%

Schedule of Share-based Compensation Activity

A summary of the activity under the Company’s stock option plans as of May 28, 2023 and changes during the fiscal year then ended is presented below:

	Options Outstanding	Weighted-Average Exercise Price Per Share		Total Intrinsic Value of Options Exercised		Weighted-Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at May 31, 2020	1,716,358	$	12.15
Options granted	682,600	$	9.66
Options forfeited	(127,714)	$	9.93
Options expired	(437,227)	$	13.42
Options outstanding at May 30, 2021	1,834,017	$	11.07
Options granted	803,000	$	11.79
Options exercised	(161,415)	$	9.69	$	304,211
Options forfeited	(205,746)	$	10.96
Options expired	(322,170)	$	13.31
Options outstanding at May 29, 2022	1,947,686	$	11.13
Options granted	743,050	$	10.51
Options exercised	(15,474)	$	9.57	$	12,069
Options forfeited	(61,900)	$	10.69
Options expired	(239,037)	$	12.08
Options outstanding at May 28, 2023	2,374,325	$	10.88			3.94	$	—
Options exercisable at May 28, 2023	1,470,091	$	11.01			2.64	$	—

A summary of the Company’s restricted stock unit award activity as of May 28, 2023 and changes during the fiscal year then ended is presented below:

	Restricted Stock Units Outstanding	Weighted-Average Grant Date Fair Value Per Share
Restricted stock units/awards outstanding at May 31, 2020	469,548	$	11.24
Granted	188,225	$	10.13
Vested	(146,197)	$	11.69
Forfeited	(31,180)	$	10.60
Restricted stock units/awards outstanding at May 30, 2021	480,396	$	10.71
Granted	105,858	$	11.98
Vested	(228,568)	$	11.41
Forfeited	(63,087)	$	10.70
Restricted stock units/awards outstanding at May 29, 2022	294,599	$	10.55
Granted	336,186	$	9.59
Vested	(214,494)	$	10.79
Forfeited	(79,500)	$	9.43
Restricted stock units/awards outstanding at May 28, 2023	336,791	$	9.70

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes the stock-based compensation by statement of operations line item:

	Year Ended
(in thousands)	May 28, 2023		May 29, 2022		May 30, 2021
Continuing operations:
Cost of sales	$	404	$	314	$	348
Research and development	193		202		223
Selling, general and administrative	3,015		2,126		2,734
Discontinued Operations	—		(34)		55
Total stock-based compensation	$	3,612	$	2,608	$	3,360