XML 21 R10.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Stock-based Compensation and Stockholders' Equity
 6 Months Ended
Nov. 26, 2023
Share-Based Payment Arrangement [Abstract]  
Stock-based Compensation and Stockholders' Equity Stock-based Compensation and Stockholders’ Equity
Stock-Based Compensation Activity
A summary of the activity under the Company’s stock option plans as of November 26, 2023 and changes during the fiscal year then ended is presented below:
Options OutstandingWeighted-Average Exercise Price Per ShareTotal Intrinsic Value of Options Exercised
(in thousands)		Weighted-Average Remaining Contractual Term (in Years)Aggregate Intrinsic Value
Options outstanding at May 28, 20232,374,325 $10.88 
Options granted2,100 $10.48 
Options exercised(95,800)$9.38 $115 
Options forfeited— $— 
Options expired(119,850)$11.79 
Options outstanding at November 26, 20232,160,775 $10.89 3.90$— 
Options exercisable at November 26, 20231,608,580 $10.95 3.36$— 
A summary of the Company’s restricted stock unit (“RSU”) award activity as of November 26, 2023 and changes during the fiscal year then ended is presented below:
Restricted Stock Units OutstandingWeighted-Average Grant Date Fair Value Per Share
Restricted stock units outstanding at May 28, 2023336,791 $9.70 
Granted1,057,656 $8.25 
Vested(61,344)$9.41 
Forfeited— $— 
Restricted stock units outstanding at November 26, 20231,333,103 $8.56 
Stock-Based Compensation Expense

The following table summarizes stock-based compensation by income statement line item:
Three Months EndedSix months ended
(In thousands)November 26, 2023November 27, 2022November 26, 2023November 27, 2022
Continuing operations:
Cost of product sales$178 $97 362 $198 
Research and development42 52 84 141 
Selling, general and administrative1,358 963 2,664 1,557 
Total stock-based compensation$1,578 $1,112 $3,110 $1,896 

As of November 26, 2023, there was $11.4 million of total unrecognized compensation expense related to unvested equity compensation awards granted under the Lifecore incentive stock plans. Total expense is expected to be recognized over the weighted-average period of 1.39 years for stock options and 2.00 years for RSUs.