Note 6 - Stock-Based Compensation

6 Months Ended

Nov. 25, 2012

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

6.            Stock-Based Compensation

In the three and six months ended November 25, 2012, the Company recognized stock-based compensation expense of $323,000 and $671,000, respectively, which included $141,000 and $298,000 for restricted stock unit awards and $182,000 and $373,000 for stock option grants, respectively.  In the three and six months ended November 27, 2011, the Company recognized stock-based compensation expense of $444,000 and $885,000, respectively, which included $193,000 and $395,000 for restricted stock unit awards and $251,000 and $490,000 for stock option grants, respectively.

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

	Three Months Ended November 25, 2012		Three Months Ended November 27, 2011		Six Months Ended November 25, 2012		Six Months Ended November 27, 2011
Research and development	$	104,000	$	130,000	$	214,000	$	254,000
Sales, general and administrative	$	219,000	$	314,000	$	457,000	$	631,000
Total stock-based compensation	$	323,000	$	444,000	$	671,000	$	885,000

As of November 25, 2012, there was $1.2 million of total unrecognized compensation expense related to unvested equity compensation awards granted under the Landec equity plans.  Total expense is expected to be recognized over the weighted-average period of 1.6 years for stock options and 1.4 years for restricted stock unit awards.