Note 11 - Stockholders' Equity

9 Months Ended

Feb. 28, 2016

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

11. Stockholders’ Equity

During the three months ended February 28, 2016, the Company granted options to purchase 30,000 shares of common stock and awarded 10,000 restricted stock units.

During the nine months ended February 28, 2016, the Company granted options to purchase 126,000 shares of common stock and awarded 92,000 restricted stock units.

As of February 28, 2016 the Company has reserved 2.9 million shares of Common Stock for future issuance under its current and former equity plans.

On July 14, 2010, the Company announced that the Board of Directors of the Company had approved the establishment of a stock repurchase plan authorizing the repurchase of up to $10 million of the Company’s common stock. The Company may repurchase its common stock from time to time in open market purchases or in privately negotiated transactions. The timing and actual number of shares repurchased is at the discretion of management of the Company and will depend on a variety of factors, including stock price, corporate and regulatory requirements, market conditions, the relative attractiveness of other capital deployment opportunities and other corporate priorities. The stock repurchase program does not obligate Landec to acquire any amount of its common stock and the program may be modified, suspended or terminated at any time at the Company's discretion without prior notice. During the three and nine months ended February 28, 2016, the Company did not purchase any shares on the open market.

Consolidated Statements of Changes in Stockholders

’

Equity

(in thousands, except share amounts):

	February 28, 2016
Common Stock Shares
Balance at May 31, 2015		26,990,490
Stock options exercised, net of shares tendered		72,673
Vested restricted stock units, net of shares tendered		8,114
Balance at February 28, 2016		27,071,277
Common Stock
Balance at May 31, 2015	$	27
Stock options exercised, net of shares tendered		—
Vested restricted stock units, net of shares tendered		—
Balance at February 28, 2016	$	27
Additional Paid-in Capital
Balance at May 31, 2015	$	133,307
Stock options exercised, net of shares tendered		282
Vested restricted stock units, net of shares tendered		—
Taxes paid by Company for stock swaps and RSUs		—
Stock-based compensation expense		2,581
Tax benefit from stock based compensation expense		133
Balance at February 28, 2016	$	136,303
Retained Earnings
Balance at May 31, 2015	$	85,098
Net loss applicable to common stockholders		(16,370	)
Balance at February 28, 2016	$	68,728
Non - controlling Interest
Balance at May 31, 2015	$	1,677
Non-controlling interest in net income		119
Distributions to non-controlling interest		(248	)
Balance at February 28, 2016	$	1,548