Annual report pursuant to Section 13 and 15(d)

Equity Incentive Plan (Tables)

v3.24.2.u1
Equity Incentive Plan (Tables)
12 Months Ended
May 31, 2024
Equity Incentive Plan  
Schedule of stock option activity

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Weighted 

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​

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average

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Weighted

​

remaining

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Aggregate

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​

Number of

​

average

​

contractual

​

intrinsic

(in thousands, except per share data and years)

    

shares

    

exercise price

    

life in years

    

value

Options outstanding at May 31, 2022

 

17,457

​

$

1.53

 

7.79

​

$

—

Granted

 

12,417

​

$

0.41

 

​

​

 

​

Exercised

 

—

​

$

—

 

​

​

 

​

Forfeited, expired, and cancelled

 

(10,051)

​

$

1.16

 

​

​

 

​

Options outstanding at May 31, 2023

 

19,823

​

$

0.99

 

7.87

​

$

—

Granted

 

14,251

​

$

0.21

 

​

​

 

​

Exercised

 

—

​

$

—

 

​

​

 

​

Forfeited, expired, and cancelled

 

(8,225)

​

$

0.87

 

​

​

 

​

Options outstanding at May 31, 2024

 

25,849

​

$

0.60

 

7.77

​

$

—

Options outstanding and exercisable at May 31, 2024

 

19,679

​

$

0.71

 

7.25

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$

—

Summary of fair values of stock options granted

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Years ended May 31,

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2024

    

2023

Expected Volatility

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108.6% - 115.7

%

​

99.2% - 112.7

%

Weighted-Average Volatility

​

112.24

%

​

107.06

%

Expected Dividends

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-

%

​

-

%

Expected Term (In years)

​

5.1 - 6.0

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​

5.0 - 6.1

​

Risk-Free Rate

​

3.96

%

​

3.83

%

Schedule of Company RSU and PSU activity

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Weighted average

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Number of

​

Weighted average

​

remaining contractual

(shares in thousands)

    

RSUs and PSUs (1)

    

grant date fair value

​

life in years

Unvested RSUs and PSUs at May 31, 2022

 

300

​

$

3.12

​

0.58

RSUs and PSUs granted

 

1,293

​

​

0.58

​

​

RSUs and PSUs forfeited

 

(150)

​

​

3.12

​

​

RSUs and PSUs vested

 

(150)

​

​

3.12

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​

Unvested RSUs and PSUs at May 31, 2023

​

1,293

​

​

0.58

​

0.81

RSUs and PSUs granted

​

—

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​

​

​

​

RSUs and PSUs forfeited

​

(1,293)

​

​

0.58

​

​

RSUs and PSUs vested

​

—

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​

​

​

​

Unvested RSUs and PSUs at May 31, 2024

 

—

​

$

—

​

—

​

(1)

The number of PSUs disclosed in this table are at the target level of 100%.