Annual report [Section 13 and 15(d), not S-K Item 405]

Equity Incentive Plan (Tables)

v3.25.2
Equity Incentive Plan (Tables)
12 Months Ended
May 31, 2025
Equity Incentive Plan  
Schedule of stock option activity

Weighted 

average

Weighted

remaining

Aggregate

Number of

average

contractual

intrinsic

(in thousands, except exercise price and years)

    

shares

    

exercise price

    

life in years

    

value

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

$

Granted

 

13,025

$

0.17

 

 

Exercised

 

(500)

$

0.21

 

$

72

Forfeited, expired, and cancelled

 

(50)

$

0.66

 

 

Options outstanding at May 31, 2025

 

38,324

$

0.46

 

7.65

$

4,039

Options outstanding and exercisable at May 31, 2025

 

28,594

$

0.54

 

7.23

$

2,653

Summary of fair values of stock options granted

Years ended May 31,

2025

    

2024

Expected Volatility

123.2% - 130.4

%

108.6% - 115.7

%

Weighted-Average Volatility

127.02

%

112.24

%

Expected Dividends

%

%

Expected Term (In years)

5.1 - 6.1

5.1 - 6.0

Risk-Free Rate

3.96

%

3.96

%

Schedule of Company RSU and PSU activity

Weighted average

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, 2023

 

1,293

$

0.58

0.81

RSUs and PSUs granted

 

RSUs and PSUs forfeited

 

(1,293)

0.58

RSUs and PSUs vested

 

Unvested RSUs and PSUs at May 31, 2024

RSUs and PSUs granted

3,500

0.41

RSUs and PSUs forfeited

RSUs and PSUs vested

Unvested RSUs and PSUs at May 31, 2025

 

3,500

$

0.41

1.75

(1)

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