•The 2019 Stock Incentive Plan became effective on October 16, 2019. This plan provides for the grant of stock options, stock grants, stock units and stock appreciation rights to employees, consultants and directors. Under the plan, no recipient may receive awards during any fiscal year that exceed 500,000 stock options, 250,000 stock grants or stock units, or 500,000 stock appreciation rights, nor may any non-employee director be granted awards in excess of $120. As of September 30, 2025, the Company had 2,097,452 common shares reserved for new awards under the 2019 Stock Incentive Plan.

•The Equity Inducement Plan became effective on March 20, 2024. This plan provides for the grant of equity awards to individuals that were not previously employees or directors of the Company as an inducement material to the individual’s entry into employment with the Company. As of September 30, 2025, the Company had 167,474 common shares reserved for new awards under the Equity Inducement Plan.


	Stock options
	Three months ended
	September 30, 2025			August 25, 2024
Weighted-average grant date fair value per share	$	5.36		$	3.38
Weighted-average assumptions used to determine grant-date fair value:
Expected life	4.3 years			4.4 years
Risk-free interest rate	3.8		%	3.9		%
Volatility	88		%	82		%
Dividend yield	—		%	—		%


	Three months ended
	September 30, 2025		August 25, 2024
Weighted average grant-date fair value per share:
RSUs awarded	$	7.72	$	5.18

RSUs vested	5.94		8.54
PSUs vested	5.24		—


	Shares	Weighted-average exercise price per share		Weighted-average remaining contractual term	Aggregate intrinsic value
Outstanding at June 30, 2025	1,249,680	$	8.48
Granted	59,575	8.01

Forfeited	(9,450)	7.15
Expired	(147,184)	10.42
Outstanding at September 30, 2025	1,152,621	8.22		5.0 years	$	465
Exercisable at September 30, 2025	448,178	10.46		2.8 years	15

The intrinsic values presented in the table above were calculated as the excess, if any, of the market price or closing price of the Company’s Common Stock over the exercise price of the options multiplied by the number of options exercised, outstanding or exercisable, as applicable.


	RSUs			PSUs
	Shares	Weighted-average grant date fair value per share		Shares	Weighted-average grant date fair value per share
Outstanding at June 30, 2025	1,523,137	$	6.21	2,545,000	$	4.35
Granted	177,386	7.72		—	—
Vested	(313,766)	5.94		(262,000)	5.24
Forfeited	(9,275)	8.01		—	—
Outstanding at September 30, 2025	1,377,482	6.46		2,283,000	4.25

Substantially all of the stock-based compensation expense is in selling, general and administrative expense for the periods presented. Most of the stock-based compensation expense arises from recent awards to the Company’s executive officers and other newly hired employees under the Equity Inducement Plan. Those awards include (i) RSUs that primarily vest on each of the first five anniversaries of the grant date; and (ii) PSU awards divided into ten equal tranches that will vest, if at all, based upon closing stock price milestones over a five-year performance period, and to the extent a PSU award tranche vests based on performance, 50% of the shares for each tranche will be issued immediately, and 50% of the shares will be issued on the one-year anniversary of the performance vesting date.

As of September 30, 2025, there was $12,214 of total unrecognized compensation expense related to unvested equity compensation awards granted under the Lifecore incentive stock plans. This total expense is expected to be recognized over a weighted-average period of 2.0 years.